We are proud to once again support ELSA Athens and the 9th Summer Law School on International Investment Law 2024, taking place from July 14th to July 21st.

This intensive 7-day program offers students from Europe and beyond the chance to explore one of the fastest-growing areas of International Law. The program features renowned professors and experts who share their insights, providing participants with a unique opportunity to deepen their understanding of International Investment Law.

We are excited to continue our commitment to the next generation of lawyers and to be part of this valuable initiative!

Our firm has successfully advised on the sale of a 70% majority stake of Middle Office Services S.A. to Qualco Group.

Middle Office Services was established in 2022 and is a market leader in offering management and monitoring services for wholesale portfolios to a variety of financial industry clients.

The K&P team was led by Nikos Fragos, Partner, assisted by Georgios Zervakis, Associate. Employment law issues were handled by Aggeliki Tsatsi, Partner, assisted by Anna Pechlivanidi, Associate, and Sotirios Goulas, Associate, while data protection issues were handled by Panagiotis Kontizas, Associate.

Congratulations to all teams involved!

We are happy to announce that our firm is the exclusive contributor to the Chambers Global Practice Guide on Cartels for 2024.

Our partner Anna Manda, senior associate Maria Kallidopoulou and associate Maria-Christina Raptopoulou contributed to the Greek chapter of Cartels Law and Practice.

This engaging guide provides expert insights in Q&A format on the basic legal framework for cartels in Greece, cartel enforcement, leniency programs, commitments, dawn raids, liabilities, sanctions, remedies, and civil litigation.

Read our chapter below.

Our firm is once again a contributor of the Lexology Panoramic – Structured Finance & Securitization 2024.

Our Associates Anastasia Mourmouti and Georgios Zervakis provide a presentation of the general framework of securitisation transactions in Greece and a comprehensive analysis on securities, bankruptcy, tax law and transactional considerations of implementing and closing securitisation transactions in Greece.

Read our contribution by clicking on the Continue Reading button below.

We are proud to announce that our firm has earned two significant distinctions!

Our partner, Christina Faitakis received the Banking & Finance Lawyer of the Year award, and our firm the South-East Europe Firm of the Year award at the Women in Business Law Awards 2024 EMEA.

Congratulations to Christina Faitakis and our entire team for these remarkable achievements!

More information: https://awards.womeninbusinesslaw.com/EMEA-winners?utm_source=linkedin&utm_medium=social&utm_campaign=WIBLEMEA

Greek Law 5113/2024 (the DLT Securities Law) explicitly recognises that Greek sociétés anonymes can issue digital securities through the blockchain technology, which can be listed on a stock exchange or other relevant trading venue. This innovative legislation is designed to ensure that Greek corporate and securities law keeps pace with the digital transformation (which promises operational efficiency and resilience), while ensuring technological neutrality.

Read here our full article below on the “Continue Reading” button.

We recently had the honor of hosting the winning team of the 17th International Roman Law Moot Court Competition: Danae Argyropoulou, Rodanthi Karavasili, Maria Fefe and Maria Margariti, from Athens Law School. Ms. Maria Margariti was also awarded the second prize for best oration.

For over a decade, our firm has been proudly supporting the moot court teams of Athens Law School, highlighting our commitment to fostering the next generation of legal professionals.

Congratulations to the team for their remarkable achievements and for demonstrating exceptional dedication and skill!

A few days ago, we had the honor of receiving the Best Workplaces 2024 Αward at the ceremony hosted by Great Place To Work® Hellas, where we were recognized in the category of 50-250 employees.

We look forward to building on this achievement and to maintain our leading position in workplace excellence!

In honor of World Blood Donor Day on June 14th, our firm, alongside our neighbors at The Orbit, Diageo and Ticketmaster, contributed to this essential cause by organizing another one blood donation drive at our office.

Voluntary blood donation is vital as it ensures a safe and sufficient blood supply for patients in need, saves countless lives and contributes to the overall health and resilience of our community.

We would like to sincerely thank our people and the medical professionals for their commitment to the cause.

This initiative not only underscores our dedication to social responsibility but also fosters a spirit of unity and compassion among our team.

The need of meaningful leadership, talent attraction and retention strategies, and the critical role of internal training and coaching of the future leaders were among the topics of the parallel session “Leading the future: the future of leadership,” hosted by our firm during the 16th National Conference of Corporate In-House Counsel by Nomiki Bibliothiki.

Our Partner Christina Faitakis directed a dynamic discussion between Catherine Karatzas, our Managing Partner, Maria Giarmeniti, HR Advisor/Head of Talent Management at AIMS International Hellas, Melina Angelides, Legal Counsel at Fraport, and Andreas Stavropoulos, Partner at Threshold Ventures and Member of the Advisory Committee on Artificial Intelligence in Greece,  on the  challenges  that leadership faces in legal departments and law firms. The panel emphasized on the challenges and necessity for adaptability, resilience, inclusivity and the importance of embracing progressive practices.

Special thanks to our guests and our vibrant audience.

The Skouries Project financing won the Best Natural Resources Deal for Central and Eastern Europe award at the 2023 EMEA Finance Project Finance Awards, marking it as the largest financing endeavor of its kind in Greece.

As Greek law legal advisor to Hellas Gold S.A., we are proud and honored to be part of a successful joint effort.

Congratulations to the internal teams of Eldorado Gold / Hellas Gold S.A., of National Bank of Greece and Piraeus Bank and legal advisors Bracewell LLP, Milbank LLP and Lambadarios Law Firm!

What is the impact of the new global order, the technological advancements, and the shifting in social values on leadership and management practices?

Gain valuable insights into leadership changes at the 16th National Conference of Corporate In House Counsel organized by Nomiki Bibliothiki, where our Partner, Christina Faitakis, will moderate a panel discussion featuring our Managing Partner, Catherine Karatzas, along with Maria Giarmeniti, HR Advisor/ Head of Talent Management at AIMS International Hellas, Melina Angelides, Legal Counsel at Fraport, and Andreas Stavropoulos, Partner at Threshold Ventures and Member of the Advisory Committee on Artificial Intelligence in Greece.

Together, they will explore the skills and strategies necessary for effective leadership in the coming decades.

For more information and registration: https://www.nb.org/16o-synedrio-dikogorwn-nomikwn-yphresiwn-info

We are very proud and happy to act as sole transaction legal counsel on the initial public offering (IPO) and listing on Athens Exchange Group of the shares of Noval Property.

The IPO of Noval Property is a milestone for Noval Property and a strong vote of confidence in the Greek real estate market, which is expected to create new investment opportunities for the company.

Noval Property IPO has been supported by EBRD, 87 Greek and foreign institutional investors and 4,752 Greek private investors who have trusted Noval Property and become its new shareholder. The public offer of the newly issued shares was oversubscribed 2.3 times.

Our core team comprised of Alexandra Kondyli, Partner, Maria Chronaki and Argiro Vagia, Senior Associates and Dimitris Passas, Associate.

Sincere thanks to our clients, for their trust and smooth collaboration on another landmark transaction! Congratulations to all teams involved!

Our firm advised ELPEDISON S.A. and its shareholders on the extension of a c.€81m bond loan with Intesa Sanpaolo S.p.A., UniCredit S.p.A. and Pancreta Bank S.A., a c.€81m bond loan with Eurobank S.A., Piraeus Bank S.A. and Alpha Bank S.A. and a c.€51m bond loan with Eurobank S.A., Piraeus Bank S.A. and Alpha Bank Cyprus Limited.

Our team was led by our Partner Christina Faitakis and our Senior Counsel Dr. Dionysis P. Flambouras and assisted by our Associate Georgios Zervakis and our Trainee Lawyer Angeliki Michalopoulou.

Νavigate the intricate dynamics of entrepreneurship and innovation, as they intertwine with the tax law at the upcoming GC Summit hosted by The Legal 500.

Our Senior Associate, Eleonora Ligoutsikou, along with legal experts Kyriaki Tzemou, General Counsel at Prodea Investments, and Katerina Patsantara, General Counsel at Gastrade, will engage in a panel discussion focusing on effective approaches for addressing tax and compliance challenges and opportunities both locally and globally.

Join us on Wednesday May 29th, at King George, a Luxury Collection Hotel for this insightful event.

For further information and registration, please visit: https://www.legal500.com/events/gc-summit-greece-2024/#overview

With great pleasure, we once again accepted the invitation for the 2nd Job Fair, organized by ELSA Athens, the European Law Students’ Association.

Over the course of the two-day event, law students had the chance to gain insights into our firm’s activities, culture and values, engaging in meaningful discussions and exploring internship and traineeship opportunities.

Representing our firm, Partners Vassiliki Salaka and Nikos Fragos, Senior Counsel Sophia Mavridou, HR Manager Aimilia Antonopoulou, and trainee lawyers Thanasis Christou, Natalia Angelou, Michalis Chatzakis and Dimitris Sfyris shared their personal experiences as part of our team.

We would like to extend our congratulations to ELSA Athens for organizing this successful event, and we look forward to joining next year!

Karatzas & Partners advised National Bank of Greece in a joint tender offer for the acquisition of the entire outstanding share capital of Epsilon Net S.A. (“Epsilon”). The tender offer was launched alongside the majority shareholder of Epsilon and General Atlantic, a financial sponsor. The transaction was valued at c. €241 mln and constitutes one of the largest investments in the Greek tech and General Atlantic’s first investment in Greece. The tender offer is subject to the approval of the information circular by the Hellenic Capital Markets Commission and receipt of relevant regulatory clearances.

The Karatzas & Partners team was led by Catherine Karatzas and Senior Associates Maria Chronaki and Olga Vinieri. The finance aspects were dealt by Christina Faitakis, Nikos Fragos and Georgios Zervakis and the competition and FDI matters by Senior Associate Maria Kallidopoulou.

Explore the impact of the Pay Transparency Directive on workforce dynamics and employer duties at the 2nd Conference on Contemporary Employment Relations: Where HR meets LEGAL.

Our partner and Head of the Employment Department, Angeliki Tsatsi will moderate a panel discussion centered around workplace equality between women and men, together with:
– Aris Dimitriadis, Executive Director of Compliance, Risk & Insurance at OTE Group
– Deta Petroglou, Attorney at Law, Member of the Legal Experts Network of the European Equality Law Network (EELN)
– George Soumelas, Legal Team Leader at Alpha Bank
– Sotiris Stamatiou, Group Human Resources Director at the Onassis Foundation, President of the Board of SDADE

Τhe conference is organized by Nomiki Bibliothiki and will take place on Thursday, May 16th at Wyndham Grand Athens, offering both in-person attendance and live streaming options.

For additional details and registration: https://www.nb.org/catalog/product/view/id/66558/s/2o-sinedrio-sigxrones-ergasiakes-sxeseis/

We are thrilled to announce that our firm has been named Best Workplace for 2024 by Great Place To Work® Hellas!

This recognition underlines our collective efforts and dedication to creating a workplace culture that values and respects the uniqueness of each individual, embraces growth, and leaves a positive impact to our society.

Our firm contributed to issue no. 3/2024 of “Theory and Practice of Administrative Law” (in Greek, Θεωρία και Πράξη Διοικητικού Δικαίου) law journal (see p. 266 et seq.), published by Nomiki Bibliothiki (content in Greek).

Our Senior Cοunsel Sophia Mavridou, specialized in Public Procurement, shares her thoughts and comments on judgement no. 1638/2023 of the Court of Auditors under the subject “An economic operator lending technical and professional capacity is not necessarily a subcontractor”.

Join us at the 2nd Women in Law Conference, where our Senior Counsel Nikolaos Zachos, will participate as a speaker in the panel “Women’s Leadership Seen Through the Male Perspective”, sharing his insights on how men perceive and contribute to female leadership in the legal profession, fostering a more inclusive and diverse environment.

The conference is organized by Nomiki Bibliothiki and will take place on Tuesday, May 14th at the Basil & Elise Goulandris Foundation.

For additional details and registration: https://www.nb.org/2o-synedrio-women-in-law.html

Another wonderful Easter charity bazaar has successfully come to an end!

With great joy we share moments from this year’s Easter bazaar, as our firm for another year hosted four charitable organizations and their beautiful Easter creations.

Make-A-Wish Greece, the Hatzikyriakio Foundation, the THEOTOKOS Foundation, and the vocational training center Margarita accepted our invitation and joined us, offering our people and neighbors at The Orbit the opportunity to contribute to their admirable causes.

Wishing you all a blessed Easter filled with love and happiness!

We are delighted to announce that in the Women in Business Law Awards 2024 EMEA our partner Christina Faitakis has been shortlisted in two practice areas, Banking & Finance and Project Finance and our firm has been nominated for the jurisdiction award in South-East Europe.

The Women in Business Law Awards recognize women who excel at working in their practice areas and reflect their outstanding achievements and innovative approaches.

Congratulations to all shortlisted firms and female lawyers.

Learn more here:
https://awards.womeninbusinesslaw.com/EMEA-shortlist#Practice-area

https://awards.womeninbusinesslaw.com/EMEA-shortlist#Jurisdiction-awards

We are so proud to share that our firm has once again been named National Law Firm of the Year for Greece at the IFLR Europe Awards 2024!

We extend our sincere thanks to our valued clients for their precious support and recognition.

Congratulations to all our partners, associates and staff for their hard work and commitment for this achievement. This award reflects years of dedication to delivering high quality legal service to our clients and highlights our market-leading presence in Greece.

Our Managing Partner, Catherine Karatzas, joined Babis Papadimitriou on Talk Radio 98.9 to discuss the Athens Law School team’s win in the 17th International Roman Law Moot Court Competition and the importance of law firms supporting such initiatives.

Catherine commented that “At Karatzas & Partners, we believe in offering students opportunities outside of traditional academic settings to develop the skills that are necessary to become an effective and trusted advisor to clients. Our firm has been supporting the Athens Law School moot court teams for more than a decade and will continue to do so in the future. By supporting these endeavors, we are not just offering financial support. We are investing in Greek legal talent and ensuring Greek law students have the same enriching experiences and opportunities as they would abroad.”

Listen to their discussion here: https://soundcloud.com/user-665020045/22-04-24a-1

Our partner and Head of the Employment Department, Angeliki Tsatsi, will be offering her insights and expertise, while exploring the groundbreaking law on whistleblower protection (Law 4990/2022), in the upcoming cycle of the educational program Whistleblowing 360ᵒ, hosted by Nomiki Bibliothiki.

Join us on April 22nd & 23rd at Nomiki Bibliothiki’s headquarters for this enlightening event. Live streaming option is also available.

Secure your spot and find more information: https://www.nb.org/whistleblowing-360-ekp-programma-2024-2o.html

We are thrilled for the Athens Law School team achieving first place in the 17th International Roman Law Moot Court Competition and student Maria Margariti, receiving the 2nd prize for best oration. The competition took place in Vienna from April 3rd to April 6th, 2024 with the participation of all the major European law schools. Representing the Athens Law School were students Danae Argyropoulou, Rodanthi Karavasili, Maria Fefe and Maria Margariti, under the academic supervision of Professor Athena Dimopoulou.

We are proud to have supported their efforts and commit to continue assisting initiatives which build our country’s future legal professionals!

Congratulations to Professor Athena Dimopoulou and the entire team for their hard work and outstanding performance!

Our partner Anna Manda, Head of our TMT and Competition Law teams, stated “Having an ability to foresee future needs of an evolving business, we, as legal advisors are able to provide our clients with all necessary tools ensuring adaptability of the business in time”, while speaking in the panel discussion “The M&A Mosaic: Building an ecosystem for collaborative and impactful deals”, at the Delphi Economic Forum IX.

