Category: Greece

Koutalidis has advised Sunlight Group and Olympia Group of Companies on Sunlight Group’s ongoing strategic realignment and internal restructuring.

According to Koutalidis, as part of this initiative, Sunlight Group agreed to divest from Voltabox and plans to acquire Voltamobil, a company specializing in high-voltage battery solutions, thereby strengthening its position in the energy storage market. In addition, the transaction enables Sunlight Group and Olympia Group to gain control over an additional 12% of Sunlight Group’s shares, previously held by GBD, further consolidating their strategic focus.

In 2023, Koutalidis advised on Sunlight Group’s acquisition of Triathlon Holding (as reported by CEE Legal Matters on July 26, 2023) as well as on the 51% acquisition of Triathlon Holding in late 2022 (as reported by CEE Legal Matters on December 15, 2022).

The Koutalidis team included Partners Katia Protopapa and Yiannis Loizos, Senior Associates Konstantinos Papakonstantinou and Panagiota Thivaiou, and Associate George Karopoulos.

Koutalidis did not respond to our inquiry on the matter.

Bernitsas has advised Eurobank Ergasias Services and Holdings on a liability management exercise totaling EUR 588.55 million.

According to Bernitsas, the transaction involved two components: an invitation to holders of EUR 200 million fixed-rate reset callable tier 2 dated subordinated notes due June 14, 2033 – issued by Eurobank Holdings’ subsidiary, Hellenic Bank Public Company Limited – to exchange their notes for new Euro-denominated tier 2 dated subordinated notes; and the issuance of EUR 400 million fixed-rate reset subordinated instruments due 2035 offered to international and domestic institutional investors via a bookbuilding process and subsequently listed on the Euro MTF market of the Luxembourg Stock Exchange.

In 2024, Bernitsas advised Eurobank Holdings on EUR 300 million subordinated tier II instruments issuance (as reported by CEE Legal Matters on February 8, 2024). 

The Bernitsas team included Partners Nikos Papachristopoulos and Maria Nefeli Bernitsa and Counsel Alexia Kefalogianni.

PotamitisVekris has advised Sani/Ikos Resorts Group on securing EUR 230 million in financing.

Sani/Ikos Resorts Group is an owner and operator of luxury resorts in Mediterranean beachfront locations.

The financing was subscribed by a syndicate of Greek banks, supporting the group’s strategic growth and expansion plans.

The PotamitisVekris team included Managing Partner George Bersis and Associates Nikos Stefas, Katerina Pappa, and Kassiani Flaouna.

PotamitisVekris did not respond to our inquiry on the matter.

Bernitsas has advised Kosmocar on its acquisition of MAN Hellas Truck & Bus as well as on obtaining phase 1 merger clearance from the Hellenic Competition Commission.

Kosmocar is the official importer of Volkswagen, Audi, Skoda, and Volkswagen Commercial Vehicles in Greece, as well as Ducati motorcycles in Greece and Cyprus, and operates as an official sales dealership and authorized repairer for Bentley and Lamborghini in Greece.

MAN is a manufacturer of trucks and buses.

The Bernitsas team included Partners Lambros Belessis, Evi Kitsou, Marina Androulakakis, and Tania Patsalia, Counsels Christina Zakopoulou and Maria Kloni, Senior Associates Iris Sotiriou and Sildia Fotopoulou, and Associates Chryssa Andresaki, Penny Brouma, Yolanda Kalogirou, Niki Nisotaki, Martha Ntounou, and Marina Myzithra.

Koutalidis has advised Piraeus Bank on a secured bond loan issuance of up to EUR 275 million by Aktor Concessions, with Piraeus Bank acting as both bondholder agent and paying agent, and subscribing to the full amount.

According to Koutalidis, a first drawdown of EUR 177 million was completed on January 28, 2025. Proceeds from the bond loan will be used for refinancing Aktor Concessions’ existing debt and for general corporate purposes.

