Corporate and Mergers & Acquisitions

We are pleased to announce that POTAMITISVEKRIS has acted as legal advisor to OTE S.A. in the successful sale of its 94.09% equity in Otesat-Maritel S.A. to Orbyt Global S.A.

Otesat-Maritel S.A., a company specializing in maritime communications and satellite telecommunications for the Greek and international shipping industry, has been acquired by Orbyt Global S.A., another prominent entity in the maritime telecommunications sector. The transaction aligns with OTE’s strategic priorities and is expected to foster new growth opportunities for Otesat-Maritel.

The transaction, which followed over a year of negotiations, was led by Alexandros Metallinos, Partner, with the support of Regina Keramida (Associate).

We are delighted to announce that POTAMITISVEKRIS is acting as legal advisor to Farallon Capital Management with respect to the sale of its majority stake in Euromedica Group’s clinics and rehabilitation centers business sector to Imithea Single Member S.A., owner of Henry Dunant, one of the largest hospital centers in Southeastern Europe. The transaction includes the sale of five general and obstetrics clinics and one rehabilitation center in Thessaloniki, Rhodes and Kozani, as well as procurement, IT and real estate management companies. The parties have entered into the relevant legally binding agreement (SPA) while closing of the transaction is subject to the required regulatory approvals.

Our team was led by Vassilis Stergiou (Partner) assisted by Spyros Roussakis (Senior Associate), Konstantinos Rachianiotis (Senior Associate) and Christos Chionas (Associate).

We are proud to announce that POTAMITISVEKRIS’ Corporate and Mergers & Acquisitions team represented and advised Fourlis Group on the execution of a number of agreements regarding licence rights for the Foot Locker network in eight countries in Southeast Europe and the acquisition of the existing Foot Locker network in Greece and Romania. The transaction was coordinated by Alexandros Kortesis (Partner) with the valuable assistance of Eleana Baya (Senior Associate) and Dimitra Anagnostopoulou (Junior Associate).

We are delighted to announce that POTAMITISVEKRIS acted for Minerva SA Edible Oils & Food Enterprises on the sale of its business unit of feta cheese and white cheese production to Desserta Hellas S.A. Our team was led by Vassilis Stergiou (Partner) and Maria Perifanou (Partner), assisted by Spyros Roussakis (Senior Associate) and Maria Glynou (Associate).

We are proud to announce that our law firm, advised UBITECH LTD on the conclusion of a joint venture agreement with 7000 HOLDINGS SA (which belongs to the D. Giannakopoulos Group), resulting in the launch of a new entity, UBI7000 Innovations SA.

UBI7000 Innovations SA aims to revolutionize the technology landscape by providing cutting-edge solutions and services to both Greek and international markets.

Our team was led by Partner Maria Perifanou.

We are delighted to announce that PotamitisVekris acted for GEK TERNA Group together with Reed Smith LLP on the landmark deal struck with Masdar with respect to TERNA ENERGY, the largest renewables investor in Greece. The 3.2 billion euro deal is the largest energy transaction on the Athens Stock Exchange and one of the largest in the EU renewables industry. Our team was led by Vassilis Stergiou (Partner) and Eleana Baya (Senior Associate), while Aspasia Malliou (Partner) advised on tax law matters of the transaction.

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 Piraeus Bank throughout the sale of the entire share capital of Piraeus Group’s leasing subsidiary, ‘Sunshine Leases’, including a, classified as held-for-sale portfolio of leasing Non-Performing Exposures (NPEs), to Hellas Capital Leasing, a subsidiary of Bain Capital Credit.
POTAMITISVEKRIS led the transaction and advised on all matters related to Greek law.

Our team was led by Maria Perifanou, Partner together with Partner Theologos Mintzas (for real estate issues) assisted by Associates Palmyra Chantzara and Evangelia Natsi.

We are proud to announce that our law firm advised Cepal Hellas Financial Services S.A. on the Greek law aspects of the merger of Kaican – Resolute IKE its and the conclusion of a joint venture agreement with Resolute Asset Management Group resulting in the combination of their activities in the real estate management market. This strategic alliance will consolidate the market leadership of the parties in the Greek real estate servicing, asset management and advisory space and radically upgrade the services offered in the Greek market. Our team was led by Partner Maria Perifanou, assisted by Associate Palmyra Chantzara.

