PPC is attempting a comprehensive repositioning on the European energy and technology map, to transform itself into a dominant player in Central and Eastern Europe.
The new development narrative presented on April 23 to shareholders and analysts by chairman and CEO Giorgos Stassis, is based on a mammoth investment program of €24 billion by 2030, the implementation of which will be a milestone in the company’s long history.
Part of this investment plan, which will place PPC among Europe’s major energy players, will be financed by the share capital increase of €4 billion scheduled for May with the full support of the government and the largest private shareholder: the investment fund CVC, which holds a 10.34% stake, informed the company of its participation (nonbinding) with a new investment of up to €1.2 billion, which means it will raise its stake.
The state immediately declared its intention to participate in the increase so as to directly or indirectly maintain its 33.4% stake. It will pay an amount of around €1.32 billion.
The new development plan pictures a new PPC with an expansion of its geographical presence in new markets and the strengthening of its position where it is already active.