Bloomberg News

Ellaktor to Sell 7.1% Stake in European Goldfieds to Qatar

October 01, 2011

Oct. 1 (Bloomberg) -- Ellaktor SA, Greece’s largest construction company, agreed to sell a 7.1 percent stake in European Goldfields Ltd. to Qatar Holdings LLC, the company said in an e-mailed statement.

Athens-based Ellaktor sold the stake for C$130 million ($125 million) and will retain a 12.2 percent holding in the company, the statement said.

The Qatari company has an option to buy a further 9.4 million shares in European Goldfields at C$13 a share and will also provide a $600 million financing facility for development of a gold mine in northern Greece, the statement said.

To contact the reporter on this story: Marcus Bensasson in Athens at mbensasson@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net


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