We are pleased to share that our partner, Nikos Askotiris, will be participating in the 1st Listed Companies Conference, organized by Nomiki Bibliothiki on Friday, April 19th.

Nikos will engage in a fireside chat regarding the stimulating topic of new technologies as a driver for capital market growth and the example of Blockchain.

For more information and registration: https://www.nb.org/1o-synedrio-eisigmenes-etairies.html

We’re thrilled to announce the launch of K&P Knowledge Portal!

Committed to keeping you informed and equipped with the latest legal insights and resources, so that you stay ahead in the ever-evolving legal landscape, we’ve created Knowledge Portal, your go-to destination for:

Insights from legal experts
Analysis on legislative developments
Meticulously crafted and original articles delivering essential legal updates

We therefore invite you to visit our website and sign up today!
Gain access to K&P Knowledge Portal’s full content: https://knowledgeportal.karatza-partners.gr/

Our firm will be present again this year in the Delphi Economic Forum IX. The highly anticipated annual meeting will take place from Wednesday, April 10th to Saturday, April 13th, 2024 and is expected once again to bring together industry leaders and decision-makers in alive and creative exchange of insights.

Our partner Anna Manda, Head of our TMT and Competition Law teams, will participate in an expert panel discussion and will share her insights and experience on the topic of “The M&A Mosaic: Building an ecosystem for collaborative and impactful deals”. The discussion will take place on Friday, April 12th in the Konstantinos Karamanlis Hall, situated at the European Cultural Centre of Delphi.

For more information & the agenda: https://def-ix.delphiforum.gr/agenda

We are happy to announce the successful completion of the voluntary cash tender offer by National Bank of Greece (the Bank or NBG) of its €400,000,000 Subordinated Fixed Rate Resettable Tier 2 Notes due 2029 (the Notes) and the successful completion of the new issuance of €500 million Subordinated Tier 2 Notes due 2035 (the New Notes) on which the tender offer was conditional.

NBG accepted all validly tendered Notes, which will be cancelled, and the issuance of the New Notes was successfully placed with the international markets with a yield of 5.875%.

Our firm acted as external legal advisor to NBG on all Greek law aspects of the Tender Offer and the issuance of the New Notes.

Our team consisted of our Partner Alexandra Kondyli, our Senior Associate Maria Chronaki and our Associate Dimitris Passas; Greek tax law issues were handled by our tax team, Partner Georgios Minoudis and Associate Katerina Stathakarou.

Congratulations once again to our client and sincere thanks for the excellent cooperation and trust all these years.

For more information: https://www.nbg.gr/en/group/press-office/articles/R-27-03-24-exagora-omologiwn?_gl=1*ip1v6n*_ga*MjEwMjM1Njc4NC4xNzExOTYxODA2*_up*MQ and
https://www.nbg.gr/en/group/press-office/articles/r-20-03-24-t2-500m-en?_gl=1*18f204*_ga*MjEwMjM1Njc4NC4xNzExOTYxODA2*_up*MQ

We are delighted to announce our participation in the 4th Energy Law Conference, by Nomiki Bibliothiki on Wednesday, April 3rd.

Our Partner & Head of Energy, Valia Apostolopoulou, will be contributing to a panel discussion centered around the critical topic of greenhouse gas emissions and sanctions, offering valuable perspectives on navigating the complex landscape of energy law and environmental regulations.

For more information & registration: https://www.nb.org/4o-synedrio-to-dikaio-tis-energeias.html 

We’re proud to announce that our firm has been awarded as Best Workplace for Women 2024 by Great Place to Work Hellas!

This award underlines our efforts through the years to create an inclusive workplace culture where all individuals can thrive and succeed, regardless of their gender or other characteristics in all levels of the workforce – from entry level, right the way up to the senior leadership team.
We pledge to our people and our community to continue to foster an environment and culture of open communication, empowerment and equal opportunities.

Interested in joining our incredible team? Explore our latest job openings and join us in our mission to champion diversity and inclusion in every aspect of our work: https://karatza-partners.gr/careers/

We’re proud to announce that once again our firm has been ranked as Top Tier firm in 5 practice areas and received recommendations in additional 5 practice areas in The Legal 500 EMEA 2024 edition!

Our firm has attained Tier 1 status in the following key practices:

➡ Banking, Finance & Capital Markets
➡ Commercial, Corporate and M&A
➡ Energy
➡ Real Estate & Construction
➡ TMT

Additionally, we have received top rankings in EU & Competition, Projects & Privatisation, Restructuring & Insolvency, Dispute Resolution and notably, for the first time, our Employment practice stands out prominently!

Congratulations to our Partners Catherine Karatzas, Christina Faitakis, Anna Manda, Alexandra Kondyli, Nikos Fragos, VALIA APOSTOLOPOULOU, Vassiliki Salaka, Georgios Minoudis, Angeliki Tsatsi and Nikos Askotiris, as well as to our Senior Counsel, Dr. Dionysis P. Flambouras, Sophia Mavridou, Katerina Dalamara, Eleana Rouga and Alexandros Anagnostopoulos who are ranked among the top lawyers once again and we are proud for the recognition of our Senior Associates, Athena Economou, Argyro Vagia, Maria Chronaki, Vassilis Goulielmos, Marina Chronaki, Olga Vinieri, Maria Kallidopoulou and Associates, Anastasia Petta and Anna Pechlivanidi.

We express our deep gratitude to our valued clients and peers. Their steadfast support and recognition over the years has played a pivotal role in sustaining our ongoing success and expand our rankings.

For further details on our firm’s rankings: https://www.legal500.com/firms/11850-karatzas-partners/12925-athens-greece/?layout=emea&token=9c0f3b4d5132703e70f7778c74fee798 

A few days ago, we had the pleasure of welcoming to our firm a group of bright young law students from ELSA Athens as part of the initiative “Lawyers at Work”.

Our visitors had the opportunity to gain a firsthand glimpse into the inner workings of our firm and to explore our diverse practice areas and daily operations. They met with a team of associates and trainee lawyers who shared with them invaluable insights of the day-to-day functions and life in our firm.

Our HR Manager, Aimilia Antonopoulou, presented to them our firm’s company culture, along with the special benefits and incentives we offer to our people, while our personnel partners, Vassiliki Salaka and Nikos Fragos, addressed their queries and discussed experiences and visions of the future in the legal profession.

Our ongoing collaboration with ELSA Athens underscores our commitment to nurturing the next generation of legal talent and fostering learning and growth within the legal community.

Here’s to empowering future legal stars!

We proudly announce that K&P has once again been recognized as a Leading Firm in the Chambers and Partners Europe Guide 2024!

We’re honored to have achieved this recognition for:

➡️ Banking & Finance
➡️ Corporate/Commercial
➡️ Competition/European Law
➡️ Energy
➡️ Real Estate
➡️ TMT
➡️ Employment

Congratulations to our Managing Partner, Catherine Karatzas, named for the fourth consecutive year as “Eminent Practitioner”, our Partners Christina Faitakis, Vassiliki Salaka, Anna Manda, Valia Apostolopoulou, Alexandra Kondyli, Nikos Fragos and Senior Counsel Dionysis Flambouras, ranked in Banking & Finance, Corporate/Commercial, Capital Markets, Real Estate, Competition/ European law, Energy and TMT. We also proudly announce, the entry of our Partner Angeliki Tsatsi, Head of our Employment team, in the Employment practice rankings.

A heartfelt thank you to our clients and peers for their continued support and acknowledgment of the outstanding work of our lawyers.

This achievement is a testament to the dedication and forward-thinking of our hardworking people who are the driving force behind our success. Congratulations to all!

Our firm advised the International Managers (Bank of America Securities Europe SA, acting as Lead Global Coordinator, Goldman Sachs Bank Europe SE and UBS Europe SE, acting as Joint Global Coordinators; Barclays Bank Ireland PLC, BNP Paribas, HSBC Continental Europe, J.P. Morgan SE, and Morgan Stanley Europe SE, acting as Joint Bookrunners, AXIA Ventures Group Ltd and Euroxx Securities SA, acting as Co-Lead Managers) and the Greek Underwriters (Euroxx Securities SA, acting as Greek Public Offering Advisor, Greek Public Offering Coordinator and Lead Underwriter, and Piraeus Bank S.A., acting as Greek Public Offering Coordinator and Lead Underwriter) in the disposal of the 27% stake in Piraeus Financial Holdings S.A. by the Hellenic Financial Stability Fund, valued at approximately €1.35 billion; an unprecedented, landmark transaction in Europe.

The transaction was significantly oversubscribed (approximately 9x and 4x for the International and Greek books, respectively) and was completed through (i) a concurrent FMO and a public offering to retail and institutional investors in Greece and (ii) a private placement to professional investors outside Greece.

Our core team comprised Partners Catherine Karatzas and Alexandra Kondyli, Senior Counsel Eleana Rouga, Senior Associate Maria Chronaki and Associates Iliana Ioannou and Dimitris Passas.

Sincere thanks to all syndicate teams for their trust and to all business and legal teams for the excellent cooperation.

In honor of the International Women’s Day, we reaffirm our commitment to equality and inclusivity and for the third consecutive year, we stand with Diotima Centre, a non-profit organization which provides a series of services aimed at supporting and empowering women. Our donation supports their critical program of legal aid to low-income women survivors of gender-based violence.

K&P fosters for a diverse and discrimination-free environment. Let’s strive for a gender balance in the work environment and a world of equal opportunities and treatment.

To find out more about Diotima Centre: https://diotima.org.gr/en/

We are proud to announce another transaction, underscoring our dedication to supporting the green transition and fostering sustainable growth within our economy.

Our firm advised Eurobank and Piraeus Bank in the financing of the development of one of the largest PV-solar projects in Greece (with a total capacity of 550 MW) through the issue of a co-financed loan by Phoebe Energy Single-Member S.A., a 100% subsidiary of PPC Renewables – ΔΕΗ Ανανεώσιμες. This financing includes funds sourced from the “Greece 2.0” National Recovery and Resilience Plan (RRF), seamlessly blended with Eurobank’s and Piraeus’s resources to further support the private investment in the RES sector.

Our team was led by our Partner & Head of Energy Dpt. VALIA APOSTOLOPOULOU, assisted by Associate Anastasia Petta, Associate Konstantina Meletiadou, Associate Sophia Papasimakopoulou, Associate Eleni Ioannidou, Associate Mara Skiada, Senior Associate AIKATERINI TOUMPANOU, Associate Nikos Kazantzidis and Trainee Lawyer, Tina Sofianou.

We are glad to announce that our firm has acted as counsel to Cadence Design Systems, on all Greek law matters relating to the signing of a definitive agreement for the acquisition of BETA CAE Systems International AG, a leading system analysis platform provider of multi-domain, engineering simulation solutions operating its primary R&D center in Thessaloniki, Greece for a purchase price of approximately US$1.24 billion. 60 percent of the consideration will be paid in cash and 40 percent will be paid through the issuance of Cadence common stock to current BETA CAE shareholders.

Initially established in Thessaloniki, Greece, BETA CAE, incorporated in Switzerland, has expanded worldwide with 13 offices and has become a highly respected industry leader, well-known for its groundbreaking, innovative, high-performance simulation software and best-in-class services.

This is one of the most significant transactions in the country’s technology sector and one of the largest M&A transactions in Greece in recent years.

Our team was led by Partner, Catherine Karatzas with Senior Associate Vassilis Goulielmos, assisted by Associates Katerina Stathakarou and Apostolos Latsonas. Our team was further assisted on employment matters by Partner, Angeliki Tsatsi, Senior Associate AIKATERINI TOUMPANOU and Associates, Sotiris Goulas and Anna Pechlivanidi, on Real Estate matters by Senior Associate, Argyro Vagia and Associate Mara Skiada, on Intellectual Property and Data Protection matters by Associate, Dimitra Karampela, Associate Panagiotis Kontizas and Trainee Lawyer, Thanasis Christou and on Tax matters by Partner, Georgios Minoudis.

For more information: https://www.cadence.com/en_US/home/company/newsroom/press-releases/pr/2024/cadence-to-acquire-beta-cae-expanding-into-structural-analysis.html

As a recognition of our firm’s dedication to sustainability, green culture and energy transition over the years we have now been included as a recommended firm in the distinguished The Legal 500’s Green Guide for 2024!

The Legal 500’s Green Guide, as an acknowledgment of a firm’s contribution to ‘Green Change’ and ESG, identifies top law firms around the world adopting best practices towards a green future and advising on issues around climate change, governance, and sustainability.

We would like to extend our heartfelt appreciation to our people whose dedication and innovative spirit have been instrumental in this accomplishment.

For more information: https://www.legal500.com/editions/green-guide-emea-2024/featured-firms/?_gl=1*ctns18*_up*MQ..*_ga*MTQ3Nzc4NjMwNy4xNzA5MjEzMTc5*_ga_JFNJC5V947*MTcwOTIxMzE3OS4xLjAuMTcwOTIxMzE3OS4wLjAuMA..

We advised Piraeus Bank and Alpha Bank, in their capacity as Joint Coordinators and Bookrunners for the successful offering of a €130 million bond loan issued by Intralot S.A. and listed on the Athens Exchange Group.

The offering was oversubscribed by 1.55 times at appx. €202 million with a total participation of 5,467 investors, and priced at 6%, at the lowest end of the interest range.

Capital markets issues were handled by partner Alexandra Kondyli and senior counsel Eleana Rouga while partner Christina Faitakis assisted by associate Iliana Ioannou advised on the finance aspects of the issuance.

Congratulations to all the teams for the successful transaction!

We are delighted to announce our firm’s involvement in a landmark transaction contributing to Greece’s energy transition and progressing our green future!

We advised Eurobank, Alpha Bank and National Bank of Greece in the financing of a 940MWp portfolio of solar farms in Amyntaio, Western Macedonia developed by PPC Renewables – ΔΕΗ Ανανεώσιμες and RWE Renewables through their joint venture company Meton S.A. The projects were eligible to use funds form the Recovery and Resilience Fund (RRF) – “Greece 2.0” National Recovery and Resilience Plan.

Our team was led by our Partner Christina Faitakis and Partner & Head of Energy Dpt. VALIA APOSTOLOPOULOU, our Senior Counsel Katerina Dalamara and assisted by our Associates Angeliki Saringala, Konstantina Meletiadou, Eleni Ioannidou, Maria Vamvaka and Trainee Lawyers Thanasis Christou, Aspasia Stellakatou Loverdou, Magdalini Komi and Dimitris Sfyris, while real estate issues were handled by Senior Associate, Argyro Vagia and Associates Mara Skiada, Christina Zevla and Nikos Kazantzidis and corporate issues by Associate Maria-Christina Raptopoulou.

For more information: https://www.rwe.com/en/press/rwe-renewables-europe-australia/2024-02-08-rwe-and-ppc-to-accelerate-greek-energy-transition/

Our people participated in the “Lawyers Run for Children 2024” race, organized for the first time by The Association of Law Firms of Greece (SDEE / Σ.Δ.Ε.Ε. (ΣΥΝΔΕΣΜΟΣ ΔΙΚΗΓΟΡΙΚΩΝ ΕΤΑΙΡΕΙΩΝ ΕΛΛΑΔΟΣ). The event was held at the Athens Olympic Sports Center (OAKA) on Sunday, February 25th and aimed to raise awareness and support the non-profit Associations “Together For Children NGO (Mazi gia to Paidi)” and “Floga – Parents’ Association of Children with Cancer”.

