Labor shortages have emerged as a pressing issue across CEE, prompting diverse responses from governments, businesses, and the public as they navigate the challenges of workforce gaps and economic sustainability.

Lambadarios has advised International School Partnership on its acquisition of Ekpaideutiria Platon. Koutalidis advised the shareholders of Ekpaideutiria Platon.

Over the past two decades, the Greek State has increasingly relied on self-financing techniques for large-scale infrastructure projects, namely concession agreements and public-private partnership (PPP) agreements which differ from the traditional public works contracts first of all in terms of private financing (either through equity or bank financing) provided by the contractor against consideration. At the same time, the contractor assumes significant part of the associated economic and business risks.

Pursuant to an announcement issued today by the President (Judge) of the Council of State, the Court (in Plenary Session) has ruled that articles 10, 15§8, 19§2 and 25 of the New Building Regulations (“ΝΟΚ”) are not consistent with article 24 §§1 and 2 of the Constitution.

Bernitsas Law has advised Thanos Hotels & Resorts on a EUR 107 million refinancing package from Piraeus Bank.

Koutalidis has advised a consortium comprising Fraport Frankfurt Airport Services Worldwide, Delta Airport Investments, and Pileas on a 40-year concession for Kalamata Airport Captain Vassilis Konstantakopoulos via a tender conducted by Growthfund, the National Fund of Greece.

Zepos & Yannopoulos has advised Pradera on the sale of its shares in Trivillage Developments Greece Cinema and Entertainment Enterprises Single Member, the owner of the Village Shopping & More center in Renti, to Premia Properties Group entity Renti to Go Single Member.

Greece’s renewable energy sector has been experiencing a surge in activity, according to Junior Partner Prokopis Linardos. Prokopis discusses the rise of corporate PPAs, the impact of streamlined licensing processes, and the growing focus on energy storage and offshore wind projects while reflecting on the country’s ambitious decarbonization targets and what the future holds for the sector.

Lambadarios has advised Piraeus Bank on the EUR 620 million financing of a Terna Energy pumped hydro storage station in the municipality of Amfilochia, Western Greece. Marinos | Petroulias & Partners reportedly advised Terna Energy.

On December 2, 2024, Bernitsas Law announced that Abu Dhabi Future Energy Company's acquisition of Terna Energy (previously reported by CEE Legal Matters on June 24, 2024) has now closed.

On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.

Bernitsas has advised China State Grid on its acquisition of a 20% stake in Greece's Independent Power Transmission Operator's subsidiary Ariadne Interconnection which is responsible for implementing the electricity interconnection between Attica and Crete.

Bernitsas has advised Piraeus Financial Holdings on a liability management exercise consisting of an invitation made to holders of its outstanding EUR 500 million fixed-rate reset tier 2 notes due February 2030 to tender their notes for purchase by PFH for cash and on the issuance and offering to international and domestic institutional investors through a bookbuilding process of EUR 650 million tier 2 fixed rate reset notes due September 2035, as well as on the listing of the new notes on the Euro MTF market of the Luxembourg Stock Exchange.

Potamitis Vekris has advised Eurobank and Eurobank Leasing Single Member on asset management agreements and service level agreements with Cerved Property Services Single Member regarding the management of Eurobank Group’s real estate portfolio.

Koutalidis has advised the Hellenic Gas Transmission System Operator on its issuance of a bond loan of up to EUR 710 million with National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank as acting as arrangers, NBG and Piraeus Bank also serving as bondholder coordinators, and Alpha Bank acting as bondholder agent and administrative agent. Lambadarios advised the banks.

Former Eurobank Head of Legal Services Division Alexia Kefalogianni has joined Bernitsas Law as Counsel.

In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

The development of offshore wind farms in Greece represents an ambitious step in the country’s energy transition, further promoting the shift towards renewable energy sources and the reduction of carbon dioxide emissions. The regulatory framework governing the installation and operation of offshore wind farms has evolved significantly in recent years, reflecting both national and international energy commitments, as well as the technological and environmental challenges accompanying such investments.