German Hochtief exits Greece’s Olympia Odos Motorway concession and operation

The companies VINCI Concessions, AVAX Concessions, AKTOR Concessions, and GEK TERNA exercised their rights for the joint acquisition of the 17% stake previously held by Hochtief in the concession company (Olympia Odos) and the operating company (Olympia Odos Operation) of the Athens-Pyrgos motorway.

The completion of this acquisition allows the partners to collectively own 100% of Olympia Odos and Olympia Odos Operation, with the following allocation of share capital:

• VINCI Concessions: 36.03% (previously 29.9%)
• AVAX Concessions: 23.01% (previously 19.1%)
• AKTOR Concessions: 20.48% (previously 17%)
• GEK TERNA: 20.48% (previously 17%)

This joint acquisition allows for the continued strengthening of the successful partnership between the four companies. The partners, who have been closely collaborating since 2008, jointly delivered the renovated and expanded “Olympia Odos” motorway in 2017, meeting the highest infrastructure standards. Since its opening to traffic, Olympia Odos has made travel times between Patras and Athens more reliable and significantly improved road safety, reducing traffic accidents by 96% on the Corinth-Patras section.

Today, Olympia Odos is one of the country’s busiest and most strategically important motorways, with 56.3 million transactions in 2023 (an 8.6% increase compared to 2022).

The companies VINCI Concessions, AVAX Concessions, AKTOR Concessions, and GEK TERNA will continue their strong collaboration to enhance mobility, focusing on three key priorities: the integration of the new section to Pyrgos by 2025, accelerating the environmental transition, and improving safety and the quality of services provided.

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