POTAMITISVEKRIS supported a Greek department store for its acquisition by a listed holding company, a landmark transaction in Greek retail. Our team was comprised of partners: George Bersis, Vassilis Stergiou, Euripides Ioannou, Alexios Papastavrou, and Aspasia Malliou

We are happy to announce that our law firm supported HERACLES Group 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), Dimitris Loukas (Competition), and Theologos Mintzas (Real Estate & Environment), and supported by Associates: Nikolas Sigkridis, Kostas Manikas, Ioanna Kefaloniti, Ilia Boura, Anastasia Bolari, Marialena Papageorgiou, Elisavet Lentsiou, Nikoleta Nikolaou, and Elena Theodoropoulou.

We are delighted to announce that the sale of Depa Infrastructure SA by the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum SA to Italgas, one of the leading gas distributors in Italy and the third largest market player in Europe, has been successfully completed. This is a landmark transaction for the Greek energy sector and our economy in general, in a very crucial and sensitive period for the entire European energy market. Maria Perifanou, Senior Associate of our M&A team, with the guidance of our Managing Partner Stathis Potamitis and the assistance of Associate Palmyra Chantzara, successfully led the effort. The team was also valuably assisted by Partner Dimitris Loukas and Associate Kostas Manikas on competition law & regulatory matters, Senior Associate Alexia Tzouni on corporate law matters, and Senior Associate Dimitra Rachouti on energy law matters.

George Bersis, assisted by Elena Theocharakou and Elli Anastopoulou represent a consortium of shareholders with respect to the management of their investment in a Greek listed credit institution. The mandate includes advising on various corporate law and corporate governance matters as well as on shareholders’ negotiations regarding future capital actions in the investee institution.

Co-Managing Partner George Bersis, Senior Associate Elena Theocharakou and Associates Anastasios Charalampous and Elli Anastopoulou advised one of the Greek systemic banks on the acquisition of one of the most successful Greek alternative investment fund managers, licensed by the HCMC, with total assets under management exceeding €1bn.

Co-Managing Partner George Bersis and Senior Associate Amalia Balla advised one of the largest owners of hotel resorts in Southern Europe on the complex acquisition of a company owning and operating a hotel resort, situated in Elounda, Crete, following its demerger. The team was joined by Partner Theologos Mintzas and Associate Anastasia Bolari, who advised on the negotiations regarding the refurbishment and management of the resort.

George Bersis, assisted by Elena Theocharakou and Anastasios Charalampous, advised a leading listed construction and RES company on the increase of its share capital with preemption rights, through a public offering, with c. 51 m EUR total proceeds.

George Bersis, assisted by Elena Theocharakou and Anastasios Charalampous advised a Greek listed credit institution in the admission to trading of Euro denominated warrants representing a deferred tax credit of c. 152m EUR which were converted into new ordinary shares of the issuer. The transaction was followed by a share capital increase with pre-emptive rights in favour of existing shareholders of the issuer, through a public offering, with 240m EUR total proceeds.

George Bersis and Amalia Balla advised a REIC on the signing of a MoU with a big developer for the joint acquisition of land plots in the western suburbs of Attica, and co-development of a big logistic center.

POTAMITISVEKRIS acted as local advisor of a Greek leading company in the Telecommunications sector, to a complex corporate transformation and specifically, to the partial demerger of the sector of fiber optics and the creation of a new company, that will be an accelerator of investments in new generation networks and will contribute substantially to the shaping of the new digital page of Greece.
The POTAMITISVEKRIS team was led by Partners Alexandros Kortesis and Stathis Potamitis and supported by Senior Associates Alexia Tzouni and Varveri Christina, as well as by Palmyra – Maria Chantzara (Associate) and Olga Bezantakou (Junior Associate).

