GEK Terna taps markets for €500M to fuel Greek infrastructure push
What's the deal? GEK TernaDealroom has a profile for this one. Try Dealroom →, Greece's largest infrastructure investor and operator, has launched a share capital increase to raise about €500 million in new equity.
Announced on June 30, 2026 on Euronext Athens, the deal is structured as a private placement of new voting shares aimed at qualified institutional investors.
The company appointed Banco Santander, MediobancaDealroom has a profile for this one. Try Dealroom →, and Morgan StanleyDealroom has a profile for this one. Try Dealroom → as global coordinators, with AXIA Ventures GroupDealroom has a profile for this one. Try Dealroom → as joint bookrunner, to run an accelerated book build.
Why now? GEK Terna says the proceeds will boost financial flexibility and fund strategic opportunities beyond its current business plan.
The money targets expansion of its infrastructure and concession platform in Greece, spanning transport, water, and energy, including concessions and public-private partnerships.
The raise follows authorisation from the company's annual general meeting on June 16, 2026, clearing the path to issue new shares without preemptive rights.
What could go wrong? The placement excludes existing shareholders' preemptive rights, which dilutes current investors.
To reassure the market, GEK Terna and its largest shareholder, Georgios Peristeris, agreed to standard 180-day lock-up commitments.
The signal: Born from the merger of GEK and TERNA, two of Greece's largest construction firms, the now-mature group is leaning on a roster of corporate banking heavyweights — Banco Santander, MediobancaDealroom has a profile for this one. Try Dealroom →, and Morgan StanleyDealroom has a profile for this one. Try Dealroom → — to bankroll ambitions that stretch beyond its current plan. Tapping equity rather than debt signals confidence that institutional appetite is strong enough to fund the next wave of Greek transport, water, and energy concessions.
Read more: Athens Times
