Banking, Finance & Capital Markets:
Contact: Mr. Nikolaos Katsaros, Partner - Head of Finance and Capital Markets
Tel: +30 210 361 5544
Еmail: nkatsaros@papapolitis.com
Contact: Mrs. Elena Papachristou Partner, Co-Head of Capital Markets & Financial Services
Tel: +302103615544
Email: epapachristou@papapolitis.com
Recent case highlights:
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Acted for Hellenic Exchanges – Athens Stock Exchange S.A. (ATHEX) in relation to the voluntary tender offer launched by Euronext for up to 100% of its share capital in exchange for shares in Euronext N.V. Morgan Stanley acted as ATHEX’s financial advisor and Deutsche Bank as financial advisor to Euronext.
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Acted for Intralot S.A. on the acquisition of Bally’s Interactive Business from Bally’s Corporation for a transactional value of €2.7 billion, structured partly in cash and partly in shares. This represents the largest acquisition transaction by a Greek company in the last 20 years, as a mix of cash and equity consideration.
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Acted for Morgan Stanley on Greek law matters in its capacity as Arranger in the context of the Frontier III transaction, involving the securitization by the National Bank of Greece (NBG) of a portfolio of non-performing exposures with a total gross book value of approximately EUR 0.7 Billion, backed by the State guarantee pursuant to the Hellenic Asset Protection Scheme (“Hercules III”).
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Αcted for Qualco Group S.A. on the combined offering of shares in the public in Greece and to qualified investors outside Greece and the initial listing of the total of the company’s shares on the Athens Exchange with overall capitalization value above €420 million.
- Acted for Morgan Stanley in its capacity as Arranger in the context of the Frontier II transaction, involving the securitization by the National Bank of Greece of a portfolio of non-performing exposures with a total gross book value of c. EUR 1 Billion backed by the State guarantee pursuant to the Hellenic Asset Protection Scheme (“Hercules III”).
- Acted for Alpha Bank S.A., acting through its Luxembourg Branch, Attica Bank S.A., Banca Monte dei Paschi di Siena S.p.A., Banco BPM S.p.A., BdM BANCA S.p.A., BPER Banca S.p.A., Citibank N.A., London, Eurobank S.A., Intesa Sanpaolo S.p.A., Mediobanca - Banca di Credito Finanziario S.p.A., Mediocredito Centrale - Banca del Mezzogiorno S.p.A., Piraeus Bank S.A., acting through its Frankfurt Branch and UniCredit S.p.A. as Mandated Lead Arrangers, UniCredit S.p.A. as Facility Agent and Security Agentas as counsel on matters of Greek law to the Lenders and to the Security Agent in relation to a USD 572 Million Senior Facilities Agreement with doValue S.p.A. as Borrower, including in relation to the granting of guarantee by its Greek subsidiary doValue Greece Loans and Credits Claim Management S.A. as Guarantor and to the taking of security over the shares and the intragroup obligations of the Greek subsidiary.
- Acted for an EU based fund in relation to its participation in the bidding process for the acquisition of a loans portfolio originated by Greek banks under liquidation and managed by PQH Single Special Liquidation S.A. (April 2024).
Corporate and M&A:
Contact: Mrs. Evi Tsilou: Partner – Head of Corporate and M&A.
Tel: +30 210 361 55 44
Еmail: etsilou@papapolitis.com
Recent case highlights:
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Acted for Intracom Group in relation to the acquisition of 100% of Europa Insurance, covering all stages of a very complex deal, from drafting, negotiation and signing of the MoU/Framework Agreement, to the two-step closing SPA, the merger between the acquiring company, KLM, and its parent company, Intracom Properties, the share capital increase of Evropi Holdings and a series of formalities according to corporate, banking and capital markets legislation.
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Acted for DEPA, the public gas corporation in a transformative €600 million project for the development of a state-of-the-art 792 MW natural gas-fired power plant in Larissa, Greece.
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Acted for Oak Hill Advisors (OHA), ensuring a smooth and successful agreement in relation to OHA’s equity investment of up to €115 million with a co-investment right of additional €200 million over the next two years. The transaction establishes a corporate vehicle (CV) to hold IDEAL Holdings’ investments, with OHA acquiring a 15% stake and an option to increase its stake by an additional 10%.
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Acted for Dukes Education Group Ltd on its acquisition of 100% of the shares in “MANDOULIDES SCHOOLS SINGLE-MEMBER SOCIÉTÉ ANONYME”, a leading private educational institution in Thessaloniki, Greece.
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Acted for the listed company KLM S.A. (already renamed EVROPI HOLDINGS S.A.) in relation to the merger by absorption of its parent company, INTRACOM PROPERTIES.
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Acted for Evropi Holdings S.A. on its share capital increase for the total amount of €68.338.352,40 carried out through a public offer in application of a new exemption introduced by the Listing Act into Regulation (EU) 2017/1129 (Prospectus Regulation) i.e. through the issuance of an Annex IX Document, constituting the first transactions of its kind in Greece.
- Acted for London and Regional Properties in the sale of 100% of the company TITANIA S.A., the owner of the historic TITANIA hotel in Athens to the H Hotels Collection, marking the largest transaction in the hospitality sector in Q1 2024.
