Xinhua — China’s State Grid International Development offered the highest bid amounting to 320 million euros for the acquisition of 24 percent stake in Greece’s power grid operator ADMIE, Greece’s public power corporation (PPC) announced on Wednesday.
The Chinese company and a consortium led by Italy’s TERNA had submitted binding offers last week.
According to a PPC press release, PPC’s board of directors will now validate the offer on Oct. 31 formally declaring China’s State Grid as the Preferred Investor and in the next step PPC’s shareholder’s general assembly on Nov. 24 will make the final decision.