Congratulations to everyone involved in making this event a success and looking forward to the 2025 race!

We have advised National Bank of Greece on the closing of Project Frontier II, a multi-asset securitization of NPEs with a gross book value of c. €1 billion. 95% of the Mezzanine and Junior notes were sold to investment funds managed by Bracebridge Capital, LLC. National Bank of Greece retained 100% of the Senior notes, utilizing the provisions of the Hellenic Asset Protection Scheme (”Hercules”) and 5% of the Mezzanine and Junior notes.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Katerina Dalamara, our Associates Stavroula Simitzi and Pinelopi Anyfanti and our trainee Aspasia Stellakatou Loverdou.

We are honored to have worked for our client on this complex and value adding transaction.

For more information: https://www.nbg.gr/el/omilos/grafeio-tupou/arthra/R-20-02-24-FrontierII 

We are glad to announce that our firm advised Saudi Electricity Company (SEC), Saudi Arabia’s leading generator and electricity provider, in relation to the formation, through its subsidiary, National Grid S.A., of a strategic partnership with the IPTO-Independent Power Transmission Operator (IPTO). Our firm also advised and assisted with the incorporation of the special purpose company ‘Saudi Greek Interconnection S.A.’ between the two parties with the view to conducting the viability study for the implementation of the Greece – Saudi Arabia electricity interconnection.

The partnership between National Grid and IPTO reflects the strategic cooperation between Greece and Saudi Arabia in the energy sector, which was agreed at the highest level between the two countries in the summer of 2022 and was culminated in the adoption of a shareholders’ agreement in September 2023.

The partnership of the two power transmission operators through ‘Saudi Greek Interconnection’ marks a significant step towards the energy transition in Middle East and Europe.

Our team was led by our Partner and Head of Energy Dpt. Valia Apostolopoulou, our Senior Counsel Sophia Mavridou and assisted by our Associate Katerina Stathakarou and our Trainee Lawyer Michalis Chatzakis.

We are excited to announce that Karatzas & Partners has been nominated for the National Firm of the Year award, and 4 Deal of the Year Awards at the IFLR Europe Awards 2024!

In addition, we are the only Greek law firm shortlisted for the Net Zero Transition Firm award for our commitment to sustainability and the environment.

These nominations are a recognition of our firm’s commitment to excellence and innovation in the legal industry. It is a privilege to be considered among the best in these categories, and we are excited to continue delivering exceptional service to our clients.

To our valued clients, we extend our heartfelt gratitude for your ongoing support and collaboration, which has been an integral part of our firm’s recognition as a finalist in the esteemed IFLR Europe Awards 2024.
A huge congratulations and thank you to our people for their hard work and dedication!

We’re thrilled to announce that Karatzas & Partners has once again been shortlisted as Greece Law Firm of the Year at the Chambers Europe Awards 2024.

In addition, we are the only Greek law firm shortlisted for the Diversity and Inclusion Firm of the Year Award!

These important recognitions reaffirm our steadfast dedication to delivering unparalleled legal services to our clients and cultivating a diverse and inclusive workplace environment for our people.

Our firm advised PRODEA Investments in the acquisition of an additional 55% stake in MHV GROUP, a leading hospitality platform in the Mediterranean, for a total consideration of €254 million.

Our team comprised Partner Vassiliki Salaka, Senior Associate Athena Economou and trainee lawyer Michalis Chatzakis for corporate, commercial and real estate law matters, and Partner Anna Manda, Senior Associate Maria Kallidopoulou and Associate Maria-Christina Raptopoulou for competition law matters.

For more information: https://prodea.gr/cms/uploads/2024/01/Prodea-Investments_Press-Release-Announcement-vf.pdf

We are proud to have advised our long-standing client, Autohellas S.A, in connection with the issuance of €200 million bond Loan publicly offered and listed on the Athens Exchange.

The offering received an outstanding positive response with the participation of 8,253 investors, overall offers of c. €455 million, an oversubscription by 2.3 times and priced at 4.25%, at the lowest end of the interest range.

The capital markets law issues were handled by Partner Alexandra Kondyli and Senior Counsel Eleana Rouga and the finance law matters were handled by Partner Christina Faitakis and Associate Iliana Ioannou. The team was also supported by Senior Associate AIKATERINI TOUMPANOU while Associates Dimitra Karampela and Katerina Stathakarou provided the advice on GDPR and tax matters.

Congratulations Autohellas for completing another landmark transaction and thank you for the trust and cooperation.

We are delighted to announce that our firm has been certified as Great Place to Work!

This achievement underscores our commitment to fostering a collaborative, genuine and inclusive workplace where teamwork, innovation, and professional growth, are valued.

We extend our sincere appreciation to our people whose collective efforts have made this possible.

We are thrilled to announce that once again, our competition team, led by our Partner Anna Manda, has earned acknowledgment as a Recommended law firm in the Global Competition Review 100 2024 rankings, a recognition and ranking reserved only for the top few competition law practices in Greece.

We extend our sincere gratitude to our clients for their continuous trust and support. We want to emphasize our dedication to maintaining the exceptional level of service they have come to expect from our practice.

Additionally, we would like to express appreciation for our talented people who have played a crucial role in our success. Their hard work and exceptional efforts throughout 2023 have been instrumental in achieving this recognition.

The GCR 100 is a comprehensive directory that has been consistently offering both quantitative and qualitative analyses of the top-performing law firms and economic consultancies in the field of competition law for over two decades and with the most pageviews. It signifies the preeminent directory for competition law which is widely accessed and frequented with a ranking system that provides an insightful overview of entities actively involved in significant antitrust work globally.

This holiday season our firm embarked on a heartwarming journey, starting with organizing a 4-day Christmas charity bazaar held at our offices building, at The Orbit. Each of the participating charity organizations Amimoni, Margarita Vocational Training Center, Hatzikiriakio Child Care Institution and Make-A-Wish Greece had a full day to propose presents and ornaments dedicated to offer support to their causes. The atmosphere was filled with warmth as our people and our neighbours in the building warmly welcomed and actively supported our initiative. It was a true celebration of community spirit and generosity.

We continued our journey as Santa’s elves: our people went above and beyond, offering more than 130 gifts for the children supported by “Ena Paidi – Enas Kosmos”, bringing Santa’s magic and smiles to their faces for another year.

For the 5th year in a row, we offered Greek traditional Christmas sweets, to our people from “The Workshop – Lilian Voudouri”, an Association of Parents, Guardians and Friends of Disabled People.

Reaching our “final destination” for this year we contributed to the Christmas dinner for 60 protected families of Hatzikiriakio Child Care Institution and made sure that each young woman had her “Christmas Wish” waiting under the institution’s tree on the dawn of the New Year.

We are proud and thankful to our people who went above and beyond into making this holiday season a little brighter for those in need.

A new Ministerial Decision by the Minister of Labor and Social Security provides for the extension of the business sectors that fall into the scope of the Digital Work Card scheme, the modification of requirements for managerial employees and the necessary implementing details regarding the provisions of Law 5053/2023 was published on the Government Gazette recently.

Read here our full article below on the “Continue Reading” button.

As we’re approaching the end of 2023, we would like to express our sincerest gratitude to all our valued clients for their ongoing support and trust, as well as our great appreciation to our people, whose tireless efforts and unwavering commitment to delivering for our clients have led to another successful year for K&P.

Throughout the year, our firm advised on some of the most high-value and transformative transactions, that helped drive innovation and further boosted the Greek economy. In order to view our firm’s highlights for 2023, please click on the “Continue Reading” button below.

Looking ahead, our new year’s resolution for 2024 is to continue our steadfast commitment to excellence and innovation.

Wishing all a happy and prosperous New Year!

Our firm advised Astir Palace Vouliagmenis on the issue of a €350m bond loan for the refinancing of its existing bank debt. Alpha Bank acted as arranger, bondholder agent, facility agent and bondholder.

Astir Palace Vouliagmenis is a hospitality market leader with a long and remarkable history during which it became a world renowned luxury destination resting on a peninsula along the Athens Riviera and currently operates one of the most iconic Four Seasons Hotels and Resorts in the world and Matsuhisa and BeefBar, two of the top restaurants in Attica.

Our core team comprised Senior Counsel Dr. Dionysis P. Flambouras, Associate Georgios Zervakis and Trainee Lawyer Magdalini Komi, while our Partner Nikos Fragos provided expert advice on the transaction structure and our Partner Nikos Askotiris on insurance matters.

As the year draws to a close, we want to spread some festive cheer with our annual Christmas card!

Click on the following link to view our warmest wishes: https://karatza-partners.gr/xmas-our-people/

Wishing you and your loved ones a holiday season filled with love, laughter, and cherished moments. May the coming year bring peace, health, happiness, and prosperity.

Happy Holidays and best wishes for the New Year to all!

Our firm has advised National Bank of Greece, Piraeus Bank and Eurobank, in their capacity as Joint Coordinators and Bookrunners, in connection with the offering of €100 million bonds issued by Ideal Holdings S.A. and listed on the Athens Exchange.

The offering received an outstanding positive response with a total participation of 3,559 investors, was oversubscribed by 1.89 times, and priced at 5.50%, at the lowest end of the interest range.

The transaction signals the dynamics of the Greek capital market, marked by the participation of the European Bank for Reconstruction and Development (EBRD) with an investment of €15 mln.

The finance law issues were handled by Nikos Fragos, Partner and Georgios Zervakis, Associate and the capital markets law issues were handled by Alexandra Kondyli, Partner, Eleana Rouga, Senior Counsel, Iliana Ioannou, Associate and Dimitris Passas, Associate.

We thank all teams for their excellent cooperation.

Our team advised Bain Capital in the sale and transfer to Trastor REIC of the strategic office spaces with total surface of 7,261 sq.m., including storage and parking facilities, in the landmark Athens building Politeia Business Center (109-111, Mesogeion Avenue).

The transaction took place in the form of a share deal for a total consideration of € 20.4 million.

Our team was led by our Partner Nikos Fragos, assisted by associate Anastasia Mourmouti and trainee lawyer Tina Sofianou.

We are pleased to announce that our Senior Associate, Eleonora Ligoutsikou is participating in the 5th Tax Law Conference by NOMIKI BIBLIOTHIKI on Tuesday, December 19th.

In addressing tax issues arising from national and cross-border corporate transformations, Eleonora will discuss how tax legislation can leverage economic growth and development.

For more information & registration here.

We are delighted to announce that our firm has acted as Greek counsel to Hellenic Republic Asset Development Fund (HRADF / ΤΑΙΠΕΔ) and Paneuropean Oil and Industrial Holdings S.A. (POIH) in connection with the sale of 11% in HELLENiQ ENERGY Holdings S.A.

In total, 33.619.870 shares were sold at a price of €7 per share, through an international accelerated book building process. The private placement was oversubscribed more than three times.

This transaction is a milestone for increasing the free float of HELLENiQ Energy, paving the way for a more realistic depiction of its value, and signaling a further vote of confidence in the Greek economy.

Our team was led by our Partner, Nikos Askotiris, assisted by our associates Stavroula Simitzi and Iliana Ioannou.

Reflecting on a meaningful evening dedicated to the International Day of Persons with Disabilities.
The recent film screening of “Zografia tou Theou” (Η ζωγραφιά του Θεού) at DANAOS Cinema, which was sponsored by our firm, not only showcased the challenges faced by individuals with disabilities but also provided a unique opportunity for us to explore and appreciate their resilience and strength.

After the end of the film’s screening, Maria Christina Tzavara, an inspirational individual with disabilities and the film’s protagonist, shared touching reflections on what motivated her participation in the movie. She underscored the driving force behind her involvement and emphasized the need for a society where people with disabilities are not just acknowledged for their unique skills but are also provided opportunities to actively contribute and enhance our community.

Our sincere thanks to all who joined, contributing to a more informed and inclusive society.

We are pleased to announce that our Senior Counsel Sophia Mavridou is participating in a panel discussion at the 3rd Panhellenic Conference about Public Contracts organized by NOMIKI BIBLIOTHIKI on Friday, 15th December.

Sophia will elaborate on the relation between subcontracting and reliance on the capacities of other entities in the light of the recent judgments of the Council of State and the EU Court of Justice.

In honour of the International Day of Persons with Disabilities, which is commemorated on December 3rd, our firm is pleased to invite you to a unique movie night, highlighting the incredible strength and resilience of individuals with disabilities.

The movie “Zografia tou Theou” (“Η ζωγραφιά του Θεού”) is an opportunity for us to come together and reflect on the importance of supporting and promoting inclusivity in our community.

🗓 Date: Thursday, December 7th
🕖 Time: 19:00
📍 Venue: DANAOS Cinema
🎬 Featured Film: “Zografia tou Theou” (“Η ζωγραφιά του Θεού”)
Free entrance, upon availability

The intent behind this initiative is rooted in our firm’s commitment to fostering understanding and empathy for the unique obstacles confronted by persons with disabilities.

We encourage your attendance as we collectively contribute to a more informed and inclusive society.

For more information: https://www.kathimerini.gr/culture/562763461/i-zografia-toy-theoy-me-eleytheri-eisodo-gia-to-koino/

Join us at the 3rd Energy Law Forum hosted by CLEON Conferences & Communications on Tuesday, December 5th!

Our Partner and Head of Energy Dpt., Valia Apostolopoulou, will participate in an interesting discussion focusing on “Current Energy Issues.” Valia, will share insights on the pressing challenges associated with the financing of Corporate Power Purchase Agreements (PPAs).

Don’t miss this opportunity to gain valuable perspectives on navigating the complexities of Corporate PPAs.

For more detailed information and registration, click here: https://cleon.gr/conferences/3rd-energy-law-forum/ 

In honour of the International Day for the Elimination of Violence against Women which is commemorated on the 25th of November, our firm proudly shares a successful book drive initiative that our people brought to life.

Over 400 books were generously donated to the Book Garden, a very special bookstore whose proceeds are channeled to organizations aiding women affected by abuse and violence.

We express our heartfelt appreciation to each member of our team for actively participating and making this initiative a reality.

Together, we strive for a safer, more compassionate world.

If you want to support the Book Garden: https://www.bookgardenathens.com/el

We are pleased to announce that our Partner & Head of Real Estate, Vassiliki Salaka is participating in the 1st Real Estate Conference organised by Capital.gr and Forbes in a panel discussion about “The importance and contribution of Real Estate Investment Companies in the creation of a modern product & the necessary tools for the RE market development. Requested changes in the institutional and tax framework and the digitisation path of properties for their optimal operation”.

For more information & registration: https://www.eventora.com/el/Events/forbes-1st-real-estate-conference

Our firm advised National Bank of Greece in the disposal of a 22% stake in NBG by the Hellenic Financial Stability Fund, valued at approximately €1.1 billion; the largest Greek Equity Capital Market transaction in the last two years and the largest secondary placement in Greece since 2005.

The transaction was significantly oversubscribed (8.9x and 2.9x for the international and Greek books, respectively) and was completed through (i) a concurrent FMO and a public offering to retail and institutional investors in Greece and (ii) a private placement to professional investors outside Greece.

Our core team comprised Partners Catherine Karatzas and Alexandra Kondyli, Senior Associate Maria Chronaki and Associate Dimitris Passas.

Sincere thanks to our client, for their trust and seamless collaboration on a landmark transaction for NBG and the Greek market.

