Bernitsas Law has advised Pancreta Bank on its investment in Attica Bank.
Thrivest Holding Ltd and the Hellenic Financial Stability Fund also invested in Attica Bank as part of the same transaction.
According to Bernitsas Law, “this investment is realized in the context of Attica Bank's approximately EUR 473 million equity capital raising, aiming to strengthen Attica Bank’s regulatory capital ratios and address the challenges deriving from its portfolio of non-performing exposures. The transaction also aims to facilitate the proposed subsequent merger of Pancreta Bank and Attica Bank targeting the creation of the fifth 'banking pillar' in Greece. The investment agreement was signed on 20 April 2023 and the capital raising is expected to complete by 30 April 2023.”
Bernitsas Law’s team included Managing Partner Panayotis Bernitsas, Partner Nikos Papachristopoulos, Counsel Maria Nefeli Bernitsa, Senior Associate Sofia Kontou, and Associate Kelly Hatzigaki.
Editor's Note: After this article was published, Zepos & Yannopoulos announced it had advised Thrivest on its investment in Attica Bank. The firm's team included Partners Christina Papanikolopoulou and Elena Papachristou, Senior Associate Efthymis Naoumis, and Associates Vivian Efthymiou and Pinelopi Klara.
