US Fund Invests 100M Euros In Greek Construction Firm

ATHENS (Reuters) - U.S investment firm York Capital Management will invest 100 million euros ($134.87 million) in Greece's construction group GEK Terna, acquiring a 10 percent stake in the firm, the two companies said in a joint statement on Nov. 4. It is the fourth Greek bet by overseas investment funds this year, as twice bailed-out Greece lures investors as it is expected to recover from a six-year recession. York Capital will acquire a 10 percent stake in GEK Terna by subscribing to the firm's planned share capital increase and another 3 percent stake in GEK Terna's energy unit Terna Energy , the two companies said in a statement. York Capital will also fully subscribe to a five-year bond issue by GEK Terna at 2.50 euros a share. GEK Terna shares closed at 3.24 euros a share on Nov. 1.

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