Ellaktor to sell casino stake

Construction group Ellaktor is planning to sell its 15.3 percent stake in Casino Mont Parnes, north of Athens, in order to reduce borrowing and augment liquidity. The list of assets not in its main line of business that are now destined for sale includes wind energy subsidiary Anemos, which operates 10 wind parks as well as a 129-megawatt photovoltaic station. According to its 2011 report, the group’s liabilities stand near 3 billion euros. At the end of last year, Ellaktor sold its 7.7 percent stake in European Goldfields, operator of gold mines in Halkidiki, for 260 million euros. The deal included lucrative construction contracts in the mines.

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