Our firm is sponsoring the 1st INVEST in GREECE Conference organized by Nomiki Bibliothiki on Tuesday, 21st November.

Our Partner and Head of Real Estate, Vassiliki Salaka, is participating as a moderator in a roundtable discussion about the “Characteristics of Investments in Tourism and Real Estate” together with the esteemed professionals Myron Flouris, Secretary General of Tourism Policy and Development, Ministry of Tourism, Ioanna Dretta, President, Marketing Greece, Helen Alexiou, Managing Partner, AKL Law Firm, Alex Pipilis, Head of Hospitality & Business Development, Prodea Investments and Yiannis Sourlas, Senior Legal Director, The Ellinikon.

For more information and registration: https://www.nb.org/1o-invest-greece-conference.html

Our firm has proudly advised Lazard Frères SAS, the disposal advisor of the Hellenic Financial Stability Fund, in connection with the acquisition of the entire stake of HFSF in Alpha Services and Holdings S.A. (Alpha) by UniCredit S.p.A. (UniCredit). A competitive process has been triggered by a binding offer from UniCredit, resulting in Unicredit purchasing HFSF’s stake, representing approx. 8.98% of Alpha’s share capital.

The investment of UniCredit in Alpha forms part of a wider strategic partnership between them, including the merger of subsidiaries of Romania. It is a milestone and clear signal for the return of the Greek banking sector to sustainable growth and a reflection of the regained trust in the Greek economy, which is expected to create new investment opportunities.

Our team was led by our Partner, Nikos Askotiris.

We are very proud to announce that our firm advised our longstanding client Pharmathen, a leading European complex drug delivery and formulation developer, and its shareholder, Partners Group, in connection with the acquisition of CBL Patras S.A., a leading vertically integrated and FDA-approved peptide manufacturer and supplier in Europe. This milestone transaction will allow Pharmathen to strengthen its position in the global peptide therapeutics market.

The acquisition of CBL by Pharmathen marks the conclusion of yet another seminal transaction for our Corporate and M&A practice group this year.

Our team was led by Anna Manda, assisted by our Senior Associate Marina Chronaki and our Associates Aris – Nikolaos Papadopoulos and Matina Xirogianni.

Our team also included:
For corporate, commercial law and other matters: Tina Sofianou, Apostolos Latsonas, Maria-Christina Raptopoulou and Katerina Basta
For employment law: Angeliki Tsatsi
For real estate: Christina Zevla
For litigation: AIKATERINI TOUMPANOU and Konstantinos G. Bairaktaris
For GDPR issues: Dimitra Karampela and Panagiotis Kontizas

More information: https://www.pharmathen.com/sites/default/files/2023-11/Pharmathen-acquires-CBL%20Patras-Press-Release-EN.pdf

We are very excited to announce that our firm advises Currys plc, a company listed in the LSE, in connection with the sale of Dixons South East Europe A.E.V.E., the company responsible for Currys’ retail operations in Greece and Cyprus operating under the name Kotsovolos, to PPC S.A. Kotsovolos is a leading retailer in Greece, offering a diverse mix of products and services with a large nationwide network and strong brand awareness.

This sale will allow Currys plc to strengthen its balance sheet and simplify its operations.

Closing is subject to receipt of merger clearance and shareholder approval.

Our core team was led by Catherine Karatzas, assisted by our Senior Associate Vassilis Goulielmos and our Associates Aris – Nikolaos Papadopoulos and Isidora Vythoulka.

Out team also included:
For corporate, commercial law and other matters: Pinelopi Anyfanti, Vasiliki Maria Papanastasiou, Panagiotis Kontizas and Michalis Chatzakis
For employment law: Angeliki Tsatsi and Katerina Basta
For competition law: Anna Manda, Maria Kallidopoulou and Maria-Christina Raptopoulou,
For real estate: Christina Zevla
For Litigation: AIKATERINI TOUMPANOU
For GDPR issues: Dimitra Karampela

Our firm represented jointly National Bank of Greece, Alpha Bank, Piraeus Bank and Eurobank in entering into a binding agreement with Waterwheel Capital Management on Project Solar, involving the securitization of a portfolio of SMEs and corporate NPLs with a total GBV of ca. €1.2bn, with a single servicing strategy and arrangements, and the parallel sale and transfer to Waterwheel Capital of 95% of the mezzanine notes and 95% of the junior notes issued under the agreed structure. The Solar transaction is expected to close within Q1 2024, subject to customary conditions for similar transactions.

Project Solar is breaking ground in the Greek market as the first multi-seller, single-SPV, HAPS and SRT compliant securitization to be performed, rated and marketed jointly by all four Greek systemic banks.

Our team was led by our Partner Nikos Fragos, assisted by Associates Anastasia Mourmouti, Evi Dimou and Georgios Zervakis and our Trainee Lawyer Tina Sofianou on all transaction matters and Associate Dimitra Karampela on data protection issues.

We are happy to announce our participation in the 6th Compliance Conference, “Focusing on the core to approach the future”, organized by the Association of Compliance Officers in Greece – ASCO Greece and Nomiki Bibliothiki on November 2.

Our partner Nikos Askotiris will participate in a panel discussion on the ESG landscape, and will focus on the practical relevance of most recent legislative initiatives.

Join us as we dive into the challenges of compliance in an evolving business and regulatory environment, and network with industry leaders.

For more information and registration: https://www.nb.org/nb-ekpedeysi/sinedria/6th-compliance-conference.html 

Last Friday, our firm participated in the “Pink at Work” initiative, demonstrating once again our commitment to supporting the great cause of Hellenic Association of Women with Breast Cancer, Alma Zois.

October is breast cancer awareness month. Let’s work towards a world where early detection and education about breast cancer become a priority.

Our firm is for the fifth consecutive year,  the exclusive contributor of the Greek chapter of the Lexology Getting The Deal Through Private Mergers & Acquisitions 2024 guide.

The authors of the chapter Catherine Karatzas, Partner, Anna Manda, Partner and Olga Vinieri, Senior Associate, provide their insights into the legal framework for Private M&A in Greece, including structural considerations, filing and consent requirements, as well as legal and market practice developments and trends in M&A transactions.

Read our contribution by clicking on the Continue Reading button below.

The EU legislation is making steps forward in combatting the misuse of crypto-assets, especially for money laundering purposes.

Our Partner Nikos Askotiris provides a succinct overview of the most relevant developments in the below article (in Greek) from LAWYER | The Business Magazine.

We are very happy to have advised Noval Property REIC in relation to the issuance of €10.5 million pre-IPO mandatorily convertible bond loan to be fully subscribed by European Bank for Reconstruction and Development (EBRD).

Proceeds of the loan will be directed towards Noval’s strategic investment plan focusing on the acquisition and development of sustainable “green” and environmentally certified assets, with sustainable development being also a core part of EBRD’s financing strategies.

The pre-IPO financing structure combined with EBRD’s commitment to participate as a shareholder in Noval Property marks a positive signal to the prospects of Noval’s investment plan and value proposition.

Our team was led by Partner Alexandra Kondyli, assisted by Senior Counsel Eleana Rouga and Associate Iliana Ioannou.

Our client has been also supported for English law matters by Allen & Overy, Milan, led by Partner, Craig Byrne and Senior Associate Sarah Capella, assisted by Associate Edoardo Brugnoli, with the support of Counsel Frederic Demeulenaere.

Congratulations to our client and many thanks for the excellent cooperation and trust all these years.

Law 5053/2023, which entered into force on 26.09.2023, introduces important reforms regarding employment relationships under Greek law, including the transposition of Directive (EU) 2019/1152 on transparent and predictable working conditions, on-demand employment, probation period, parallel employment, work on Saturdays and seniority-linked salary increases.

Read below our full article.

We are pleased to announce that Nikolaos Zachos, Senior Counsel of our Corporate and M&As practice, is participating in the 1st Conference of the Legal Council OF SAE|E on Thursday, October 12th.

Nikolaos will participate as a moderator in the panel: “Liability of business executives against the company and its shareholders”.

For more information & registration: https://sae-epe.gr/1o-synedrio-nomikou-symvouliou-saee/

We are pleased to announce that our Senior Associate, Maria Kallidopoulou, is participating as a speaker in the 7th International Competition Law Conference organized by Nomiki Bibliothiki , on 11-12 October 2023, and will present all the latest developments and key trends on Telecommunications network sharing.

For more information and registration: https://www.nb.org/nb-ekpedeysi/sinedria/7th-international-conference-competition-law-policy.html

We are happy to have advised National Bank of Greece in relation to the very successful issuance of €500 million Subordinated Tier II bonds with a yield of 8% and its placement in the international capital markets. The bonds issued mature in 10,25 years and are callable in 5,25 years.

The issuance is part of the Bank’s strategy to optimize its capital structure and increase its Minimum Required Eligible Liabilities (MREL), in the context of the supervisory requirement which applies to all systemic banks.

The transaction attracted interest in excess of €1,3 billion, with the participation of more than 100 institutional investors. Approximately 75% of the bond was allocated to international institutional investors. Barclays, Citi, Goldman Sachs Bank Europe SE, Morgan Stanley, Nomura and Société Générale acted as joint bookrunners of the issuance.

Our team was led by Partner Alexandra Kondyli and Senior Associate Maria Chronaki.

Congratulations to our client and many thanks for the excellent cooperation and trust all these years.

For more information: https://www.nbg.gr/en/group/press-office/articles/r-26-9-23-nbg-500mn-t2

Οur firm participated in the 15th Greece Race for the Cure 2023, organised by the Hellenic Association of Women with Breast Cancer, Alma Zois, making once again a powerful statement of solidarity in the fight against breast cancer.

Our people joined hands and also extended a warm welcome to some of our valued clients and alumni who kindly accepted our invitation to run alongside us.

Thank you to everyone who participated, supported, and cheered us on. Your energy and enthusiasm are truly inspiring!

On a few days from now, and specifically on 12 October 2023, the filing obligations under the new Foreign Subsidies Regulation (FSR) will start to apply. The impact of the FSR is expected to be significant, in particular for M&A transactions, given that it will result in a substantial burden for businesses.

For an overview of the basic concepts of the FSR, the notification thresholds as well as its implications, read our below.

Exciting Times at K&P!

A few days ago, we had the pleasure of hosting a special “Kids at Work” event at our office, and it was an absolute blast!

Our little visitors had the opportunity to explore our workspace and make new friends by taking part in fun and educational activities, sparking their creativity and curiosity.

And what’s a memorable day without a sweet treat? At the end of the event, we delighted our young guests with ice cream, adding that extra sprinkle of joy to their day!

We believe in fostering a family-friendly work environment, and events like these are just one way we express that commitment. Here’s to building connections, inspiring young minds, and creating unforgettable memories!

We are delighted to announce that Dionysis Flambouras has joined our firm’s banking and finance group as a Senior Counsel!

Dionysis has extensive experience in the finance and debt markets, having advised numerous national and international investors and financial institutions on a wide range of complex and innovative transactions.

We would like to extend a very warm welcome to Dionysis and look forward to his invaluable contribution to our team and clients.

We are very proud to once again be ranked as Top Tier in the IFLR1000 2023 Europe Rankings and for the areas of Banking & Finance, Capital Markets: Debt & Equity, Mergers & Acquisitions, and Project Development.

We are thankful to our clients and our peers who recognize the excellence of our lawyers and endorse our leading position.

Congratulations to our hardworking teams, their forefront thinking and on-going commitment is the key to our success.

Celebrating Energy Excellence!

We are thrilled to announce that our Partners, Christina Faitakis and Valia Apostolopoulou, have been recognized by Business Today as two of the Top 10 Most Influential Energy Lawyers actively shaping the energy legal landscape in Greece!

Their remarkable dedication, paired with their legal acumen, has not only earned them this prestigious honor but has also accelerated our company’s mission to drive a sustainable energy future.

This acknowledgment underscores their exceptional legal expertise, their profound understanding of the regulatory landscape along with the complexities of the energy sector project financing, driving progress across a broad spectrum of energy sources and industries.

Congratulations to all other recognized peers!

We are delighted to announce our official participation in this year’s Chambers & Partners Global Practice Guide on Merger Control for 2023.

Within the guide’s Greek chapter on Mergers Control Law and Practice, our partner, Anna Manda, along with Senior Associate Maria Kallidopoulou and Associate Maria-Christina Raptopoulou, have made significant contributions.

This stimulating guide provides expert insights on the basic legal framework for mergers in Greece, the jurisdictional thresholds and the notification procedure, gun-jumping, review powers of the Hellenic Competition Commission, remedies, and FDI/ foreign subsidies control.

Read our chapter by clicking on the Continue Reading button below.

Navigating Corporate Governance: We are pleased to share that our firm is once again the exclusive contributor to the Chambers and Partners Corporate Governance Global Practice Guide for 2023.

Our partner Alexandra Kondyli, along with our Senior Counsel Eleana Rouga and Senior Associate Maria Chronaki, have made significant contributions to the Greek chapter of this comprehensive guide.

Within its pages, you’ll find a wealth of insights into the intricacies of the Greek corporate governance framework and the specific disclosure requirements that hold relevance for listed companies in Greece.

Read our chapter below.

We are delighted to share that during the past month our firm had the pleasure of hosting a team of 5 law students, from Greek and international law schools, who attended an enriching internship program.

During this period, our interns were fully integrated into the daily operations of our firm and had the invaluable opportunity to gain insights into the inner workings of various departments including IT, Marketing, and HR, enhancing their understanding of our organization.

They worked side by side with our lawyers and trainee lawyers, gaining hands-on experience across various legal practice areas and also had the opportunity to participate in an original K&P moot court competition, which was held in our offices. The fictitious case, based on the current cinematic landscape, focused on the divorce between Ken and Barbie and the complaints she faces from their neighbor Oppenheimer for causing noise nuisance by playing music boisterously.

Their unwavering enthusiasm, dedication, and remarkable teamwork left a lasting impression on our firm’s culture, and we are confident that they have a promising future ahead as outstanding legal professionals.

Stella-Eleni Christoforidou, Anna Kordellidou, Charis Mitrelia, Rafaela Tsotra and Athina Vyrgioti we want to express our deepest appreciation for choosing our law firm for your internship journey. We are excited to remain connected and witness your continued growth and success!

For aspiring legal professionals, we encourage you to keep an eye out for future internship opportunities at K&P!

We are honored to have advised HELLENiQ ENERGY in a groundbreaking transaction for the financing of Renewable Energy investments: HELLENiQ ENERGY, through its 100% subsidiary HELLENiQ Renewables, National Bank of Greece S.A., and Eurobank S.A. have forged a pioneering financing framework agreement of up to €766 million one of the largest long-term financing agreements for RES in Europe. The financing will contribute significantly to HELLENiQ ENERGY’s growth in green energy and support the national effort to meet climate targets.

At K&P, we are wholeheartedly committed to partnering with our clients in shaping a cleaner, greener future for generations to come!

Congratulation to all teams involved HELLENiQ ENERGY, National Bank of Greece S.A., Eurobank S.A., Koutalidis Law Firm.

For more information: https://www.helleniqenergy.gr/en/media/press-releases/pioneering-financing-framework-agreement-eu766-million-between-helleniq-energy

The European Commission has recently adopted a new Adequacy Decision on the EU-US Data Privacy Framework (DPF) in relation to data transfers to the US. The adoption of this Adequacy Decision follows years of negotiations between the EU and the US, after the invalidation of the Privacy Shield. For the new provisions of the EU-US DPF and its implementation, read our article by clicking on the Continue Reading button below:

We are delighted to announce that Nikos Askotiris has been named our newest partner.

