The Ellaktor infrastructure group, one of the largest in Greece and southeast Europe, on Monday confirmed an report and announced that exclusive negotiations are underway with a pair of local companies for the sale of its subsidiary, major construction contractor Aktor.

The companies identified are Wade Adams Hellas SMSA and Adamas Group Ltd.

The announcement by the listed company was made to the Athens Stock Exchange (ATHEX).

According to reports, both of Ellaktor’s primary shareholders, Netherlands-based Reggeborgh, and Motor Oil, one of the biggest petrochemical concerns in southeast Europe, have approved of the negotiations.

The same reports state that Cyprus-based WadeAdams and Aktor former CEO Dimitris Koutras have tabled an offer for the company, with a deal now possible in the coming period.

Interest had also been expressed by Intrakat, another Greece-based construction company, although the Ellaktor side reportedly cited possible opposition by the Hellenic Competition Commission – the watchdog authority in Greece –  as a reason for not proceeding.