China State Grid buys 24% of Greek ADMIE

Sino-Greek energy cooperation is expanding. China State Grid International Development (SGID) signed a 320 milion euro ($334 million) agreement with Greece’s Public Power Corporation (PPC) for the purchase of a 24-percent stake in the Greek power grid operator ADMIE from. The Chinese company won an international tender in October 2016 and the complex sale process was completed in its immediate aftermath.  At the end of the process, the Greek state will own 51 percent of ADMIE shares, SGID 24 percent, and other investors the remaining 25 percent.