Karatzas & Partners is the exclusive contributor of the 2020 edition of Lexology Getting The Deal Through Public M&A/ Greek chapter
Catherine Karatzas, Partner, Alexandra Kondyli, Partner and Eleana Rouga, Associate provide an overview of the common structures and regulatory treatment of public M&A transactions in Greece.
Karatzas & Partners is the exclusive contributor of the 2020 edition of Lexology Getting The Deal Through Public M&A/ Greek chapter
STRUCTURES AND APPLICABLE LAW
Types of transaction
1 How may publicly listed businesses combine?
Combinations of publicly listed businesses can be effected through the same methods that private companies have available, although the relevant processes for listed businesses are more enhanced with respect to related disclosure requirements and protection of minority shareholders.
In general, business combinations may take the form of an asset or a share deal or can be effected through a corporate transformation.
Shares deals are usually preferred against a transfer of business structure, as the latter entails the joint liability of both the seller and the buyer for liabilities that relate to the specific business and have been
created until the date of the transfer (article 479 of the Greek Civil Code).
Nevertheless, a transfer of business can also be effected through a corporate transformation, which is easier to complete as it entails the universal succession of the transferor by the transferee by operation of law.
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