Partners George Bersis, Vassilis Stergiou and Theologos Mintzas, assisted by Associates Ioanna Kefaloniti and Dimitra Androulakaki, successfully advised a major international concrete company in the acquisition of a quarry and two RMC plants in Attica, Greece. Our team provided legal support in the complex due diligence exercise as well as throughout the negotiations and the execution of this challenging transaction.

Partners George Bersis, Vassilis Stergiou and Theologos Mintzas, assisted by Associates Ioanna Kefaloniti and Dimitra Androulakaki, successfully advised a major international concrete company in the acquisition of a quarry and two RMC plants in Attica, Greece. Our team provided legal support in the complex due diligence exercise as well as throughout the negotiations and the execution of this challenging transaction.

POTAMITISVEKRIS acts as legal advisor in one of the most significant privatizations in the Greek energy market. Stathis Potamitis, Head of our Corporate and M&A team, Dimitrios Loukas Head of our EU, Competition & Antitrust team, and Maria Perifanou, Senior Associate of our Corporate and M&A team, assisted by Palmyra Chantzara (Associate) and Konstantinos Manikas (Associate) as well as by Alexia Tzouni (Senior Associate) and Dimitra Rachouti (Senior Associate), advise the majority shareholder of a leading public gas distribution company in the sale of its shareholding through an international public tender process. The recent announcement of the preferred bidder in the tender process marks a significant milestone towards the successful completion of the privatization.

As a law firm being always present in “game changer” transactions in Greece, POTAMITISVEKRIS acted as local legal advisor on a cornerstone transaction in the Greek telecommunications market.
Under this transaction and subject to the necessary regulatory clearances, a leading telco and media operator in Southeast Europe will ultimately acquire one of the largest telecommunication providers in Greece, aiming to create a leading telco and media operator in Greece. Closing of the transaction is expected in 2022.
Alexandros Kortesis led the POTAMITISVEKRIS’ Corporate and M&A team and Dimitris Loukas led the firm’s EU, Competition & Antitrust team. Our team of associates consisted of Alexia Tzouni, Olga Bezantakou and Christina Varveri.
POTAMITISVEKRIS acted as a local legal advisor to the parent shareholding company of the target telecommunications company in Greece.

George Bersis and team acted as legal counsel to a leading listed construction company, for the merger through absorption of a RES company and the listing of the new shares on ATHEX

George Bersis and team acted as legal advisors to one of the most specialized plant bakery in Greece for the production of part-baked frozen bakery items, for the creation of a joint venture with an international bakery group with regard to Greece, Cyprus, North Macedonia and Albania

George Bersis and team acted as legal advisors to the seller for the sale of the majority holding in a company listed on ATHEX, active in the carton packaging industry, to a private equity fund. The transaction was completed on 31.12.2021 and also involved the sale of minority holdings, with a total consideration of approx. € 28m.

George Bersis and his team advised the leading investor in leisure hotels in southern Europe, on the reverse merger of five holding companies via absorption by their subsidiaries, which are companies operating hotels in Greece.

George Bersis and team acted as legal advisors for the share capital increase with contributions in kind, with a total vaue of €20m, of a company listed on ATHEX, active in the real estate development industry. The share capital increase signifies the entry of a new investor in the shareholders structure of the company, through contribution of two logistics real estate assets located in Aspropyrgos, Attica, Greece, as well as the integration of a concession for the operation of 10 schools in Attica into the company, through contribution of the concession entity by the controlling shareholder.

George Bersis and team acted as legal advisors to one of the largest investors in the RES sector in Greece for the share capital increase and the disposal of the new shares through private placement, for a total price of approx. €70m, to international funds.

George Bersis and Vassilis Stergiou advised a leading department store in its group reorganization and expansion of its shareholder base

Vassilis Stergiou and team advised a fund on the acquisition of a Greek leading olive oil company, through a tender process.

George Bersis and team advised a leading petroleum company on the acquisition of a Greek credit institution, through tender process.

Euripides Ioannou and team advised a Greek bank on a leveraged financing relating to the acquisition by an Egyptian publicly listed company of 64MW of wind and hydro assets from a Greek energy company.

