Hochtief Sells Its Remaining 17% Stake in Olympia Odos Tollway

A quartet of companies this week jointly purchased a 17% stake held by German multinational Hochtief in the Olympia Odos tollway connecting the greater Athens area with the western port city of Patras and, with an under-construction extension, to the southwest city of Pyrgos.

The transaction leaves the four – VINCI Concessions: 36,03% (formerly 29,9%); AVAX Concessions: 23,01% (formerly 19,1%) AKTOR Concessions: 20,48% (formerly 17%), and GEK TERNA: 20,48% (formerly 17%) – with 100% of the tollway’s shares divided into varying degrees of ownership.

The new closed tollway significantly improved road safety along one of the most-traveled highways in the country, reducing traffic accidents on the Corinth-Patras stretch by 96%, according to an announcement by Olympia Odos. The concessionaire said transactions in 2023 exceeded 56.3 million, up 836% compared to 2022.

The tollway extension to the Pyrgos township from Patras, along the northwest coast of the Peloponnese, is expected to be completed in the coming year.

Source: tovima.com