Motor Oil subsidiary acquires controlling stake in Athens broadcaster Alpha

30 October 2018
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A fully owned subsidiary of Motor Oil group, one of two of Greece’s petrochemical and refinery groups, has acquired a controlling stake (50 percent + 2 shares) of the Athens-based national broadcaster Alpha.

The shares were purchased by Motor Oil subsidiary Seilla Enterprises Ltd.

The Vardinogiannis family, the primary shareholders of Motor Oil, controls another Athens station, Star.

In a press release on Tuesday afternoon, Alpha Media Group Ltd. announced the transaction and an accompanying price tag of 21.477,000 euros for the 50 percent + 2 of the shares. The group also announced a coming share capital increase, with Alpha Media saying it will provide 11.477,000 euros and Seilla Enterprises Ltd. 11,523,000 million euros.

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