France’s Meridiam Buys Into Greek Power Link With Cyprus, Israel

Meridiam SAS agreed to buy a stake in Greece’s €1.9 billion ($1.98 billion) project to link its power grid with Cyprus and Israel through undersea cables across the eastern Mediterranean, people familiar with the deal said.

Under the agreement, the French infrastructure investor will acquire a 49.9% stake in the Great Sea Interconnector project, while Greek grid operator IPTO will retain 50.1%, said the people, asking not to be named because the deal hasn’t been made public yet.