In 2023, Koutalidis advised Aktor Concessions and Intrakat on PPP project financing for West Peloponnese Road (as reported by CEE Legal Matters on August 4, 2023).

The Koutalidis team included Partner Ioannis Kaptanis, Counsel Dimitris Kalyvas, and Associates Nike Konidaris, Marina Angoura, and Gerasimos Siokos.

Koutalidis did not respond to our inquiry on the matter.

Bernitsas has advised CVC and Hellenic Healthcare Group on the disposal of a 60% stake in HHG to PureHealth Holding PJSC in a transaction that values HHG at EUR 2.2 billion.

CVC is a private equity and credit firm with 30 local offices worldwide.

HHG is the largest private healthcare provider in Greece and Cyprus.

PureHealth is a UAE-based healthcare group.

According to Bernitsas, CVC and HHG’s CEO will retain the remaining 40% following completion, which is currently subject to regulatory approvals.

The Bernitsas team included Partners Maria Nefeli Bernitsa, Nikos Papachristopoulos, Athanasia Tsene, and Tania Patsalia, Counsels Maria Kloni and Christina Zakopoulou, Senior Associates Fotini Karra, Maria Sofia Sfika, and Ria Venaki, and Associates Marinos Shiapanis, Maira Drymousi, Vasiliki Fasfali, Yolanda Kalogirou, Marialena Mavrikaki, and Niki Nisotaki.

Bernitsas did not respond to our inquiry on the deal.

Bernitsas has advised AP Hermes Securitization on the acquisition of an NPL portfolio of unsecured and secured loans with a total legal claim of approximately EUR 700 million.

According to Bernitsas, the loans in the portfolio had been originally sold and transferred by Piraeus Bank as part of the wider Sunrise I Portfolio.

The Bernitsas team included Partner Athanasia Tsene and Associate Odysseas Fokas.

Bernitsas did not respond to our inquiry on the matter.

KLC has advised the National Bank of Greece on the project financing of Greece’s inaugural battery energy storage project sponsored by Elsewedy Electric SAE.

According to KLC, the 50-megawatt/100-megawatt-hour battery storage system was successful in the country’s first standalone BESS tender and will receive both operating and investment aid. The total financing of EUR 41 million involves an NBG facility, co-financing under the Recovery and Resilience Facility, and investment aid through the RRF. The power generated shall be purchased through a ten-year operating agreement with DAPEEP.

KLC did not respond to our inquiry on the matter.

Zepos & Yannopoulos has advised Intertrade Hellas on a EUR 23 million financing to support its EUR 150 million investment plan.

Intertrade Hellas is a Greek paper goods manufacturer producing the Softex and Servin brands. According to Zepos & Yannopoulos, the funding package includes resources from the Greece 2.0 National Recovery and Resilience Plan, classifying the transaction under the RRF’s “Green Transition” and “Extroversion” pillars. As part of the initiative, Intertrade’s investment encompasses the installation of a new paper mill at the company’s industrial site in the Voiotia region, along with a photovoltaic system. 

The Zepos & Yannopoulos team included Partner Stathis Orfanoudakis and Associate Rania Koliouli.

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

Bernitsas has advised Georgoudis Parthenon on its partnership with the Aceitunas Guadalquivir Olives Group, backed by Alantra Private Equity.

Georgoudis Parthenon is a third-generation Greek producer and exporter of olives and Mediterranean food products.

Founded over 50 years ago, the AG Olives Group is a Spain-based company operating in the olive sector. 

According to Bernitsas, through this arrangement, AG acquires a stake in Georgoudis, aimed at enhancing the Greek company’s international expansion.

The Bernitsas team included Partners Maria Nefeli Bernitsa, Lambros Belessis, and Fotodotis Malamas, Counsel Anastasia Mallerou, and Junior Associate Marinos Shiapanis.

Bernitsas did not respond to our inquiry on the matter.