PPC: Grant Thornton will value the property that will be contributed to Hellenic Electricity Distribution Network Operator
Grant Thornton will also draft the split contract
Grant Thorton was selected by the Board of Directors of PPC as an independent expert for the preparation of the valuation report of Hellenic Electricity Distribution Network Operator (HEDNO) assets, in view of the process of selling 49% of the company, but also for the drafting of the split contract.
Specifically, PPC with its announcement to the Stock Exchange informed that its Board of Directors decided on 15.6.2021:
The definition of 31.3.2021 as the date of the Transformation Accounting Statement for the preparation of the accounting statements of the spin-off of the Distribution Network Division of PPC SA. and its imminent contribution to HEDNO SA The separation of the Branch will be carried out by absorption, with a combined application of articles 57, 59-73 and 83-87 of law 4601/2019 and N.D. 1297/1972. The date in question may be changed by a later decision of the Board, if need be.
The selection of the “Grant Thornton Societe Anonyme” as the independent expert who will prepare the Valuation Report to determine the fair value of the assets and liabilities to be submitted to HEDNO will be considered by the relevant Report, according to articles 62 and 10 of law 4601/2019.