George Bersis and his team successfully supported the conclusion of the tender and sale of a landmark greenfield public property in Afantou Rhodes. The value of the transaction exceeded Euro 15 million.

Vassilis Stergiou and team advised a private equity fund for the acquisition of a single-name loan portfolio in the healthcare business.

Stathis Potamitis and Dimitris Loukas are advising the Hellenic Republic Asset Management Fund on the sale of its stake in a leading gas utility company

George Bersis and team advised a leading Greek airline carrier on the underwriting agreement for the public offer of €200m bonds listed on ATHEX.

Alexandros Kortesis and team advised a leading multinational rail transport industry on its contemplated transaction with a leading industrial, energy, healthcare and transport company, regarding European and national public procurement law framework and corporate and employment matters.

Vassilis Stergiou and team advised a leading petroleum company on the acquisition of a majority stake in a Greek media group.

George Bersis and team advised a leading global alternative investment management firm with expertise in credit strategies for the acquisition of the majority shareholding of a leading healthcare listed company and the refinancing of its debt

Xenophon Paparrigopoulos and his team advised a leading US engineering simulation software company on the acquisition of a Greek industry-leading company of electromagnetic crosstalk solutions for systems on chips.

Alexandros Kortesis and team advised a multinational pharmaceutical group for the submission of a bid for the acquisition of a leading consumer health business portfolio of iconic and trusted brands across Pain, Cold & Flu, and other over-the-counter categories, in a number of countries, including Greece. The estimated value of the transaction was 1,6 bn Euros.

Stathis Potamitis advised three of the four Greek systemic banks on the sale of a hotel business in satisfaction of claims ancillary to a ratified and implemented restructuring agreement.

Stathis Potamitis and Dimitris Loukas are advising a major Greek telecommunications company on its bid to acquire another pay-TV and broadband services provider

Vassilis Stergiou and team advised an alternative investment fund manager on the acquisition of a stake in a leading electronic money institution.

George Bersis and Vassilis Stergiou advised the Hellenic Republic Asset Development Fund on the 20- year extension of the Athens Airport concession.

Stathis Potamitis and team advised the shareholders of a major Greek cosmetics company in the sale of a majority stake to an international fashion and fragrance firm.

Alexandros Kortesis and his team advised the local arm of a leading printing company in the merger of its two subsidiaries in Greece.

Stathis Potamitis and team advised an international group in the acquisition of a major domestic insurance company with a value of €300m.

Alexandros Kortesis and team advised one of the biggest marble production companies in Greece on a €21.6m agreement for the sale and installation of marbles in the Russian Federation.

George Bersis and team advised certain foreign private equity funds and international investors on all the Greek law aspects related to the acquisition and financing of the largest M&A in the hotel sector to take place in 2015.

George Bersis and team advised a multinational fruit company in the cross border merger of its Greek subsidiary into its Dutch subsidiary and the establishment of a local branch.

Alexandros Kortesis and team advised the local arm of a multinational generic pharmaceutical company on the acquisition of a branded specialty and generics business.

Stathis Potamitis helped to establish two alternative investment fund structures focused on investments in the local market and provide continuing support to both funds for prospective investments.

Alexios Papastavrou and team advised the Greek government on complex labour negotiations relating both to privatization and revamping of the public sector, amendments of Code of Civil Procedure and the implementation of OECD recommendations.

Stathis Potamitis and George Bersis represented the preferred bidders in the acquisition of the Greek subsidiary of a distressed international group in the retail sector.

Vicky Psaltis and team advised a foreign entity with a presence in numerous countries on the establishment of a branch in Greece.

Stathis Potamitis and Vicky Psaltis acted for an international investor in an ICC arbitration of an acquisition contract dispute. The case led to a settlement following an ad hoc mediation.

George Bersis and team advised a group of foreign investors who became the cornerstone investors in a major Greek bank.

George Bersis led the team advised a foreign private equity fund on the acquisition of two hotels and their related financing.

Alexios Papastavrou and team advised three major Greek Banks in their reorganization and M&As.

Vicky Psaltis and team advised a Greek venture capital fund on their investment in two Greek companies.