GREECE
Macro/Political:
- The Greek government has approved 11 defence procurement programmes worth a combined EUR 4.2bn, with the largest investment allocated to Achilles Shield, an Israeli technology-based air defence system. The project is expected to cost approximately EUR 3.1bn and is scheduled to be delivered within 35 months of the contract being signed. Although the systems are Israeli made, 12 Greek companies will participate in the programme after negotiations secured domestic industrial involvement worth more than EUR 700mn.
Source: Kathimerini
Markets:
- Aktor announced that it has mandated a syndicate of banks to arrange on its behalf a series of fixed income investor meetings commencing today, an offering of EUR 300 mn senior unsecured notes with 5-year tenor, may follow, subject to market conditions. The issuer intends to use the net proceeds from the issue and sale of the Notes for general corporate purposes, including to fund capital expenditure plans and new investments to implement the Issuer’s business plan.
Source: Euronext Athens
- Metlen, through M Technologies, has signed an exclusive partnership agreement with the Cyprus-based company HOUTRIS to develop new industrial capabilities in defence systems in the Republic of Cyprus. According to the announcement, the agreement provides for the establishment of a joint venture in Cyprus, further strengthening industrial cooperation between Greece and Cyprus in the defence sector. It aims to develop additional production capabilities in the Republic of Cyprus and enhance the Cypriot defence industry’s capacity to manufacture, integrate, and support defence equipment.
Source: Euronext Athens
CYPRUS
Macro/Political:
- Today at 10 a.m., a scheduled meeting will take place between Cyprus President Nikos Christodoulides and the leaders of all the major political parties ahead of the visit of UN Secretary-General Antonio Guterres. Furthermore, according to the Cyprus News Agency, Christodoulides is expected to travel to Athens tomorrow, Saturday, to meet with Greek Prime Minister Kyriakos Mitsotakis to discuss preparations for the meeting with Guterres. Meanwhile, Maria Angela Holguin, the UN Secretary-General’s Personal Envoy on Cyprus, is expected to meet Turkish Foreign Minister Hakan Fidan in Ankara today ahead of Guterres’ visit to Cyprus from July 27 to 29.
Source: StockWatch
