AKTOR Group is launching one of the biggest funding drives in Greece’s infrastructure sector in recent years, combining a 650-million-euro share capital increase with a €300 million bond issue to raise as much as 950 million euros for a wider three-billion-euro investment plan through 2031.
The group said the capital increase will be underwritten by Bank of America Securities Europe, Goldman Sachs Bank Europe and UBS Europe, while UBS Europe will also underwrite the bond issue. AKTOR’s main shareholders, WINEX Investments and Castellano Properties, have indicated they intend to invest up to €300 million in the capital increase.
The financing is intended to accelerate AKTOR’s 2026-2031 strategic plan, under which the group is seeking to transform itself from a predominantly construction-focused company into a more vertically integrated infrastructure and energy player with a larger share of recurring revenue.
Management has identified concessions and public-private partnership projects, renewable energy and LNG as the three main growth pillars, while keeping construction at the core of the business model. AKTOR said it aims over the medium term for around 60% of EBITDA to come from activities with more stable and predictable cash flows, such as concessions and energy.
On an adjusted basis, the group estimates EBITDA at €207 million in 2025 and has set a medium-term target of €600 million to €650 million.
Construction remains a central leg of the strategy, with AKTOR citing a backlog of €4.7 billion that gives visibility over future revenue. In energy, the group is betting heavily on LNG and regional infrastructure. Over the past year it has moved to expand its footprint beyond Greece, including a long-term US LNG supply deal for Albania and plans linked to gas-fired generation and floating LNG infrastructure, as it seeks a larger role in southeast Europe’s energy security architecture.
In concessions and PPPs, AKTOR has pointed to projects including the Crete student housing scheme, the Voria Odos axis on northern Crete, the Pyliya Odos project and the Tavropos irrigation PPP as part of a portfolio designed to generate long-term revenue streams. In renewables, it is targeting a portfolio of 1.1-1.2 GW by 2031.
The fundraising marks the clearest sign yet of AKTOR’s effort to recast itself as a broader infrastructure investment group, using capital markets backing to finance expansion well beyond its traditional construction base.
Source: tovima.com