In the past 4 years with the firm, Nikos’ talent, expertise, tireless work ethic, and commitment to excellence have made him an invaluable member of our team, trusted by clients and colleagues alike.

We would like to congratulate him on this well-deserved promotion and look forward to continuing to work together in this new role.

The new Foreign Subsidies Regulation (FSR) started its application on 12 July 2023. The FSR allows the European Commission to investigate financial contributions granted by non-EU countries to companies operating in the EU and establishes a new set of notification obligations to these companies when these are involved in concentrations or public tenders.

In light of these developments, our firm contributed with an article on the Lawyer legal magazine, authored by Partner, Anna Manda, and Associates Maria Kallidopoulou and Maria-Christina Raptopoulou.

The article provides an overview and practical considerations on key issues regarding inter alia the powers of the European Commission, the obligations of the companies to notify concentrations or their involvement in public procurement procedures, and the notification thresholds.

You can read the article (content in Greek) below.

Our firm has advised Eurobank, National Bank of Greece, Alpha Bank and Piraeus Bank, in their capacity as Joint Coordinators and Bookrunners, in connection with the offering of €500 million bonds issued by MYTILINEOS S.A. and listed on the Athens Exchange.

The offering received an outstanding positive response especially by retail investors with the overall offers reaching circa €1 billion, an oversubscription by 2.01 times, and priced at 4%, at the lowest end of the interest range.

The transaction signals the dynamics of the Greek capital market, marked by the remarkably swift process of the Prospectus review by the Hellenic Capital Markets Commission.

We thank all teams for their excellent cooperation and confidence shown to our firm.

The corporate and capital markets law issues were handled by Alexandra Kondyli, Partner, Eleana Rouga, Senior Associate, Iliana Ioannou, Associate and Dimitris Passas, Associate.

The finance law issues were handled by Nikos Fragos, Partner, Anastasia Mourmouti, Associate and Sergios Charalambous, Associate.

The energy law issues were handled by Valia Apostolopoulou, Partner, Anastasia Petta, Associate and Sophia Papasimakopoulou, Associate.

The tax law issues were handled by Georgios Minoudis, Partner, Eleonora Ligoutsikou, Senior Associate and Katerina Stathakarou, Trainee Lawyer.

The real estate law issues were handled by Athena Economou, Senior Associate and Alexandros Anagnostopoulos, Senior Associate.

Last week, we had the honor and the pleasure to host the first K&P Alumni event, at the amazing rooftop garden of our offices, at The Orbit.

Οur esteemed Alumni network came together to celebrate and reconnect, sharing memories and making new friends.

We would like to thank all who attended and promise to keep you connected with more exciting alumni initiatives on the horizon!

If you are one of K&P’s Alumni and haven’t registered yet in the K&P Alumni network, you can join here: https://alumni.karatza-partners.gr/ 

We are happy to announce that our firm is the exclusive contributor to the Chambers & Partners Global Practice Guide on Cartels for 2023.

Our partner Anna Manda, and associates Maria Kallidopoulou and Maria-Christina Raptopoulou contributed to the Greek chapter of Cartels Law and Practice

This stimulating guide provides expert insights in Q&A format on the basic legal framework for cartels in Greece, cartel enforcement, leniency programs, commitments, dawn raids, liabilities, sanctions, remedies, and civil litigation.

Read our chapter below.

In the general context of flexicurity in employment, the Supreme Court of Greece ruled in favor of the validity of an outsourcing contract, contributing key assumptions regarding the outsourcing practice.

Our firm contributed to issue no.156/2023 of “Sinigoros” Magazine by NOMIKI BIBLIOTHIKI , where our Partner and Head of Employment dpt. Angeliki Tsatsi and Associate Anna Pechlivanidi share their thoughts and comments on judgement no. 2041/2022 of the Supreme Court of Greece.

Read below our contribution in Greek.

We are thrilled to share that our firm is continuing its successful initiative of Remote Working Fridays during summer for the second year in a row!

After the incredible response and positive feedback we received last year, we are delighted to offer our people this valuable opportunity again. As we prioritize work-life balance and flexibility, this initiative allows us to make the most of our summer while maintaining our productivity and dedication throughout the week.

Let’s embark on another incredible summer!

Our firm is the exclusive contributor of the Greek Chapter of Lexology getting the Deal Through Public M&A 2023 Guide.

The chapter authored by Catherine Karatzas Managing Partner, Alexandra Kondyli Partner, Eleana Rouga Senior Associate and Iliana Ioannou, Associate, shapes the key structural, corporate and procedural aspects of public M&As in Greece.

Read our contribution below.

Our firm sponsored the 15th National Conference of Corporate In-house Counsel by NOMIKI BIBLIOTHIKI in collaboration with the Association of Corporate Counsel Europe (ACCE) and under the auspices of the Athens Bar Association. Our partners Anna Manda and Vassiliki Salaka together with Antigoni Papanikolaou, Legal & Corporate Affairs Director, Greece, Cyprus & Malta, Microsoft and Christos Paraskevopoulos, Senior Legal Manager, M&As and Strategic Projects, Sunlight Group Energy Storage Systems, delved into the groundbreaking advancements of AI in the legal sector.

During our session, our speakers explored the tremendous potential that AI offers today, transforming the way legal professionals operate. From contract analysis to legal research, AI has revolutionized efficiency and accuracy in the legal landscape. They also highlighted the visible limits of AI, acknowledging that while it can handle routine tasks and data-driven analysis remarkably well, complex decision-making and nuanced legal judgment still require human expertise. Additionally, they discussed the impact of Generative AI on key categories of legal actions, emphasizing how this cutting-edge technology has enabled us to draft high-quality legal documents, automate document assembly, and generate personalized legal advice, thus empowering law firms’ clients with unprecedented speed and precision.

Congratulations to NOMIKI BIBLIOTHIKI for organizing such an interesting conference at the Zappeion Megaron and for curating a thought-provoking agenda that explored the possibilities and limitations of AI in legal services.

On the occasion of World Blood Donor Day, celebrated on the 14th of June, our law firm hosted a successful blood donation event, collaborating with Free Now and Diageo, our neighbors at the Orbit, to support this important cause.

Our goal was to raise awareness about blood donation and encourage our people to make a life-saving impact. The response was overwhelming, with numerous volunteers from all three organizations stepping forward to donate. We extend our heartfelt gratitude to everyone involved, including the donors and medical professionals for their dedication.

This event exemplifies our commitment to social responsibility and inspires us to continue making a positive difference together.

Let’s unite in acts of kindness and create a better world!

View our video here.

What artificial intelligence can do today in relation to legal services, what are its visible limits and how key categories of legal actions are affected in the age of Generative AI?

Our Partners Anna Manda and Vassiliki Salaka are participating in the 15th National Conference of Corporate In house Counsel by NOMIKI BIBLIOTHIKI , in a workshop about “Legal departments in the face of a Brave New World. Artificial Intelligence: Threat to the Legal Profession’s Survival or Means of Prosperity?” on Tuesday June 13th, together with Antigoni Papanikolaou, Legal & Corporate Affairs Director, Greece, Cyprus & Malta, Microsoft and Christos Paraskevopoulos, Senior Legal Manager, M&As and Strategic Projects, Sunlight Group Energy Storage Systems.

For more information & registration: https://www.nb.org/15-panellinio-synedrio-dikigoron-nomikon-iperisiwn.html

A few days ago, we had the pleasure of welcoming Charalambos Vergadis, Anastasia Drosou, Akrivi Chrysi Oikonomou and Despina Polizoi from Athens Law School, who participated in the 16th International Roman Law Moot Court Competition, hosted by Università degli Studi di Napoli Federico II, under the supervision of Professor Athina Dimopoulou.
The team won the first award (Palma Victoriae) and Ms Anastasia Drosou won the 3rd prize for best orator.

Our firm once again proudly supported the Athens Law School as we believe in the importance of nurturing young legal minds.
Congratulations to the team for their excellent performance and for their dedication and hard work that set an inspiring benchmark for the future!

Our Partner, Nikos Fragos, is participating as a moderator in the NPL Greece conference by SmithNovak on June, 8th in the roundtable discussion: “The Secondary Market”, with the distinguished professionals Yiannis Sakarelis, Business Development Manager Greece/Cyprus, Debitos, Stamatis Foteinogiannopoulos, MBA, Operations Manager, Sioufas & Associates Law Firm, Paul Tzelepis, Head of Business Development, Copernicus Hellas, Panagiotis Gkioumes, Partner, Financial Services, Grant Thornton and Nikos Voudouris, Senior Partner, SME Remedium Capital.

For more information and registration: https://www.smithnovak.com/conferences/npl-greece-2023.html#register

Our firm is the exclusive contributor of the Greek chapter of Lexology – Getting the Deal Through, Fintech 2023 Guide.

Our core fintech team, including our Partner Aleka Kondyli, our Senior Counsel Nikos Askotiris, our Senior Associates Eleana Rouga and Maria Chronaki, and our Associate Dimitris Passas provide an overview on the Greek fintech landscape, with a particular focus on financial regulation and innovation in the areas of crypto-assets, artificial intelligence and cloud computing.

Our Associates Dimitra Karampela, Anna Pechlivanidi and Sergios Charalambous have also contributed to this chapter in relation to IP protection, employment law and investment funds law respectively.

Read below our firm’s contribution to the “Business Law Insights 2023” special edition, published yesterday in the newspaper Kathimerini, in cooperation with NOMIKI BIBLIOTHIKI .

More specifically:
✒ Real Estate Law: our article entitled “Property Management Companies: Challenges and Operating Framework”, written by our Senior Counsel Sophia Mavridou.

✒ Competition Law: our article entitled “Hellenic Competition Commission: Fines, powers and control tools”, written by our Partner Anna Manda, our Senior Associate Marina Chronaki and our Associate Maria-Christina Raptopoulou.

✒ Employment Law: our article entitled “Digital era obligations of the employer: the new violence and harassment regulation and the right to disconnect”, written by our Partner and Head of our Employment department Angeliki Tsatsi.

? all articles are in Greek.

Supporting Mental Health: Our Commitment to Well-being

May is Mental Health Month, and we stand united in advocating for mental well-being. At K&P we recognize the importance of Mental Health, and we take action to support and promote it throughout the year! As a result, not only have we established a staff welfare committee, but we also offer to our people and their families access to a Hotline for Psychological Support and Counseling.

Let’s join hands to raise awareness, reduce stigma, and prioritize mental well-being throughout the year.

What should employers do to comply with Law 4990/2022 on the protection of persons who report breaches of EU law? How will the new provisions affect employment relations?

Our Partner and Head of Employment Dpt., Angeliki Tsatsi will elaborate on the employment law aspects of the matter during the Whistleblowing 360ᵒ educational program organized by NOMIKI BIBLIOTHIKI .

The program will take place on June 6 & 7, at NOMIKI BIBLIOTHIKI ’s HQs. Live streaming is also available.

For more information and registration: https://www.nb.org/whistleblowing-360-ekp-programma.html

We are pleased to announce that our Senior Counsel, Sophia Mavridou, is participating as a speaker at the 2nd Real Estate Law Conference organized by Nomiki Bibliothiki, on May 24th in a discussion about “The legal and procedural treatment of the State as a property owner” where she will elaborate on particular issues pertaining to disputes between the State and individuals.

Join us!

For more information & registration: https://www.nb.org/2-sinedrio-dikaiou-tou-xoru.html

We are proud to announce one more transaction reflecting our firm’s commitment to supporting the green transition and sustainable growth of our economy.

Our firm advised Alpha Bank on a groundbreaking project, in connection with the signing of an RRF co-financed loan for the construction of five PV farms in Western Macedonia, as part of a larger solar park in the former lignite mine of Ptolemaida. With a total capacity of 960 MW, this solar park becomes the largest in Greece and one of the largest in Europe!

The financing includes funds sourced from the “Greece 2.0” National Recovery and Resilience Plan (RRF), seamlessly blended with Alpha Bank’s resources to further support the private investment in the RES sector.

It is a great privilege to be part of this innovative collaboration with Alpha Bank and PPC Renewables. As a team, we are driving positive change, contributing to tackling climate change and a greener future.

Our team was led by our partner Valia Apostolopoulou, assisted by our Associates Anastasia Petta, Konstantina Meletiadou, Sophia Papasimakopoulou, Mara Skiada, Sergios Charalambous and Trainee Lawyer Tina Sofianou.

Congratulations to all parties of this landmark transaction!

The protective legal framework for intellectual property rights in Greece was recently upgraded and expanded, to align with the requirements of the new digital era and grant extended rights to authors.
In this article, the IP team of our firm explores on the innovations introduced and explains the rationale of the new provisions.

Read our article below.

We are pleased to welcome Nikolaos Zachos as Senior Counsel at our firm!

Nikos is a talented practitioner with extensive experience in several of the firm’s market leading practices. With his track record, he will bring diverse skills and insights to our team.

Nikos will contribute to the efforts to strengthen our offering to our clients and to the long-term success of our firm.

Our firm has advised National Bank of Greece in connection with the acquisition of a minority shareholding of 7,5% in EPSILON NET with the option to acquire a further 7,5% three years after completion of the initial transaction.

The acquisition is part of a long term exclusive strategic partnership agreement between National Bank of Greece and EPSILON NET for the joint design, development, and distribution of products and services focusing on strengthening and supporting entrepreneurship in Greece with a view to address the modern needs of Greek businesses and drive their digital transformation.

Our core team was led by Catherine Karatzas, assisted by our Senior Associates Olga Vinieri and Maria Chronaki

Out team also included:
For corporate, commercial law: Associates Dimitra Vytogianni, Isidora Vythoulka and Apostolos Latsonas
For capital markets: Senior Associate Eleana Rouga
For employment law: Partner Angeliki Tsatsi and Trainee Pinelopi Anyfanti
For competition law: Associate Maria Kallidopoulou and Maria-Christina Raptopoulou, who also assisted on trademarks and software intellectual property issues
For financing documents: Associate Tina Sofianou
For real estate: Associates Mara Skiada and Christina Zevla
For GDPR issues: Associate Dimitra Karampela

One day left for the 1st Women in Law Conference, organised by Nomiki Bibliothiki.

Our Managing Partner, Catherine Karatzas will be sharing her personal experience in a discussion with John Apsouris, Group General Counsel at HELLENiQ ENERGY HOLDINGS S.A. and Thanos Bourlos, Junior Partner at Bourlos-Koutava & Associates Law Firm.

Join us tomorrow, Tuesday 9 May at Basil & Elise Goulandris Foundation.

For more information and registration: https://www.nb.org/1o-sunedrio-women-in-law.html

We are proud to announce that our firm was nominated in five categories at the IFLR Europe Awards 2023 and won two: the National Law Firm of the Year for Greece and the Deal of the Year: Securitization and Structured Finance – B2Holding NPL Securitization.

We would like to express our gratitude to our clients for their support and to our people for their unwavering effort and commitment to excellence.

We are thrilled to have advised the ad-hoc group of noteholders of the 260 million senior secured notes due 2025 on all Greek law aspects of the landmark consensual recapitalization and restructuring

(the Restructuring) of the ATHEX-listed Frigoglass S.A.I.C. and the group of companies formerly controlled by it (Frigoglass Group).

The Restructuring is one of the largest and most complex transactions of its type relating to a Greek-based multinational group, which is a manufacturer of commercial refrigerators and a leading manufacturer of frozen packaging, with operations in Europe, the Middle East, Africa and Asia.

