ForefrontHighlights
POTAMITISVEKRIS represented the Athens International Airport S.A. for its IPO and listing on the Main Market of the Athens Exchange Greece
We proudly announce that we represented the Athens International Airport S.A. for its IPO and listing on the Main Market of the Athens Exchange. The combined (Greek and international) offering by the Hellenic Republic Asset Development Fund of its 30% stake was oversubscribed by approximately 11.6 times, with the gross proceeds amounting to €784.7 million, implying an initial market capitalization of €2.46 billion. This landmark IPO, the largest in Greece for 18 years and the first IPO in Europe for 2024, marks a historic milestone for the Greek capital markets.
POTAMITISVEKRIS’ core team consisted of George Bersis (Managing Partner), Vassilis Stergiou (Partner), Elena Theocharakou (Senior Associate) and Maria Glynou (Associate).
POTAMITISVEKRIS advised GEK TERNA S.A. in the private placement of shares representing c. 5.8% of its issued share capital to selected institutional investors
George Bersis (Managing Partner), Elena Theocharakou (Senior Associate) and Elisabetta Lentsiou (Associate) advised GEK TERNA S.A. in the private placement of shares representing c. 5.8% of its issued share capital to selected institutional investors. The total proceeds of the private placement amount to €79.2 million.
We are delighted to have participated in this transaction, which confirms the trust of the investment community in GEK TERNA S.A. and reaffirms the momentum of the Greek capital markets.
POTAMITISVEKRIS acted as Greek legal counsel to Theon International Plc in the listing of its shares on Euronext – Amsterdam
We are delighted to announce that we acted as Greek legal counsel to Theon International Plc, a leading developer and manufacturer of customizable night vision and thermal imaging systems for military and security applications in Europe, in the listing of its shares on Euronext – Amsterdam. The listing was preceded by the successful private placement of new and existing shares of Theon International to eligible institutional investors in various jurisdictions, representing in total 20% of the company’s share capital, with total gross proceeds amounting to €140 million (market cap €700 million). Our team was led by Alexander Metallinos (Partner) and Maria Perifanou (Partner), supported by Eleana Baya (Senior Associate), Elena Theocharakou (Senior Associate) and Evangelia Natsi (Associate).
Major win for our criminal litigation team
Our Senior Associate, Natalie Zourenko Chrisagi, achieved the acquittal of the accused CEO along with our Head of Dispute Resolution & White collar crime, Konstantinos Papadiamantis. The executive of German military defense manufacturer was facing the charges of corruption and was acquitted of all charges by the Greek Court for felonies after 4 years of trial.
Credit institutions – Refund of appr. €77M to a major Greek credit institution under a special liquidation regime, following the conversion of deferred tax assets (DTAs) to deferred tax credits (DTCs) – Landmark win by our tax team
We are thrilled to announce that our tax team, led by Aspasia Malliou with the support of Maria Kilatou, senior associate, has successfully handled a landmark, within the Greek banking sector, tax dispute, related to the conversion of deferred tax assets (DTAs) to deferred tax credits (DTCs) against the Greek State, giving rise to a direct refund claim of a total amount of approx. €77M to a major Greek credit institution under special liquidation regime. Our tax team has supported the latter on initiating the special procedure, as provided under Article 27A of Greek Law 4172/2013, applicable on credit institutions, allowing for the conversion of DTAs to DTCs against the Greek State. Following, the submission of a special request, grounded on a complex legal and accounting argumentation, the Greek Tax Authorities assessed the request and audited the legal and accounting documentation, concluding that the credit institution is entitled to the direct refund of deferred tax credits of approx. €77M. The above pioneering outcome relating to a very new procedure for the conversion mechanism of DTAs to DTCs has a significant impact, as it creates a precedent for DTCs refunds in the whole banking sector.
Α landmark transaction in the Greek cement and quarry industry.
We are happy to announce that our law firm supported HERACLES Group, a member of Holcim in the negotiation and execution of the agreement for its acquisition of Larsinos SA, a landmark transaction in the Greek cement and quarry industry. Our team is led by Partners Vassilis Stergiou (M&A), Dimitrios Loukas (Competition), and Theologos Mintzas (Real Estate & Environment), and supported by Associates Nikolas Sigkridis, Kostas Manikas, Ioanna Kefaloniti, Ilia-Aikaterini Boura, Anastasia Bolari, Marialena Papageorgiou, Elisabetta Lentsiou, Nikoleta Nikolaou, and Elena Theodoropoulou.
POTAMITISVEKRIS advised the Hellenic Financial Stability Fund (HFSF) as selling shareholder in connection with the secondary offering of existing shares representing a 22% shareholding in the share capital of National Bank of Greece S.A.
We are delighted to announce that we advised the Hellenic Financial Stability Fund (HFSF) as selling shareholder in connection with the secondary offering of existing shares representing a 22% shareholding in the share capital of National Bank of Greece S.A. The transaction was structured as a fully marketed offering consisting of a public offering in Greece and a private placement book-building process to QIBs in the USA and to certain other institutional investors outside of the USA.
This historic transaction for the capital markets and the banking system of Greece is one of the most successful ones, with the combined offering being oversubscribed by more than 8 times, and the total gross proceeds raised by the HFSF amounting to circa €1.067 million.
Our team was led by Managing Partner George Bersis, assisted by Senior Associate, Elena Theocharakou and Associate, Elisabetta Lentsiou.
POTAMITISVEKRIS supported the consortium of EFA, BFG and GEK Terna in the signing of the sub-concession agreement for the operation and maintenance of Filippos B Port in Kavala
Theologos Mintzas (Partner) and Anastasia Bolari (Associate) supported the consortium of European Finance & Aerospace Ventures SA, Blacksummit Financial Group and GEK Terna in the signing of the sub-concession agreement for the operation and maintenance of the Filippos B Port in Kavala. Dimitris Loukas (Partner) and Kostas Manikas (Associate) advised with regard to competition law issues. This was the first ever port sub-concession agreement in Greece and an important infrastructure transaction for the development of Northern Greece.
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