Papapolitis & Papapolitis has advised Intracom Holdings on the sale of its 27.6% shareholding in KLM SA for EUR 11.1 million to investors who will also participate in the share capital increase of Intracom Properties, a subsidiary of Intracom Holdings.
According to Papapolitis & Papapolitis, "the share capital increase will total EUR 25 million, with EUR 11 million covered by Intracom Holdings. Intracom Properties will remain the major shareholder of KLM SA and will subsequently be absorbed by the latter as already announced. These actions represent the initial steps toward the implementation of the new Evropi Holdings structure, positioning the Intracom group in the insurance business."
Earlier in 2024, Papapolitis & Papapolitis advised Intracom Holdings on its EUR 46.5 million acquisition of Europa Insurance (as reported by CEE Legal Matters on June 6, 2024). In 2023, Papapolitis & Papapolitis advised on the sale of Intracom Defense to Israel Aerospace Industries (as reported by CEE Legal Matters on August 9, 2023) and on Intracom Holdings subsidiary Intracom Properties' EUR 18.74 million acquisition of a stake in KLM S.A. from the Lappas family (as reported by CEE Legal Matters on May 24, 2023).
The Papapolitis & Papapolitis team included Partner Evi Tsilou with Senior Associates Crysoula Giannopoulou and Anna Pavlaki.
Papapolitis & Papapolitis did not respond to our inquiry on the matter.
