Category: Greece

Norton Rose Fulbright has advised global coordinators, initial mandated lead arrangers, and bookrunners Citibank and BNP Paribas on a USD 2.8 billion sustainability and gender diversity-linked facility to GasLog.

DNB Bank acted as the agent for the deal while ABN Amro Bank was the sustainability coordinator.

GasLog is an international owner, operator, and manager of LNG carriers providing support to international energy companies.

According to Norton Rose, “the revolving facility is secured on GasLog’s fleet of LNG carriers and incorporates KPIs linked to both carbon emissions and female representation in the company’s cadetship program.”

The Norton Rose Fulbright team included Partners Yianni Cheilas and Vassilis Koroxenidis, Counsel Niki Alexandrou, Senior Associate Sergios Karotsieris, and Associates Katerina Karagouni, Jenny Arcadi, Mariana Bafe, Konstantina Mantzari, and Maria-Christina Papoulia.

Norton Rose Fulbright did not respond to our inquiry on the matter.

Bernitsas Law has advised GIC on its acquisition of a 35% stake in Hotel Investment Partners.

GIC is a long-term investment firm that manages Singapore’s foreign reserves. The firm has investments in over 40 countries.

Hotel Investment Partners is a Southern European hospitality platform.

According to Bernistsas, funds managed by Blackstone will continue to be a majority shareholder in HIP, with approximately 65% ownership of the company.

The Bernitsas team included Partners Lambros Belessis and Evi Kitsou, Senior Associates Christina Zakopoulou and Aristeidis Papathanasiou, and Associates Martha Ntounou and Sildia Fotopoulou.

Bernitsas could not provide additional information on the matter.

Koutalidis, working with White & Case’, has advised the DFC on a USD 125 million financing loan to Onex Elefsis Shipyards and Industries. Reportedly, Antis Triantafyllides & Sons advised the DFC on Cypriot legal matters.

The DFC is the U.S. International Development Finance Corporation.

Onex Elefsis Shipyards is a subsidiary of Onex Shipyards, a high-tech shipbuilding, repairing & upgrading company in Syros’ Greek island port.

According to Koutalidis, the loan is intended to help Onex “rehabilitate and modernize the Elefsina shipyard.”

Zepos & Yannopoulos has advised Deutsche Telekom group member Telecom Innovation on an investment in Desquared and BOX.

Desquared is a Greek software company behind the design of several platforms and mobile apps, including National Bank, Cosmote, and Kritikos.

BOX is a food delivery app of Cosmote.

According to Zepos & Yannopoulos, “following the two-fold investment (share deal and equity financing), a 20% stake of Desquared has come under the control of Deutsche Telekom.”

The Zepos & Yannopoulos team included Partners Athina Skolarikou, Georgia Voutsa, Manolis Zacharakis, and Maria Zoupa, Senior Associates Diana Tsourapa and Sofia Tzianoumi, and Associate Gina Dimitropoulou.

Zepos & Yannopoulos did not respond to our inquiry on the matter.

Reed Smith has advised Hive Energy on the sale of a 267-megawatt project to Juwi Hellas. Karatzas & Partners advised Juwi on the deal.

According to Hive Energy, “with a combined capacity of 267 megawatts, the consortium portfolio consists of four individual sites across Central Greece. The projects have been developed to ready-to-build status by Hive Energy, and construction by Juwi Group is scheduled to begin in the first quarter of 2024. Once operational, these projects will provide enough electricity to power around 100,000 homes each year.”

The Reed Smith team included Partner Dimitris Assimakis.

The Karatzas & Partners team included Partners Vassiliki Salaka and Valia Apostolopoulou, Senior Counsel Nikos Zachos, Senior Associates, Alexandros Anagnostopoulos, Argiro Vagia, Katerina Toumpanou, and Maria Kallidopoulou, Associates Pantelis Zalokostas, Eleni Ioannidou, Anastasia Petta, Christina Zevla, Mara Skiada, Maria Asimeli, Nikos Kazantzidis, Konstantinos Bairaktaris, Matina Xirogianni, Pinelopi Anifanti, Maria-Christina Raptopoulou, and Konstantina Chranioti, and Trainee Lawyers Michalis Chatzakis, Katerina Stathakarou, Vassiliki Papanastasiou, and Tina Sofianou.

