Showing posts with label
State Grid Corp. of China (SGCC).
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Showing posts with label
State Grid Corp. of China (SGCC).
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Tue Jun 20, 2017 6:54pm GMT
Reporting by Angeliki Koutantou; editing by Susan Thomas
ATHENS, June 20 (Reuters) - China's State Grid, the world's biggest utility, concluded on Tuesday the acquisition of a minority stake in Greece's power grid operator ADMIE, Beijing's second big investment in the bailed-out country in more than a year.
Under its latest international bailout by the European Union and the International Monetary Fund, Greece has agreed to spin off ADMIE from its state-controlled power utility Public Power Corp. and sell a 24 percent stake to State Grid for 320 million euros ($356 million).
18/05/2017Reporting by Angeliki Koutantou; Editing by Karolina Tagaris and David Goodman
ATHENS (Reuters) - Greece will conclude the spin-off of power grid operator ADMIE (ΑΔΜΗΕ) by mid-June, meeting a key term of its third international bailout,ADMIE’s chief executive said on Thursday. Athens and its EU/IMF lenders had agreed that 24 percent of ADMIE, owned by state-controlled utility Public Power Corp, would be sold this year to China’s State Grid Corp and a further 25 percent to a Greek state holding company.
11.5.2017
The European Commission has endorsed an agreement between state-controlled PPC, the main power utility, and China’s SGCC (State Grid Corporation of China) for the latter’s acquisition of a 24 percent stake in the power grid operator IPTO (ΑΔΜΗΕ), a PPC subsidiary.
The proposed acquisition, priced at 320 million euros, does not breach EU competition regulations, the European Commission announced.
The Greek government had submitted its application to Brussels, seeking an endorsement for the agreement, just over a month ago, on April 10.
08.01.2017 : 21:12
Ilias Bellos
Chinese enterprises are showing an increased interest in Greece, as not only does the country offer them an entry gate to the eurozone and the rest of Europe, but it’s also a relatively new market for them.
Just weeks after the signing of a cooperation agreement between Public Power Corporation and China Machinery Engineering Corporation (CMEC) on the development of joint infrastructure projects, and days after the acquisition of 24 percent in the Independent Power Transmission Operator (ADMIE) by China’s State Grid Corp, the head of China Shenhua Group arrived in Athens with his staff.
The chief of one of the world’s biggest corporations in coal and energy trading “expressed his will to understand in depth the Greek energy market and promote cooperation with Greek enterprises, such as on lignite-powered electricity units,” Kathimerini has been told.
