Norton Rose Fulbright has advised on all legal aspects of two motorway restructurings in Greece with a combined value of GBP 3.1 billion, with Hogan Lovells and Linklaters across the table on the two deals.
NRF acted for project company Aegean Motorway on the restructuring of the EUR 1.3 billion Maliakos-Kleidi motorway. The shareholders of Aegean Motorway are HOCHTIEF PPP Solutions, Vinci Concessions, AKTOR Concessions, J&P AVAX, AEGEK, and Athena. The lenders were advised by Hogan Lovells, and the Koutalidis Law Firm advised on the Greek legal aspects of the restructuring.
Norton Rose Fulbright also acted for the lenders, including 26 banks and the European Investment Bank, on the restructuring of the EUR 1.8 billion Elefsina-Korinthos-Patras-Pyrgos-Tsakona motorway. Linklaters advised Olympia Odos, the project company, and Karatzas and Partners advised on the Greek legal aspects of the restructuring.
Both restructurings closed on December 17. Construction work on the motorways is expected to resume in early 2014 and the motorways are expected to be operational by the end of 2015.
Partner Madhavi Gosavi, who led the restructurings for Norton Rose Fulbright, said that, “the successful conclusion of these two motorway restructurings has increased investor confidence and demonstrates the Greek Government’s commitment to supporting new and existing infrastructure.”
Gosavi was assisted by Norton Rose Fulbright Partners Charles Whitney, Jeffrey Barratt and Peter Hall, and by Associates Ann Vesely, Phil Hanson, Christina MacGilp, Ben Sealy, Eleanor Cochrane, and Jessica Bethell-Jones.
