Work Highlights

State Aid

Dimitris Loukas and team advised the Hellenic Republic Asset Management Fund in relation to state aid issues possibly arising in the context of a tendering procedure for a concession award.

Abuse of Dominant Position

Dimitris Loukas and team advised a Greek telecommunications provider in ongoing proceedings before the Hellenic Telecommunications & Post Commission in relation to a case of alleged abuse of dominant position by way of margin squeeze against two other telecommunications providers.

Energy Sector Financing

George Bersis and team acted as counsel as to Greek law to a leading company in the oil and petrochemical sector, with respect to the guarantee of approximately €350 million senior notes issued by its UK based affiliate listed on the Irish Stock Exchange and the issuance of an intragroup bond loan of an equal amount.

Sale of Commercial Real Properties

George Bersis and team advised a bank liquidator on the sale through an open tender of commercial real estate properties with an aggregate value of EUR 28.5m.

Airport Concession

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

ICC Arbitration

Vicky Psaltis and team successfully represented a Greek subsidiary of a multinational group in an ICC arbitration relating to a tax indemnity claim pursuant to a share purchase agreement.

Sale of Major Cosmetics Company

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.

Food Company Restructuring

Euripides Ioannou and team represented the financing banks in the context of the negotiation and implementation of an investment and debt restructuring agreement for one of Greece’s cured meat companies. The project involved, among other things, a €20 million investment in the company’s share capital by a third party investor which is one of Greece’s largest food companies, a restructuring of debt valued at approximately €81 million and a debt to asset swap of a commercial real estate property located in Athens, Greece.

Acquisition and Transfer of Assets in Pharmaceutical Sector

Alexandros Kortesis and his team advised the local arm of two multinational leading pharmaceutical companies on the transfer of assets of a gastroenterology medicine for patients with mild to moderate Crohn’s disease and ulcerative colitis in Greece with an estimated global value of $215m.