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Clifford Chance Advises MediaMarktSaturn on Restructuring of Greek Operations

Clifford Chance Advises MediaMarktSaturn on Restructuring of Greek Operations


Clifford Chance and Bernitsas have advised MediaMarktSaturn on the restructuring of its Greek operations and the establishment of a joint venture with the Olympia Group to cover the Greek and Cypriot markets. Papadimitriou – Pimblis & Partners reportedly advised Olympia on the deal, which remains subject to approval from the relevant competition authorities.

As a result of the joint venture, MediaMarktSaturn will hold 25% of the shares in the new company, with the Olympia Group holding the remainder. Both parties will transfer their operating companies in Greece and Cyprus to the new entity.

The Dusseldorf-based Clifford Chance team consisted of Partners Christoph Holstein, Claudia Milbradt, and Marc Besen, Counsel Dimitri Slobodenjuk, Senior Associate Tobias Kamerling, and Associates Niklas Zientek, Gunter Barth, and Nicolas Hohn-Hein.

Editor's Note: After this article was published Bernitsas Law and Papadimitriou – Pimblis & Partners confirmed their involvement in the deal. The Bernitsas Law team was led by Partner Lambros Belessis and included Partners Yannis Seiradakis, Evi Kitsou, and Marina Androulakakis. The Papadimitriou – Pimblis & Partners team that advised Olympia Group on Greek law aspects of the deal consisted of Managing Partner Nikos Pimblis and Partner Nikos Xenoyiannis. 

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