The Restructuring was completed on April 27, 2023 and was implemented by way of a consensual and coordinated security enforcement process, including a Dutch law share pledge enforcement (following Dutch court approval obtained on April 12, 2023). The Restructuring included the transfer through a special succession process governed by Greek law of substantially all of the remaining assets and liabilities of Frigoglass SAIC to a newly established Greek entity.

Following implementation, 85% of the share capital of new Frigoglass Group is ultimately owned by the former noteholders through certain newly incorporated U.K. companies, and the remaining 15% of the share capital will remain owned by Frigoglass S.A.I.C.

As part of the Restructuring, certain of the former noteholders elected to participate in €75 million of first ranking new senior secured notes due 2026, and €150 million of second ranking senior secured second lien notes due 2028 were distributed in partial repayment to the former noteholders. The new senior secured notes were underwritten by the ad-hoc group of noteholders. The €260 million senior secured notes due 2025 were cancelled in full as part of the restructuring.

The restructuring provides the new Frigoglass Group with improved liquidity, extended maturities and reduced cash interest costs to enable the group to continue its ordinary course operations and deliver on its business plan.

Our core team was led by Partner Anna Manda, assisted by Senior Counsel Nikos Askotiris and Senior Associate Olga Vinieri. Partner Aleka Kondyli and Senior Associate Maria Chronaki handled all capital markets’ matters, Partner Vassiliki Salaka and Senior Associate Ilia Polyzoidi handled all insolvency and litigation matters, Partner Angeliki Tsatsi and Trainee Pinelopi Anyfanti handled all employment law matters. Senior Associates Eleonora Ligoutsikou (Tax) and Alexandros Anagnostopoulos (Real Estate), Associates Dimitra Karampela (IP and GDPR) and Matina Xirogianni (Corporate) and Trainee Katerina Stathakarou (Tax) were also involved in the transaction.

Our team worked with Weil, Gotshal and Manges, LLP who acted as international counsels of the ad-hoc group of noteholders in this transaction.

View the company’s press release here: https://www.frigoglass.com/wp-content/uploads/2023/04/Frigoglass_Press-Release_28-04-23_En.pdf?x15238

Our Partner, Christina Faitakis, stated during the discussion about “Unlocking Financing in Infrastructure” at the Delphi Economic Forum VIII: “Following the adversities faced during the years of the economic crisis and the pandemic, Greece has set ambitious targets and has expeditiously moved to modernise its infrastructure. I am confident that the lessons we learned during turbulent times of the past two decades will serve as the foundations for Greece’s sustainable development”.

On the occasion of Earth Day, we at K&P reaffirm our commitment to our firm’s ESG policy.

We are fully determined to actively contribute to a more sustainable environment. We encourage our people to adopt day-to-day office routines to reduce our environmental footprint and are proud to have acted as advisors in transactions which substantially contribute to tackling climate change and promote a greener future.

Sustainability is the path to prosperity so every one of us should strive towards a more environmentally sensitized world!

Another year, another distinction for our firm!

K&P has been ranked once again Top Tier Firm at The Legal 500 (Legalease) EMEA 2023 edition!

Our firm has been ranked Tier 1 firm in the following practices:
➡️ Banking, Finance & Capital Markets,
➡️ Commercial, Corporate and M&A,
➡️ Energy,
➡️ Real Estate & Construction,
➡️ TMT
and Top ranked in
➡️ EU & Competition,
➡️ Projects & Privatisation,
➡️ Restructuring & Insolvency and
➡️ Dispute Resolution.

Congratulations to our Partners Catherine Karatzas, Christina Faitakis, Anna Manda, Alexandra Kondyli, Nikos Fragos, VALIA APOSTOLOPOULOU, Vassiliki Salaka and Georgios Minoudis, our Senior Counsel Nikos Askotiris and Sophia Mavridou, our Senior Associates Athena Economou, Argyro Vagia, Alexandros Anagnostopoulos, Vassilis Goulielmos, Marina Chronaki and our Associates Anastasia Petta and Maria Kallidopoulou.

Most importantly, we would like to thank our valuable clients for their support and trust all these years, who contribute to our success by acknowledging the high quality of our people and services.

For more information about our firm’s rankings, you may visit the following link: https://www.legal500.com/firms/11850-karatzas-partners/12925-athens-greece/

One day left for the Delphi Economic Forum VIII, which our firm once again proudly sponsors.

Our Partner, Christina Faitakis is participating in a discussion about “Unlocking Financing in Infrastructure”, on Thursday, April 27, together with the distinguished professionals, Spyros Venetsianos, Deputy General Manager, Head of Structured Finance, Corporate & Investment Banking, Eurobank, Nikos Nezeritis, Head of Structured Finance Division, Alpha Bank, Ilias Tsintavis, Partner, Michael Kyprianou – Advocates & Legal Consultants.
The panel will be moderated by Harris Ntigrintakis, Journalist, Alpha 989 (Radio Station) and Eleftheros Typos.

For more information and registration: https://defviii.delphiforum.gr/register

On the occasion of Earth Day, we at K&P reaffirm our commitment to our firm’s ESG policy.

We are fully determined to actively contribute to a more sustainable environment. We encourage our people to adopt day-to-day office routines to reduce our environmental footprint and are proud to have acted as advisors in transactions which substantially contribute to tackling climate change and promote a greener future.

Sustainability is the path to prosperity so every one of us should strive towards a more environmentally sensitized world!

Enjoy our video here.

One more successful Easter bazaar week, hosting four charity organizations and their beautiful Easter creations, has come to an end.

ELPIDA Association, EEA Margarita, Make-A-Wish Greece and ELEPAP accepted our invitation and gave to our people and our neighbors at The Orbit the opportunity to support their great cause.

We would like to thank Noval Property for embracing our firm’s initiative and allowing us to use The Orbit’s premises for yet another charity bazaar.

ELPIDA Association of Friends of Children with Cancer was founded in 1990, and since then it has actualized a comprehensive framework of treatment and support for children suffering from cancer and for their families. More information: https://elpida.org/en/

EEA Margarita vision is the equality of people with intellectual disabilities within the community by offering them the methods, tools, and support to live their lives to the fullest. More information: https://lnkd.in/gRrVYjjy

Make-A-Wish Greece grants wishes that have the power to transform the lives of children with critical illnesses. More information: https://makeawish.gr/en/

ELEPAP is the oldest charitable organization in the country, with more than 80 years of service. Their vision is to offer to all children with disabilities the care they need. More information: https://elepap.gr/en/

What actions should an employer take after receiving a complaint by an employee?

Our firm is the exclusive contributor of the Greek chapter for International Employment Lawyer on the Guide to Workplace Investigations 2023.

Our Partner, Head of Employment, Angeliki Tsatsi together with Associate, Anna Pechlivanidi and Trainee Lawyers, Pinelopi Anyfanti and Katerina Basta provide their insights on key issues that organisations need to consider as they initiate, conduct and conclude investigations in Greece.

Our contribution can be found below.

We are delighted to represent BC Partners on yet another acquisition in Greece and the first such transaction in the private education space.

In particular, we advise BC Partners in connection with the acquisition of a majority stake in Metropolitan College and IEK AKMI group, leading providers of post-secondary education in Greece.

The group operates a network of 27 educational establishments throughout Greece offering a wide variety of courses across multiple disciplines to over 22,000 students.

This transaction marks the second investment of BC Partners GR Investment LP, the BC Partners Greece-focused fund, after its acquisition of the PetCity Group, and follows a series of successful investments of BC Partners in high growth companies in Greece.

Closing is subject to receipt of merger clearance.

Our core team is led by Partner Anna Manda, assisted by Senior Associate Vassilis Goulielmos and Associates Dimitra Vytogianni and Isidora Vythoulka. Our team also includes:

For corporate, commercial law and intellectual property:
Associates Dimitra Karampela, Matina Xirogianni and Vassiliki Nikolaou

For litigation: Associates Alkmini Basakarou and Konstantinos G. Bairaktaris.

For employment law: Partner Aggeliki Tsatsi and Associate Anna Pechlivanidi.

For real estate: Senior Associate Argyro Vagia, Associates Christina Zevla, Maria Asimeli, Mara Skiada, Pantelis Zalokostas and Trainee Lawyers Aspasia Stellakatou Loverdou and Vasiliki Maria Papanastasiou

For competition law: Senior Associate Marina Chronaki and Associate Maria-Christina Raptopoulou.

For the acquisition financing: Partner Nikos Fragos and Associate Iliana Ioannou.

Greece wants to build at least 2 GW of offshore wind generating capacity by 2030. Given the characteristics of Greek waters, much of it will be floating offshore wind farms.

If you are interested in learning which are the optimal opportunities to meet that ambition and which are the best ways of mitigating key bottlenecks that may hinder it, join us at the Renewable Greece Conference 2023 on Friday, April 7.

Our Partner & Head of Energy, VALIA APOSTOLOPOULOU, is participating as a moderator in a roundtable discussion about “Greek offshore wind – potential, bottlenecks and lessons learned”, together with the esteemed professionals Nikolaos Alagialoglou, Senior Director, Head of COP Greece, Spyros Kiartzis, Manager, New Technologies and Alternative Energy Sources, Helleniq Energy Holdings, Carlotta Gradissimo, Offshore Wind Technical Development Manager, Mainstream Renewable Power, and Bruno G. Geschier, Chief Sales & Marketing Officer, BW Ideol.

For more information and registration: https://lnkd.in/gDAF-P7S

Are you interested in learning more about CPPAs?

Join us at the 3rd Energy Law conference, on April 5, where our Partner and Head of our Energy dpt., Valia Apostolopoulou will participate as a speaker and elaborate on the Bankability issues that arise in an ever-changing energy environment.

The conference is organised by NOMIKI BIBLIOTHIKI and you can find more information and register here: https://lnkd.in/dKzPyYmA

We are happy to share that following our firm’s donation to the Aristotle University of Thessaloniki (AUTH), nine students from Ukraine benefited from the University’s scholarship and now continue their studies and progress towards their goals, despite the difficulties they face due to the ongoing war in their country.

During a celebration ceremony of the Department of International Relations, the Rector of the AUTH, Professor Nikolaos G. Papaioannou awarded the nine scholarships to the students.

If you also wish to support the AUTH’s initiative, you may contact the Special Support Committee at [email protected].

For more information: https://lnkd.in/dncuCQCx

? Photopress© Yannis Tsouflidis

Karatzas & Partners advises on another landmark transaction!

Our partner Nikos Fragos assisted by Georgios Zervakis and Matina Xirogianni acted for SMERemediumCap, Latonia Enterprises and WHG Europe Ltd on the joint acquisition of the Tethys Portfolio, the first hotel sectoral loan portfolio to be transacted on the secondary market, with a legal claim value of approx. EUR 255m. The Tethys portfolio perimeter, serviced by Intrum Hellas and offered by the special purpose entities Sunrise I NPL Finance DAC, Sunrise II NPL Finance DAC and Vega II NPL Finance l DAC, comprise of 72 hotel units with 4,000 beds that operate, among other regions, in the Cyclades, Dodecanese and Chalkidiki.

Congratulations to all the parties and teams involved in this highlight transaction!

We are pleased to announce that our Senior Associate, Vassilis Goulielmos, is participating as a speaker in the 9th Conference on Technology and Communications law by Nomiki Bibliothiki on March 29th and will discuss about “Law firms of tomorrow: How Artificial Intelligence is changing the legal profession”.

For more information and registration: https://www.nb.org/9o-synedrio-gia-to-dikaio-texnologias-kai-epikoinonias.html 

We are happy to announce that our Partner, Head of Employment, Aggeliki Tsatsi, will participate as a moderator in the 1st Conference on Contemporary Employment Relations by Nomiki Bibliothiki on March, 28th in the panel: “Violence and harassment in the workplace: issues from practical application”.

In a roundtable with the distinguished professionals Calypso Goula, Secretary General for Demography, Family Policy and Gender Equality, Georgia Vazaki, Head of the Labor Inspectorate’s Independent Department for Workplace Violence and Harassment, Alexiou Maria Christina, HR Operations Expert, INTERAMERICAN Group of companies, and Marina Vergou, HR Director, Groupama, the discussion will center around the implementation issues that arise from modern practice.

For more information and registration: https://www.nb.org/1o-sunedrio-sugxrones-ergasiakes-sxeseis.html

A few days ago, we had the amazing opportunity to participate in the 1st Job Fair, organized by ELSA Athens, European Law Students’ Association.

During the first day of the job fair, the students had the chance to learn from our Partner, Nikos Fragos, our Senior Counsel, Sophia Mavridou and our HR Manager, Aimilia Antonopoulou, about the activities, culture, and values of our firm. Our trainee lawyers, Katerina Stathakarou, Tina Sofianou, Athanasios Christou, Vasiliki Maria Papanastasiou and Aspasia Stellakatou Loverdou, enriched our presentation by sharing their personal experience of working with us.

During the second day, along with our Partner, Vassiliki Salaka, we had plenty of fruitful discussions with law students who explore their career opportunities and are eager to develop further their skills.

Both days filled us with hope and optimism for the next generation of lawyers in our country.

We would like to congratulate ELSA Athens for such a successful event! See you all next year!

What caused the recent crises in the US and in Switzerland? What are the lessons learned from them?

Read more on the file below.

For 17 years our firm and partners are top ranked in Chambers and Partners Europe 2023!

Congratulations to our Managing Partner, Catherine Karatzas, named for third consecutive year as “Eminent Practitioner”, our Partners Christina Faitakis, Vassiliki Salaka, Anna Manda, Alexandra Kondyli, Nikos Fragos, Top Ranked in Banking & Finance, Corporate/Commercial, Real Estate, Competition law and TMT. We also proudly announce, the entry of our Partner Valia Apostolopoulou, Head of our Energy team, in the Energy practice rankings.

We are honored to receive our clients’ feedback proving our firm’s dedication and commitment for yet another year. Most importantly, we thank our people for their professionalism and hard work, as they are an integral part of our success.

When “nice to have” becomes “must have”, our Partner Christina Faitakis discusses the challenges of ESG rules’ implementation in the corporate structure, during the The Legal 500 (Legalease) GC Summit 2023 Greece, on Wednesday 15 March, at St. George Lycabettus Hotel.

We look forward to hearing the views and experience of Dimitris Tzavaras, Senior Manager, Tax & Legal – ESG Services, PwC Greece, Stamatis Varsamos, Senior Legal Advisor, Athens International Airport and Spyros Venetsianos, Deputy General Manager, Eurobank.

For more information: https://www.legal500.com/events/gc-summit-greece-2023/#overview

K&P is participating in the 1st Job Fair organized by ELSA Athens on 10 & 11 March at Serafio, in the city of Athens!

During the job fair, the law students will have the opportunity to meet our people (Partners, Associates, Trainees and HR) and learn more about our firm’s culture, working environment and day to day practice.

Don’t miss this amazing opportunity!

For more information: https://lnkd.in/dJMdf7dV

On the occasion of the International Women’s Day 2023, K&P proudly reports that 77% of our people are women and our managing partner and majority of partners are women.

Equal opportunities and an inclusive environment represent fundamental principles for K&P. We embrace diversity and strive on creating an even more inclusive world where all genders will be treated equally without any discrimination.

In tribute of IWD2023, our firm, for a second consecutive year, reinforces the action of Diotima Centre, through a donation to support the program of legal aid for low-income women survivors of gender-based violence.

