24
Wed, Apr
37 New Articles

Closing: Sale of Majority Stake in Ydrogios Insurance to Reale Group Now Closed

Closing: Sale of Majority Stake in Ydrogios Insurance to Reale Group Now Closed

Greece
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

On February 21, 2024, Zepos & Yannopoulos announced that the sale of an approximately 77% stake in Ydrogios Insurance to the Reale Group (as reported by CEE Legal Matters on July 17, 2023) had closed.

According to Zepos & Yannopoulos, "the acquisition of the majority stake in Ydrogios Insurance and Reinsurance by the Reale Group has been completed, following the relevant regulatory approval by the Bank of Greece."

Ydrogios Insurance is a Greek non-life insurance and general insurance company. The company serves over 400,000 policyholders and operates through a network of 2,000 independent insurance intermediaries.

As previously reported, Bernitsas Law had advised the majority shareholders of Ydrogios Insurance, while Zepos & Yannopoulos advised the Reale Group.

According to Bernitsas, "the agreement was signed on July 5, 2023, and the first stage of the transaction was completed on February 19, 2024."

The Zepos & Yannopoulos team included Partner Anastasia Makri, Senior Associates Mariliza Myrat, Smaragda Spyrou, and Natalia Kapsi, and Associates Katerina Vogiatzi, Evgenia Psoma, Sofia-Zoi Paraschou, and Danai Mini.

The Bernitsas Law team included Partners Lambros Belessis and Evi Kitsou and Senior Associate Anastasia Kaiara.

Our Latest Issue