Editor’s Note: After this article was published, Reed Smith informed CEE Legal Matters its team also included Counsel Minas Kitsilis, Senior Associate George Fountas, and Associates Georgia Koui and Eleni Alexiou.

Bernitsas has advised Pandora on the opening of their first owned and operated store in Kifissia, Greece.

Pandora is a Danish jewelry manufacturer and retailer founded in 1982 as a family-run jewelry shop in Copenhagen. It is known for its customizable charm bracelets, designer rings, earrings, and necklaces. The company has two production sites in Thailand and markets its products in more than 100 countries with more than 6,700 points of sale.

The Bernitsas team included Senior Associate Eleni Gerasimidou.

Koutalidis has advised Florida-based alternative investment firm Waterwheel Capital Management on the bidding process and the binding agreement with Alpha Bank, Eurobank, the National Bank of Greece, and Piraeus Bank to purchase 95% of the Class B and Class C notes issued in the securitization of the Solar portfolio.

The Solar portfolio consists of common, predominantly non-performing exposures of corporate and SME loans with an on-balance sheet value of approximately EUR 1.2 billion.

According to the firm, the securitization involves four originating banks and is the first of its kind in Greece. It will be subjected to the Hellenic Asset Protection Scheme, with the Class A notes benefiting from the Hellenic Republic’s guarantee.

Waterwheel Capital Management describes itself as an alternative investment firm “focused on strategies capitalizing on opportunities in Greece using a fundamental value investing approach, with a specific emphasis on potential event-driven opportunities.”

The Koutalidis team was led by Partner Effie Papoutsi.

Koutalidis did not respond to our inquiry on the matter.

Papapolitis & Papapolitis has advised Intralot on its EUR 135 million pre-emptive share capital increase concluded in October 2023. Ambrosia Capital Hellas was the lead underwriter, with Euroxx Securities as an underwriter, and Piraeus Bank as the issue advisor.

According to Papapolitis & Papapolitis, the share capital increase was fully subscribed for by existing shareholders as well as new investors in the company, raising total proceeds of EUR 135 million.

Papapolitis & Papapolitis did not respond to our inquiry on the matter.

Zepos & Yannopoulos has advised MarineMax Inc. and its Fraser Yachts Group subsidiary on their acquisition of a majority stake in Greece’s Atalanta Golden Yachts yacht management company.

The Fraser Yachts Group is wholly owned by MarineMax and offers yacht chartering, brokerage, management, and new builds.

Atalanta Golden Yachts is, according to Zepos & Yannopoulos, the market leader in the management, sales, and chartering of crewed yachts in Greece.

According to the firm, “the integration of AGY with worldwide Fraser Yachts Group aims to enhance and strengthen the provision of unparalleled luxury yachting experiences to a growing number of customers worldwide and solidify Fraser’s position in the Greek market.”

The Zepos & Yannopoulos team included Partners Stefanos Charaktiniotis and Maria Zoupa, Senior Associates Danai Falconaki, Natali Kapsi, and Diana Tsourapa, and Associates Elia Bastali and Artemis Bakagianni.

Zepos & Yannopoulos has advised Alpha Bank on Project Cell – the sale of a portfolio of unsecured sub-performing and non-performing loans with a total exposure of approximately EUR 1.6 billion.

The Zepos & Yannopoulos team included Partner Christina Papanikolopoulou,  Of Counsel Kitty Fragalexi, Senior Associate Mary Nigritinou, and Associates Magda Tsatsi and Pinelopi Klara.

Zepos & Yannopoulos did not respond to our inquiry on the matter.

Editor’s Note: After this article was published, Bernitsas Law announced it had advised Hoist Finance on the acquisition of the Project Cell portfolio. The firm’s team was led by Partner Athanasia Tsene. Hoist Finance is a Swedish financial institution listed on Nasdaq Stockholm.