Diotima Centre, is a non-profit organization which provides a series of services aimed at supporting and empowering women.

Our firm has advised Österreichische Post AG in connection with the acquisition of an 80% stake in the Greek technology services provider Agile Actors and the strategic cooperation between them.

Agile Actors is one of Greece’s largest and most dynamic software development and data engineering organisations.

With annual revenue of about € 2.5 billion, Austrian Post is Austria’s leading logistics and postal service provider, with an ambitious digital transformation plan. The Austrian Post Group is also active through its subsidiaries in the areas of telecommunications, e-commerce, financial services through bank99 and now with Agile Actors in technology services.

Our core team was led by Catherine Karatzas, assisted by our Senior Counsel Nikos Askotiris, our Senior Associate Olga Vinieri and our Trainee Pinelopi Anyfanti. Our team has also included:
–          for corporate, commercial and financing matters: our Associate Vassiliki Nikolaou and our Trainee Tina Sofianou;
–          for employment law matters: our Partner Aggeliki Tsatsi and our Trainee Katerina Basta;
–          for real estate matters: our Associate Mara Skiada.

Explosive growth in the logistics sector!

Our real estate team is proud to have advised PRODEA Investments, regarding the acquisition of Thetis Ktimatiki-Emporiki S.A., owner of an energy efficient logistics complex of 59,015 sq.m., in an area of 146,000 sq.m. in Aspropyrgos, Attica.

Our team was led by our Senior Associate Alexandros Anagnostopoulos, assisted by our Associates Pantelis Zalokostas, Maria Asimeli, Christina Zevla and Maria Vamvaka.

For more information: https://lnkd.in/dg5iF3qk

We are proud to have advised Kpler, the leading provider of commodities data, analytics and market insight, on all Greek law aspects relating to the acquisition of MarineTraffic, the Athens-based provider of global ship-tracking data and maritime analytics. The deal follows an earlier acquisition of FleetMon, a well-known AIS data service provider, by MarineTraffic, resulting in a coordinated double acquisition for Kpler in the maritime analytics space.

Our team was led by our Partner Anna Manda, assisted by our Associates Stavroula Simitzi, Dimitra Vytogianni, Regina Keramida, Maria-Christina Raptopoulou and our Trainee Lawyer Mariana Gravani. Aggeliki Tsatsi, Partner and head of Employment, supported by our Associate Anna Pechlivanidi, advised on all employment aspects of the transaction while our Associate, Alkmini Basakarou, advised on Real Estate law matters.

Congratulations and many thanks for the excellent cooperation to all legal teams involved in the transaction: Cooley LLP (UK), the lead advisors of Kpler, and Lambadarios Law Firm and Reed Smith LLP (UK) who advised the shareholders of MarineTraffic.

For more information: https://www.kpler.com/blog/kpler-acquires-marinetraffic-and-fleetmon-for-maritime-sector-expansion 

“A great success comes along with a great team.”

Having these words in our mind as an inspiration, we aim to create an ever-growing team of valuable professionals!

More specifically, in 2022, we added 25 new members to our team, who have already contributed to a large number of innovative and ground-breaking projects.

We would like to thank them for their inspiration, new ideas and enthusiasm!

Would you like to be part of our amazing, award-winning team? Check our openings and apply now!

Learn more: https://karatza-partners.gr/careers/

Our firm proudly acted as legal advisor to REDS S.A., a subsidiary of the ELLAKTOR GROUP, in connection with the issuance of a secured bond loan of up to EUR 71 million by its 100% subsidiary GYALOU EMPORIKI KAI TOURISTIKI MONOPROSOPI A.E., for the purchase of the land in Gournes, Heraklion, Crete from the Hellenic Republic Asset Development Fund (HRADF / ΤΑΙΠΕΔ).

The acquisition and development of the Gournes seaside property, former US base, which covers an area of 345,567 square meters, is one of the largest and most significant investments, which is planned to be completed by REDS S.A. together with international and domestic investors within the next five years. This project paves the way for the remarkable tourist and commercial development in Crete expecting to generate enormous benefits to the local society and the Greek economy in general.

Our team was led by our Partner Nikos Fragos, assisted by our Associate, Evanthia (Evi) Dimou and our Trainee Lawyers Tina Sofianou and Eleni-Amalia Giannakopoulou. Real estate issues were handled by our Associate Pantelis Zalokostas.

Our firm contributed to issue no. 12/2022 of “Theory and Practice of Administrative Law” (in Greek, Θεωρία και Πράξη Διοικητικού Δικαίου) law journal (see p. 1419 et seq.), published by NOMIKI BIBLIOTHIKI (content in Greek).

Our Senior Cοunsel Sophia Mavridou, specialized in Public Procurement, shares her thoughts and comments on judgement no. 470/2022 of the Thessaloniki Administrative Court of First Instance under the subject “Proceedings of articles 105 and 106 of Introductory Law to the Civil Code (ΕισΝΑΚ) against a municipality as a contracting authority”.

The “skyline” of the Greek real estate market changes and we are thrilled to participate in what is considered to be the largest open market real estate portfolio transaction in Greece in recent years!

Our firm advised Alpha Bank in forming with DIMAND S.A. and Premia Properties REIC an equity partnership in real estate investment, through the sale of a EUR 438 million real estate portfolio (Project Skyline), comprising of 573 assets of multiple types, including offices, commercial real estate, residential and industrial/logistics assets, with a gross area of c. 500,000 sq.m.

Our team was led by our Real Estate Partner Vassiliki Salaka, assisted by Sophia Mavridou, Senior Counsel, Alexandros Anagnostopoulos, Senior Associate, Aristides Makripodis, Associate, and Katerina Stathakarou, Trainee Lawyer.

Specific tax law matters were handled by our Tax Partner Georgios Minoudis, assisted by Eleonora Ligoutsikou, Senior Associate.

Our Partner Alexandra Kondyli advised on capital markets’ matters, assisted by Maria Chronaki, Senior Associate.

Due diligence matters were handled by Senior Associates Argyro Vagia and AIKATERINI TOUMPANOU, and Associates Maria Asimeli, Alkmini Basakarou, Apostolos Latsonas, Mara Skiada and Christina Zevla.

Competition law issues of the project were handled by our Competition Partner Anna Manda, assisted by Associates Maria Kallidopoulou and Maria-Christina Raptopoulou.

Other matters were handled by our Partners Christina Faitakis and Nikos Fragos, our Senior Counsel Nikos Askotiris and our Senior Associate Vassilis Goulielmos.

For more information:
https://lnkd.in/dnn4p2tH

Our firm acts as legal advisor to Eurobank and Alpha Bank, in connection with the financing of Meton Energy S.A., a joint venture of RWE Renewables and PPC Renewables – ΔΕΗ Ανανεώσιμες, for granting a long-term financing of €144 million, regarding the implementation of a 210MW PV portfolio in Amyntaio, located in the Western Macedonia region, Greece.

The financing includes funds sourced from the “Greece 2.0” National Recovery and Resilience Plan (RRF), seamlessly blended with the Greek Banks’ resources to further support the private investment in the RES sector.

We would like to thank our clients for their trust and cooperation.

We are delighted to be nominated for the GCR Award for Regional firm of the year – Europe by the Global Competition Review.

In a very active past year for competition law in Greece, our team has been involved in a large number of cases and has stood out thanks to its creative, strategic and innovative work.

We are honoured to be listed in this impressive list of nominees and would greatly appreciate your support.

You can view the nominees and cast your vote until the 6th of February using the link below: https://docs.google.com/forms/d/1ZNtbBvRY0hwbO1f_80pGwX4zp4vtxvmW5ZKfwGz5KHY/viewform?edit_requested=true  

We have advised Cepal Hellas Financial Services S.A. with respect to Project Rebound, the sale and transfer of large corporate reperforming loans from securitisation vehicles benefiting from the provisions of the Hellenic Asset Protection Scheme (”Hercules”) to Optima bank, being the first transaction in the Greek market entailing the sale of reperforming securitized loans back to a credit institution.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and our Trainee Lawyer Mariana Gravani.

We are glad to have worked with our client for the completion of this value adding transaction.

For more information: https://lnkd.in/dZ2dypT4

Our firm proudly acts as legal advisor to European Investment Bank (EIB), Eurobank and National Bank of Greece, in connection with a secured bond issuance by the 100% subsidiary of PPC Renewables – ΔΕΗ Ανανεώσιμες, for the construction of a photovoltaic park with a total installed capacity of 200 MWp in Kozani, Western Macedonia, Just Transition region.

This financing is part of a wider funding cluster for the construction of a portfolio of photovoltaic parks with a total installed capacity of 230 MWp in Western Macedonia, backed up by the InvestEU Programme, in support of the ambitious Greek National Energy and Climate Plan.

This investment is one of the largest and most significant solar energy projects in Greece, paving the way for the phasing out of the coal-fired power plants of PPC. Another step towards Greece’s green recovery and reduction of its carbon footprint to meet the European Union climate targets by 2050.

Our team was led by our partner Valia Apostolopoulou, assisted by our associate, Anastasia Petta. Real estate issues were handled by our team led by our partner Vassiliki Salaka, assisted by our senior associates Argyro Vagia, Athena Economou, Ilia Polyzoidi and Alexandros Anagnostopoulos. Our teams were also assisted by our trainee lawyers Tina Sofianou, Eleni-Amalia Giannakopoulou, Athanasios Christou and Georgios Zervakis.

Congratulations to all the teams:
European Investment Bank (EIB), Eurobank, National Bank of Greece, PPC Renewables – ΔΕΗ Ανανεώσιμες, Freshfields Bruckhaus Deringer, Norton Rose Fulbright, TÜV HELLAS, Deloitte, Howden Hellas

For more information: https://lnkd.in/d8kt8vk3

Our firm is the exclusive contributor of the Greek chapter of the Lexology Getting The Deal Through Labour & Employment 2022 guide.

Our Partner & Head of Employment dpt., Angeliki Tsatsi, provides her insight on recent Greek employment law developments and trends, including on the impact of the MeToo movement on workplace investigations of harassment and discrimination cases, as well as on restrictive covenants on departing employees.

Read our contribution by clicking on the Continue Reading button below.

We are delighted that our competition team, led by Anna Manda, has once again been recognized as a Recommended law firm in the GCR 100 annual rankings of the leading competition practices in Greece for 2023.

We would like to thank our clients for their ongoing trust and support and reiterate our commitment to maintain the high level of services that they are used to from our practice.

We would also like to express our gratitude to our people, who are an integral part of our success, for their hard and exceptional work throughout 2022.

We advised Wirtgen Invest Energy GmbH, an international investor in the Energy market, on the acquisition of the company FOTOVOLTAIKOS STATHMOS MARGARITI SINGLE MEMBER S.A., a substantially licensed Greek SPV for the development and operation of a photovoltaic power plant portfolio of 50 MWp, it being the first investment of Wirtgen Invest Energy GmbH in the Greek RES market.

Our team was led by our Partner, Nikos Fragos and our Senior Counsel, Sophia Mavridou, assisted by our Senior Associate, Ilia Polyzoidi (on real estate matters), our Associates, Konstantina Meletiadou, Anastasia Petta, Nikos Stefas (on regulatory matters), Anastasia Mourmouti (on financing matters), Maria-Christina Raptopoulou (on corporate matters), and our Trainee Lawyer, Tina Sofianou. The tax matters of the transaction were handled by our Senior Associate, Eleonora Ligoutsikou and our Trainee Lawyer, Katerina Stathakarou.

Our firm has proudly advised J.P. Morgan (JPM) in connection with the Greek law aspects of closing a transaction for the acquisition of a 48.5% ownership stake in Viva Wallet S.A. (Viva), a leading European cloud-based payments fintech company and the first “unicorn” in Greek history.

This strategic investment of JPM in Viva is a groundbreaking deal, which reinforces confidence in the Greek economy and Greece’s thriving technology ecosystem. Viva is an innovator in digital payments with omnichannel merchant acquiring capabilities. It holds a banking and an electronic money institution license in Greece and operates local branches in 24 European markets.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Nikos Askotiris, our Senior Associate Olga Vinieri and our Associate Iliana Ioannou.

Our team has also included:
– For corporate law and general legal matters: our Partner Vassiliki Salaka, our Senior Associates Vassilis Goulielmos and AIKATERINI TOUMPANOU, our Associates Stavroula Simitzi, Vassiliki Nikolaou, Regina Keramida, Angela Boletsi, Konstantinos G. Bairaktaris, and our Trainee Lawyers Apostolos Latsonas, Mariana Gravani, Thanasis Christou, Eleni-Amalia Giannakopoulou, Georgios Zervakis and Vassiliki Papanastasiou,
– For regulatory matters: our associate Sergios Charalambous,
– For tax law matters: our Partner Georgios Minoudis, our Senior Associate Eleonora Ligoutsikou and our Trainee Lawyer Katerina Stathakarou,
– For employment law matters: our Partner Aggeliki Tsatsi and our Trainee Lawyer Pinelopi Anyfanti,
– For real estate matters: our Senior Associate Alexandros Anagnostopoulos and our Associate Mara Skiada.

Our firm advised ELLAKTOR GROUP in the context of the sale of 75% of the Renewable Energy Sources division to Motor Oil Renewable Energy (MORE). The RES division of Ellaktor Group consists of operating parks with a total capacity of 493 MW as well as a pipeline of parks with a total capacity of 1,6 GW.

The transaction constitutes one of the largest acquisitions in terms of enterprise value in the Greek Energy market, valued at approx. EUR 995m. Within the context of this transaction, the Ellaktor Group refinanced several of its debt obligations and secured new financing.

Our team was led by our partner Alexandros Metallinos, assisted, in the context of the M&A transaction, by our senior associate Marina Chronaki and our associate Regina Keramida and in the context of the finance transaction, by our senior associate, Vassilis Goulielmos and our associate, Konstantina Chiotis. Our partner Aggeliki Tsatsi advised on the employment law matters of the transaction.

Last week, we had the pleasure of hosting the Christmas bazaar of 4 charitable organizations, Make-A-Wish Greece, ELEPAP, EEA Margarita and ELPIDA Association. Our people along with our neighbors at The Orbit were delighted to support the humanitarian work of these organizations and at the same time to contribute to their cause by purchasing the amazing creations of their beneficiaries that add a heartwarming touch to Christmas Holidays.

Make-A-Wish Greece grants wishes that have the power to transform the lives of children with critical illnesses. More information: https://makeawish.gr/en/

ELEPAP is the oldest charitable organization in the country, with more than 80 years of service. Their vision is to offer to all children with disabilities the care they need. More information: https://elepap.gr/en/

EEA Margarita vision is the equality of people with intellectual disabilities within the community by offering them the methods, tools, and support to live their lives to the fullest. More information: https://lnkd.in/gRrVYjjy

ELPIDA Association of Friends of Children with cancer was founded in 1990, and since then it has actualized a comprehensive framework of treatment and support for children suffering from cancer and for their families. More information: https://elpida.org/en/

We have advised PAPOUTSANIS SA in connection with receiving a €12 million loan provided by EBRD’s Greek RRF Co-Financing Framework.

PAPOUTSANIS SA is a leading Greek manufacturer with a rich heritage and one of the largest manufacturers of soap and liquid cosmetics in Europe.

The loan granted by EBRD aims at enabling the company upgrade its production system and reduce energy consumption and is under the EBRD’s Greek RRF Co-Financing Framework and will be implemented as part of the Greece2_0, funded by Next Generation EU.

