Construction giant AKTOR Group has submitted a formal bid to acquire a 75% stake in environmental firms Helector and Thalis from Motor Oil, signalling a major push into Greece's circular economy sector.
The proposal, filed with the Euronext Athens exchange, has triggered an exclusive negotiation period between the two groups as they work towards a binding Share Purchase Agreement and Shareholders' Agreement.
If finalised, the deal would significantly strengthen AKTOR's position in green infrastructure. Company officials said the move is designed to diversify earnings through recurring revenue streams and position the group to capture upcoming Public-Private Partnership waste management tenders across Greece.
Helector brings heavyweight credentials in waste-to-energy and large-scale waste management, operating seven municipal solid waste facilities across Greece and Cyprus, two hazardous clinical waste plants, and four biogas power stations with a combined capacity exceeding 33 megawatts.
Its portfolio includes a flagship waste management PPP in Western Macedonia and the turnkey build of a high-efficiency cogeneration unit for the Public Power Corporation.
Thalis rounds out the deal with expertise in solid waste solutions, water circularity and the remediation of polluted soils. With a strong footprint in Crete and northern Greece, the firm has expanded into digitalising environmental infrastructure and smart city projects — including the construction of advanced wastewater treatment plants in Crete designed to optimise agricultural irrigation across the island.