Even with the delta variant being prominent in Greece, the country seems to be on an upward trajectory, according to Nassos Felonis, Partner at Bahas, Gramatidis & Partners.
Greece’s real estate sector has always contributed significantly to the development of the nation’s economy. It has to be noted that Greece is a country where home ownership rates are among the highest in Europe. Also, real estate was traditionally considered by most Greeks as a rather safe investment. Thus, real estate is favorably affected by tourism, which is another huge sector of the Greek economy. All of these factors led to the sector’s remarkable growth, which peaked in 2007.
Norton Rose Fulbright has advised PPC Renewables S.A. and its Iliaka Parka Dytikis Makedonias 1 S.A. subsidiary on financing for a EUR 8.7 million project for the construction of a 15MW photovoltaic park in Ptolemaida, Greece, from National Bank of Greece and Eurobank. The European Investment Bank has also been provided with the right to participate in the financings.
DLA Piper, working with Potamitis Vekris in Greece, Bojanovic & Partners in Serbia, and Tashko Pustina in Albania, has advised Team.Blue on its acquisition of the Enartia Group from founders Aggela Anthoulaki, Dimitris Anthoulakis, and Frank Maounis. The Kyriakides Georgopoulos Law Firm advised the sellers.
Bernitsas Law has advised CVC Capital Partners on the acquisition by Venetiko Holdings SMSA, a Greek company that is 100% owned by funds managed or advised by CVC, of an approximately 99.47% stake in Vivartia Holdings from the Marfin Investment Group and Piraeus Bank, as well as on the financial restructuring of Vivartia’s group bank debt.