Bernitsas Law, working with Linklaters, has advised GIC on a strategic partnership with the Sani/Ikos Group. Kirkland & Ellis reportedly advised the Sani/Ikos Group.
Closing is expected in the fourth quarter of 2022, pending regulatory approval.
GIC is an investment company that manages Singapore's foreign reserves. The company has investments in over 40 countries. The Sani/Ikos Group develops, owns, and operates resorts in the Mediterranean region, with over 2,750 rooms and suites spread across ten resorts in Greece and Spain.
According to Linklaters, under the partnership agreement, GIC will become the leading shareholder in the Sani/Ikos Group, alongside the group's management team. The transaction values the Sani/Ikos Group at EUR 2.3 billion. "The new partnership with GIC will further strengthen the resources available to the Sani/Ikos Group to deliver on its five-year investment plan of over EUR 900 million, contributing to the support of local economies and the creation of new jobs in the Mediterranean," the firm informed.
The Bernitsas Law team was led by Partners Lambros Belessis and Evi Kitsou and included Partner Athanasia Tsene, Counsel Linda Vasaka, and Senior Associates Christina Zakopoulou, Eleni Gerasimidou, Maria Kloni, and Mara Lissari.
The Linklaters team included London-based Partners Tom Watkins, Matthew Plaskow, and Chris Smale, Managing Associates Amy Barker and Alexei Franks, and Associate Jessica Dougan.
