PPC board announces State Grid International Development Ltd as preferred strategic investor for ADMIE

A Public Power Corporation board meeting on Monday announced that State Grid International Development Ltd was the preferred strategic investor to buy a 24 pct stake in ADMIE, the electricity grid operator, and that a final decision on the sale will be taken during a general shareholders’ meeting scheduled for November 24, 2016.

The Chinese company offered 320 million euros to buy a 24 pct stake in ADMIE. A report by Barclays, presented during the board meeting, said the price offered by State Grid was fair and stressed that the tender procedure was objective and transparent.