Over the recent years, Greece has taken significant steps in stabilizing its banking sector, owing to several regulatory reforms and a strengthened capital position of its banks. Moody’s revision of the country’s outlook to “positive” in September 2024 is mainly attributed to the recovery of the Greek banking sector and the country’s strong economic performance.

Kyriakides Georgopoulos, working with Baker McKenzie, has advised Atlas Tapes on the acquisition of 100% of the paid-up share capital of PPM Industries Group from Auctus Capital Partners and the CEO of the PPM Industries group Matteo Pellegrini. Advant Nctm reportedly advised Auctus Capital Partners. PedersoliGattai reportedly advised PPM Industries and Matteo Pellegrini while Pirola Pennuto Zei & Associati reportedly advised Matteo Pellegrini.

Bernitsas has advised Ethniki Holdings Limited on the sale of its 90.01% stake in Ethniki Asfalistiki to Piraeus Bank for a total consideration of EUR 600 million on a 100% basis.

Papapolitis & Papapolitis, working with Paul Weiss, has advised Oak Hill Advisors on its equity investment of up to EUR 115 million in IDEAL Holdings, with a co-investment right for an additional EUR 200 million over the next two years. Sarantitis and Reed Smith reportedly advised IDEAL Holdings.

White & Case has advised Alpha Bank on the partial disposal of a portfolio of real estate assets in Greece. Karatzas Partners reportedly advised Alpha Bank as well. Sullivan & Cromwell and Potamitis Vekris reportedly advised the buyers.

Kyriakides Georgopoulos has advised Piraeus Bank, acting as an advisor, on the merger through absorption of Intracom Properties by Evropi Holdings.

Drakopoulos Senior Associate Sofia Angelakou talks about M&A in Greece in 2025.

The NIS2 Directive is the EU-wide legislation on cybersecurity. It provides legal measures to increase the overall level of cybersecurity in the EU by modernizing the existing legal framework, broadening the scope of covered entities, and specifying high fines (2% or EUR 10 million for essential entities, or 1.4% of global annual turnover or EUR 7 million for important entities), directly involving the board members of covered organizations and holding them accountable for any breach of the legal framework established by the new Directive.

Papapolitis & Papapolitis, working with Linklaters and Studio Legale Associato, has advised the syndicate of arrangers and initial purchasers on DoValue’s pivotal EUR 300 million high-yield bond offering, aimed at refinancing its existing debt following the acquisition of Italian credit management company Gardant. Moratis Passas, working with White & Case, reportedly advised DoValue.

CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Real Estate in CEE.

Contributed by AKL.

Koutalidis has advised Sunlight Group and Olympia Group of Companies on Sunlight Group’s ongoing strategic realignment and internal restructuring.

Bernitsas has advised Eurobank Ergasias Services and Holdings on a liability management exercise totaling EUR 588.55 million.

PotamitisVekris has advised Sani/Ikos Resorts Group on securing EUR 230 million in financing.

Bernitsas has advised Kosmocar on its acquisition of MAN Hellas Truck & Bus as well as on obtaining phase 1 merger clearance from the Hellenic Competition Commission.

Koutalidis has advised Piraeus Bank on a secured bond loan issuance of up to EUR 275 million by Aktor Concessions, with Piraeus Bank acting as both bondholder agent and paying agent, and subscribing to the full amount.

Bernitsas has advised CVC and Hellenic Healthcare Group on the disposal of a 60% stake in HHG to PureHealth Holding PJSC in a transaction that values HHG at EUR 2.2 billion.

Bernitsas has advised AP Hermes Securitization on the acquisition of an NPL portfolio of unsecured and secured loans with a total legal claim of approximately EUR 700 million.