Latsco Direct Investments Cyprus Limited, an investment vehicle of Marianna Latsi’s Latsco Family Office, will acquire a 10% stake in GEK TERNA Group, the operator of the Attiki Odos toll motorway, as the latter announced in an official statement. The mega deal vindicates a report by OT.gr.
GEK TERNA released a relevant statement on the agreement saying that GEK TERNA Group, in line with the obligations stemming from the concession agreement, announces that following a deal with Latsco Direct Investments Cyprus Limited, it intends to submit a request to the Hellenic Republic Asset Development Fund (HRADF) for the acquisition of 10% of the share capital of ‘New Attiki Odos Concession S.A.’ by the latter.”
The deal is set at a 15% premium over GEK TERNA’s initial binding investment. The transaction will be finalized following the necessary approvals and the completion of relevant procedures, according to the concession agreement.
The concession is the largest privatization in terms of value in Greece. In the HRADF bidding process, GEK TERNA offered €3.27 billion to secure the concession, becoming the designated concessionaire. It is for 25 years, with mandatory investments by “New Attiki Odos” exceeding €300 million.
The law ratifying the concession to GEK TERNA and “New Attiki Odos”, allows for a shareholding transfer and even the company’s potential listing on the Athens Stock Exchange.
“New Attiki Odos” took over the 70-kilometer highway on October 6.
The tollway is one of the largest co-financed road projects in Europe. According to the company’s latest annual report, over 86 million vehicles used Attica Tollway in 2024, translating to an average of about 236,090 vehicles per day.
