Brief: Motor Oil To Form Joint Venture With GEK Terna In The Energy Sector

Motor Oil (Hellas) Corinth Refineries

10/07/2025 17:11

July 10 (Reuters) - Motor Oil Hellas Corinth Refineries SA MORr.AT:

TO FORM JV WITH GEK TERNA IN ENERGY SECTOR

JV TO FOCUS ON POWER GENERATION FROM NATURAL GAS THERMAL PLANTS AND THE SUPPLY OF ELECTRICITY AND NATURAL GAS

MOTOR OIL WILL CONTRIBUTE ITS STAKES IN NRG SUPPLY,  THERMOILEKTRIKI KOMOTINIS AND EUR 79 MILLION IN CASH

MOTOR OIL SAYS GEK TERNA WILL CONTRIBUTE ITS STAKES IN HERON AND THERMOILEKTRIKI KOMOTINIS ALONG WITH RELEVANT SHAREHOLDER LOANS

MOTOR OIL SAYS UPON COMPLETION BOTH COMPANIES WILL HOLD EQUAL SHARES IN THE JV WITH GEK TERNA RECEIVING ADDITIONAL CASH TOTALING AROUND EUR 128 MILLION

MOTOR OIL SAYS TRANSACTION IS EXPECTED TO BE COMPLETED IN EARLY 2026

Further company coverage: [MORr.AT]

 (Gdansk Newsroom)

 ((gdansk.newsroom@thomsonreuters.com; +48 587785269;))