Israeli Consortium Acquires Controlling Stake in Greek Armored Vehicles Manufacturer

The Israeli consortium has purchased the controlling stake in Hellenic Vehicle Industry (ELVO), a Greek armored vehicles manufacturer, according to DW.

As reported by Kathimerini, the consortium, composed of SK Group Ltd and Plasan Sasa Ltd, aims to gain control over 90% of ELVO.

According to the agreement signed between the consortium and the Greek Ministry of Finance, the consortium will oversee 79% of the shares. Under the new ownership, ELVO will begin producing Israeli Guarder and SandCat armored vehicles.