- Acted for Dukes Education Group Ltd. in connection with the acquisition of the shares of the “I.S.A. THE INTERNATIONAL SCHOOL OF ATHENS” which operates, via its Greek Branch, the International School of Athens and Melina’s Kindergarten in Athens, Greece. The transaction is the first of its kind in the Greek market, marking the first investment of an international premium private school operator in an international school based in Greece.
- Acted for Germany-based investment holding Armira and Viessmann Generations Group on the Greek law aspects of the acquisition of a minority stake in the Greek pharmaceutical company Pharos Generics Holding S.A.
- Acted for Intracom Holdings S.A., an ATHEX listed company, in its corporate transformation into an investment company with a capacity of approximately US$ 0.5 Billion through a spin off and the incorporation of Intracom Properties Single Member S.A.
- Acted for Lamda Development S.A. on the implementation of 2 strategic cooperation agreements with Temes S.A. for the joint development of 2 state-of-the-art, luxury 5-star hotels and the corresponding branded residences on the coastal front of Hellinikon, in southern Athens, with a construction completion horizon of 2026.
- Acted for Taconic Capital Advisors UK LLP, a global institutional investment firm, with respect to the acquisition of the ex-Costa Perla Hotel located in Porto Heli, Greece, owned by Utherton Ltd, a Cypriot company and the demolition, planning and construction of a complex tourist accommodation comprising of a new luxury hotel and residential villas.
Real Estate:
Contact: Mrs. Amalia Balla, Partner – Head of Real Estate
Tel: +30 210 361 5544
Еmail: aballa@papapolitis.com
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Acted for Hellinikon SMSA (subsidiary of Lamda Development S.A.) in relation to its multi-million joint development and operation of a Build-to-Rent (BtR) project on plot “AU-1.4” of the Metropolitan Pole of Hellinikon, in partnership with a key collaborator. The development relates to the construction of buildings over the above plot of land for the purposes of being rented out and is part of the Hellinikon Project, the largest urban regeneration project in Europe.
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Acted for Taconic Capital Advisors UK LLP, a global institutional investment firm, on the acquisition of the former Costa Perla Hotel in Porto Heli, Greece, and on all aspects of the development and legal structuring of a luxury resort complex to operate under the Six Senses brand. The project includes a new five-star hotel, branded residential villas, and a range of high-end amenities such as a spa, fitness centres, leisure and dining areas, boutiques, and a private dock.
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Acted for Hellinikon S.M.S.A. (subsidiary of Lamda Development S.A.) with respect to the outright sale of the full ownership rights in five (5) distinct urban blocks in the area of the Metropolitan Pole of Hellinikon – Aghios Kosmas, in Athens, Greece, for residential use. totaling €106 million. The total investment for these developments is projected to reach at least €300 million.
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Acted for Arish Capital Partners on the acquisition of a prime property in Patras, the third largest city in Greece and home to 35,000 students. This property will be transformed into “Wanderwall” – a state-of-the-art student accommodation facility. Once redeveloped, “Wanderwall” will feature 56 furnished student apartments and studios, modern amenities such as a gym, communal study areas, a cinema, laundry facilities, and more, making it the most ultra-modern student accommodation building in Patras.
- Acted for Lamda Development S.A. in relation to the completion of 2 strategic cooperation agreements valued at EUR 300 million with Temes S.A. for the joint development of 2 state-of-the-art, luxury 5-star hotels and the corresponding branded residences on the coastal front of Ellinikon, in southern Athens. The largest by size transaction in the hospitality sector in Greece.
Dispute Resolution:
Contact: Mr. George Gravias - Head of Dispute Resolution
Tel: +30 210 361 5544
Еmail: ggravias@papapolitis.com
Recent case highlights:
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Acted for Public Gas Corporation of Greece S.A. (DEPA) in EUR 347 million disputes over gas prices with Greek Fertilizers and Chemicals ELFE SA (ELFE).
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Acted for Intracom Holdings S.A. in a EUR 30 million dispute for unlawful termination of a preliminary SPA for the sale of telecommunications company, Teledome. This is a landmark case in relation to contract and procedural law and the overall legal na-ture and treatment of preliminary agreements.
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Acted for Intralot S.A. in a EUR 12 million dispute with the Hellenic Horseracing Or-ganization (ODIE), the Hellenic Republic Asset Development Fund (TAIPED) and the Greek State. A landmark case regarding state controlled private entities.
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Acted for Intralot S.A. in a EUR 25 million declaration as a mortgage creditor in the conducted auction at the property of ODIE.
- Acted for Philips Hellas in relation to various disputes arising from healthcare public tenders as well as the private sector, totaling approx. EUR 32 Million.
- Acted for Diophar Pharmaceuticals, a leading Greek pharmaceutical company in relation to a EUR 15 Million civil dispute with the Greek branch of a global US pharmaceutical company.
- Advising Pylaia S.A. (subsidiary of Lamda Development S.A.) in a EUR 40 million dispute regarding negligence of infrastructure against a Greek construction company.
