GEK Terna

GEK Terna Holdings Real Estate Constructions S.A.
Native name
 ΓΕΚ ΤΕΡΝΑ
Anonymi Etairia
Traded as Athex: GEKTERNA
Industry Construction, Energy
Founded 1969 (1969) (as GEK)
Headquarters Athens, Greece
Area served
 Greece
Key people
 Giorgos Peristeris (Chairman)
Products Construction
Concessions
Energy
Waste management
Mining
Real Estate
Revenue Increase €1.923 billion[1] (2014)
Increase €203.97 million[2] (2014)
Decrease €129.06 million[1] (2014)
Total assets Increase €3.380 billion[3] (2014)
Total equity Increase €864.01 million [3] (2014)
Owners York Global Finance Offshore BDH (Luxembourg) S.a.r.l. (17.35%)
Giorgos Peristeris (14.1%)
Nikolaos Kampas (10%)
Number of employees
 Increase5.000 [3] (2014)
Subsidiaries Terna Energy S.A. (45.9%)[4]
Heron S.A. (50%)
Website www.gekterna.com

GEK Terna Holding Real Estate Construction (Greek: ΓΕΚ ΤΕΡΝΑ) is a large Greek conglomerate which is listed on the Athens Exchange. Its construction branch Terna is one of the leading enterprises of its sector in Greece.

GEK Terna's electric utilities branch Terna Energy lately focussed on the production and transmission of renewable energy. Through its subsidiary Heron S.A., it is as well involved in the construction and operation of thermoelectric power generation fuelled with natural gas. Terna Energy is listed separately on the Athens Exchange (Athex: TENERGY ).[5] [6]

Company

The company was formed when former competitors GEK and TERNA merged in 1999. Until 2008, GEK was the name of the holding with TERNA being its operational branch. The Athens-based company has been listed at the Athens Exchange since 1969[7] and belongs to the 25 companies forming the FTSE/Athex Large Cap index. In 2013, U.S. investment firm York Capital Magagement bought a 10% share of the company.[8]

Rail privatization bid

Following the Greek government-debt crisis, GEK Terna showed interest in the planned privatization of Greek state-owned railway carrier TrainOSE. Together with the state-owned railway companies of Russia and France, RZD and SNCF, and Romanian private railway carrier Grup Feroviar Roman, it placed a joint bid for TrainOSE and the Hellenic Company for Rolling Stock Maintenance (Rosco), currently held by the Hellenic Republic Asset Development Fund. Following the January 2015 legislative election, the new SYRIZA-led administration however put the decision under review.[9]

See also

References

  1. 1 2 GEK Terna 2014, p. 35.
  2. ↑ GEK Terna 2014, p. 72.
  3. 1 2 3 GEK Terna 2014, p. 33.
  4. ↑ http://www.gekterna.com/userfiles/25cf6784-d046-4d9e-ac0f-a34d00d4050d/GEKTERNA_Presentation_07-09-2015_EN.pdf
  5. ↑ Terna Energy website
  6. ↑ Profile of Terna Energy on the Athens Exchange
  7. ↑ "Company profile: GEK TERNA". Athens Exchange. Retrieved 22 February 2015.
  8. ↑ "US fund to invest 100 mln euros in Greece's GEK Terna". Reuters. 4 November 2013. Retrieved 22 February 2015.
  9. ↑ Barrow, Keith (30 January 2015). "Greece to review rail privatisation". International Railway Journal.

Sources

  • "Annual Financial Report 2014" (PDF). GEK Terna.
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