Our team was led by our Partner, Georgios Minoudis, assisted by Katerina Dalamara, Senior Counsel, Vassiliki Nikolaou, Associate and Tina Sofianou, Trainee Lawyer.

K&P team led by Christina Faitakis acts as Greek law legal advisor to Hellas Gold S.A. in a €680 million project financing facility for the full restart of the development of the Skouries Project, a world-class gold and copper asset.

This transformational project, which will create significant social and economic value for Greece and the local communities, is the first project finance mining deal in Greece.

Last week, on the occasion of the International Day for the Elimination of Violence against Women that is marked on the 25th of November, we had the pleasure of welcoming to our offices Ms. Calypso Goula, Attorney at Law and Secretary General for Demography and Family Policy and Gender Equality in the Ministry of Labour and Social Affairs, and Ms. Thouli Parasoglou, Attorney at Law, LL.M, member of the Greek Family Law Association.

During our fruitful discussion we elaborated on issues that relate to the social causes of domestic violence incidents, which have increased during recent years, with the aim of raising awareness regarding the protection tools that the state offers to domestic violence victims.

It was a great opportunity for our people to find out how they can intervene if they witness an incident of gender-based or domestic violence, or how they can protect victims of such incidents.

We would like to thank Ms. Goula and Ms. Parasoglou for the inspiring and motivational discussion!

For more information: https://lnkd.in/duyRC6qh

We have advised National Bank of Greece in relation to the sale of 51% of the share capital of NBG Pay S.A. to EVO Payments Inc, for a cash consideration of €158m, valuing NBG’s Merchant Acquiring Business at €310m. NBG Pay S.A. forms the basis of the Joint Venture partnership between the National Bank of Greece and [EVO Payments, Inc.], a leading payment technology and services provider in relation to merchant acquiring and payments solutions with a presence in over 50 markets worldwide.

NBG previously contributed the payment acceptance business to NBG Pay through a spin-off. In addition, it is noted, a long-term exclusive commercial agreement was signed between NBG, NBG Pay and EVO.

Τhis partnership is expected to create significant value from synergies that will arise through the combination of NBG’s large customer base and EVO’s technological expertise in payment services.
It is significant that all transaction documents are governed by Greek law.

Our team was led by our Managing Partner, Catherine Karatzas, assisted by our Senior Counsel, Christos Paraskevopoulos and Associates, Iliana Ioannou and Aris – Nikolaos Papadopoulos, whereas our Partner, Aggeliki Tsatsi, advised on all employment law aspects of the transaction.

For more information: https://lnkd.in/dmrXzVZ5

We are very happy to announce the successful completion of a GBP 200 million senior preferred bonds issuance by National Bank of Greece (the Bank) under the GMTN Program of the Bank which was successfully placed in the international capital markets (the Notes).

The deal is the first offering in this currency from a Greek bank since 2009 with 70% of the Notes allocated to foreign investors.

The issuance is part of the Bank’s strategy to increase its Minimum Required Eligible Liabilities (MREL), which is a supervisory requirement for all systemic banks.

The Goldman Sachs Group Inc. acted as joint bookrunner of the issuance.

The capital markets and financial regulation matters were handled by our partner Alexandra Kondyli assisted by our Senior Associate Maria Chronaki and the tax matters were handled by our tax team (Eleonora Ligoutsikou, Georgios Minoudis, Katerina Stathakarou).

Many thanks to our client for giving us the opportunity to participate in fascinating transactions all these years.

For more information: https://lnkd.in/dM3CgVJA

Our firm is very proud to have supported the publication “The Jews of Greece”, a collective volume published by “Alexandria Publications”, in collaboration with the Central Board of Jewish Communities in Greece and the Aristotle University of Thessaloniki (AUTH).

In the context of our country’s Presidency of the International Holocaust Remembrance Alliance (IHRA) in 2021, which also coincided with the 200th anniversary of the Greek revolution of 1821, our firm took the initiative to sponsor the writing of this collective volume in order to honor the Jewish presence in Greece.

The book launch of “The Jews of Greece” took place on Tuesday 29th November at the The Benaki Museum. Our partner Georgios Minoudis addressed a greeting during an emotional gathering including academics, journalists, authors, representatives from the political and cultural sectors of Greece and Jewish community members.

Read more about “The Jews of Greece” here: https://lnkd.in/dZcVuSXU

We are proud to have advised Waterwheel Capital Management, LP in relation to Sunrise III, the latest HAPS securitization transaction originated by Piraeus Bank, involving an NPE portfolio of €0.5 billion GBV.

Our client has agreed to purchase 51% of the mezzanine and junior notes, subject to customary conditions precedent.

Our team was led by our Partner, Christina Faitakis and our Senior Associate, Sonia Saranti.

We are very happy that we have advised National Bank of Greece in relation to the very successful issuance of the €500m senior preferred bonds with a coupon of 7.25% and a yield of 7.50% and its placement with the internal capital markets. The bonds issued mature in five years and are callable in four years. The issuance took place as part of the Bank’s strategy to increase its Minimum Required Eligible Liabilities (MREL), in the context of the supervisory requirement which applies to all systemic banks.

The transaction attracted interest in excess of €1.1 billion, with the participation of more than 100 institutional investors. More than 60% of the bond was allocated to international institutional investors.
BofA Securities, Goldman Sachs Bank Europe SE, IMI Intesa Sanpaolo, Nomura and UBS acted as joint bookrunners of the issuance.

Our Capital Markets and Financial Regulation team was led by our partner Alexandra Kondyli and our Senior Associate Maria Chronaki, assisted by Sergios Charalambous and Dimitris Passas. The tax matters of the transaction were handled by our partner, Georgios Minoudis, assisted by our Senior Associate Eleonora Ligoutsikou and our Trainee Lawyer Katerina Stathakarou.

For more information: https://lnkd.in/deGZfkjF

We have advised National Bank of Greece on the signing of Memoranda of Understanding (MoU) with EPSILON NET and its main shareholder, for the conclusion of a strategic cooperation agreement as well as for the acquisition of a minority stake in EPSILON NET, implementing the bank’s strategy to expand operations through collaborations in the field of fintech.

The MoU with EPSILON NET foresees the conclusion of a long-term, exclusive cooperation between EPSILON NET and NBG with the aim of joint design, development and distribution of products and services, whereas the MoU with the main shareholder, Mr. Ioannis Michos provides for the acquisition by NGE of a minority interest of 7.5% of the total share capital of EPSILON NET held by the main shareholder, as well as the possibility of obtaining from the same a further stake of 7.5% after three years.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and Senior Associates Eleana Rouga and Olga Vinieri. Our competition team was led by our partner, Anna Manda, assisted by our associate Maria Kallidopoulou.

For more information: https://lnkd.in/gWVZRGqr

We are pleased to be sponsoring the 2nd panhellenic conference on public contracts and concessions, organized by «Theory and Practice of Administrative Law» and NOMIKI BIBLIOTHIKI , under the auspices of the Hellenic Single Public Procurement Authority (“H.S.P.P.A”), which is taking place on November 23rd.

Our senior counsel, Sophia Mavridou, is participating as a speaker in “The need for rapid contracting, in relation to the need to protect the interests of economic operators and provide effective legal protection” panel, addressing issues that concern article 368 of Law 4412/2016 (recourse for the annulment of a contract).

For more information and registration: https://lnkd.in/dS2j6J6p

Our firm is for the fourth consecutive year,  the exclusive contributor of the Greek chapter of the Lexology Getting The Deal Through Private Mergers & Acquisitions 2023 guide.

The authors of the chapter Catherine Karatzas, Partner, Anna Manda, Partner and Olga Vinieri, Senior Associate, provide their insights into the legal framework for Private M&A in Greece, including structural considerations, filing and consent requirements, developments and trends in M&A transactions and other special considerations.

Read our contribution by clicking on the Continue Reading button below.

We are excited to be sponsoring the 5th Compliance conference by NOMIKI BIBLIOTHIKI , which is taking place on November 10th.

Our partner and Head of our Employment Department, Aggeliki Tsatsi, is participating in the “Workplace Violence and Harassment Regulations (L. 4808/2021), Diversity & Inclusion Issues” panel, addressing issues that concern shaping the ethical corporate culture and the consequences of non-compliance with the regulatory framework.

For more information and registration: https://lnkd.in/drqV9R_v

Our firm is a proud sponsor of the 6th Competition Law & Policy conference by NOMIKI BIBLIOTHIKI which is taking place on November 3-4.

Our partner and Head of our Competition department, Anna Manda, is participating in the “Merger Control” panel and will speak about the interplay between the merger control rules and the rules pertaining to control of foreign investments and subsidies.

For more information and registration: https://www.nb.org/6th-international-competition-law-conference.html

Last week, we had the pleasure of welcoming Irene Chartzi, Chrysoula Petroulaki and Sara Tzouvani from the Athens Law School who participated in The John H. Jackson Moot Court Competition hosted by ELSA and the World Trade Organization, under the academic supervision of Assistant Professor of International Law, Anastasios Gourgourinis.

The team with their excellent performance, won the Best Written Submissions Overall Award, the Best Written Submission for Complainant, the Best Written Submission for Respondent, as well as the 2nd place of the Second European Round in 2022 and qualified among the four best teams for the Semi-Finals of the Final Oral Round in Geneva.

We always feel extremely proud and happy to support law students through our firm’s sponsorship programs and we commit to continue offering them the chance to pursue their dreams and advance their academic knowledge.

If you wish to participate in next year’s The John H. Jackson Moot Court Competition: https://lnkd.in/dgGaJZyJ

Our firm successfully advised the lenders of Schur Flexibles Group, an international sustainable custom packaging solutions manufacturer with presence in Greece through two Greek subsidiaries, in the context of its lender-led financial restructuring.

The deal included the restructuring of the group’s existing debt, the write-down of 75% of its existing debt and the provision of a new financing of EUR 160 million, resulting at the reduction of the group’s leverage.

The lenders legal team included advisors from multiple jurisdictions working in an often-demanding project, with a tight timeline. Our firm advised on Greek corporate and tax law matters with respect to the negotiation of the finance documents and the Greek law governed securities.

Our finance team was led by our partner Nikos Fragos and was assisted by our senior associate Zissis Papazissis and our trainee lawyer Georgios Zervakis. Our tax law team was led by our partner Georgios Minoudis and assisted by our senior associate Eleonora Ligoutsikou and our trainee lawyer Katerina Stathakarou.

Our firm advised Eurobank S.A. on the granting of a bond loan financing of up to EUR 580 million to DEPA Infrastructure, the leading Greek gas distribution operator that recently became part of the Italgas’ Group. The Bond Loan shall be mainly used to finance investments under the infrastructure development plan of DEPA Infrastructure and its subsidiaries in Greece.

Our team advising on this matter included our partner Nikos Fragos, our senior associate Zissis Papazissis and our trainee lawyer Eleni-Amalia Giannakopoulou.

We advise Antenna Group, the international media and entertainment organization and the largest Greek media group, with respect to its participation and successful selection as the preferred bidder in a tender process organised and conducted by Eurobank S.A., concerning the acquisition of a 100% equity stake in the company Village Roadshow Operations, Greece, the leading multiplex cinema chain in Greece, operating under the Village Cinemas trademarks, that mainly shows blockbuster, mainstream, children and family films.

This is a significant M&A transaction in the TMT market given the importance of Village Cinemas and the compatibility of the cinema business with the overall business strategy of Antenna Group.

Our team was led by our partner Anna Manda, assisted by our senior associates Vassilis Goulielmos and Maria Chronaki, our associates Matina Xirogianni, Maria-Christina Raptopoulou and Regina Keramida and our trainee lawyer Georgios Zervakis. Employment matters were handled by our partner Aggeliki Tsatsi, assisted by our trainee lawyers Pinelopi Anyfanti and Katerina Basta, while our Real Estate team was led by our partner Vassiliki Salaka, assisted by our associates Christina Zevla and Maria Asimeli.

For more information: https://antenna-group.com/news/antenna-group-acquires-cinema-chain-village-roadshow-operations-greece/

Our firm participated once again in the Race for the Cure® 2022, organized by the Hellenic Association of Women with Breast Cancer, Alma Zois, raising awareness for breast cancer.

Yesterday, our people, along with their families and friends, embraced this important cause by showing solidarity with all women who have survived and supporting all women who are currently fighting this disease.

Until we meet again next year, to run side by side with all of you!

Our firm proudly supports for the 4th consecutive year the Hellenic Association of Women with Breast Cancer, Alma Zois, through the participation of our running team in the Greece Race for the Cure 2022!

Race for the Cure, represents one of the biggest awareness events in Europe that supports through its fundraising cause breast cancer organizations and hospitals to create awareness and bring together survivors.

Our firm supports through its presence, for yet another year, this great cause and encourages everyone to join this special race this Sunday, October 2nd, at Zappeion.

We are proud to announce that we have responded to the excellent initiative of the vocational training center “Margarita”, offering through the platform “Ergasiamou.gr”, opportunities to people with intellectual disabilities to become part of the active labor market and to integrate into society in an equitable and productive manner.

Our new colleague joined us in June and is already a valuable member of our team!

We remain committed to our Corporate Social Responsibility program and actions, aiming at creating an inclusive society of equal opportunities.

For more information about the platform ergasiamou.gr: https://youtu.be/wugiCCjst1g

We are delighted to be an official contributing firm to this year’s Chambers & Partners Global Practice Guide on Merger Control. Our partner Anna Manda, and associates Maria Kallidopoulou and Maria-Christina Raptopoulou contributed to the Greek chapter of Mergers Control Law and Practice. Our competition team is renowned for its merger control practice and has been involved in five (5) out of the (15) concentrations that were notified to the Hellenic Competition Commission in the preceding year.

This stimulating guide provides expert insights on the basic legal framework for mergers in Greece, the jurisdictional thresholds and the notification procedure, gun-jumping, review powers of the Hellenic Competition Commission, and remedies.

Read our chapter by Clicking on the Continue Reading button below.

We’re delighted to announce that once again our firm’s Banking & Finance, Capital Markets, Mergers and Acquisitions and Project Development practices have been recognised in Tier 1 in the IFLR1000 rankings.

IFLR1000 rankings reflect our firm’s reputation as one of the leading law firms in Greece, as well as the commitment of our people to provide our clients with the highest quality legal services.

For more information: https://www.iflr1000.com/Jurisdiction/Greece/Rankings/160#rankings

Our firm advised Bespoke SGA Holdings S.A. and EOS Hellenic Renaissance Fund on the acquisition of the company Hellenic Juices Société Anonyme, a Greek company active in the field of production of fruit and vegetable juices, as well as on the financing of the transaction. The acquisition of 100% of Hellenic Juices Société Anonyme took place through a newly established entity founded by Bespoke SGA Holdings and EOS Hellenic Renaissance Fund and is a strategic step for Bespoke SGA Holdings to enter the sector of fruit juices production while it will also expand the participation of EOS Hellenic Renaissance Fund in entities active in the Greek food and beverage industry.

Our team was led by our partner, Alexander Metallinos, assisted by our senior associates Olga Vinieri and Ioanna Stamou, our associates Vassiliki Nikolaou, Katerina Basta, Christina Zevla, and our trainee lawyer Pinelopi Anyfanti. Our Banking and Finance team was led by our partner, Christina Faitakis, assisted by our trainee lawyer Georgios Zervakis. Our competition team was led by our partner, Anna Manda, assisted by our associates, Maria Kallidopoulou and Maria – Christina Raptopoulou.

We are proud to have advised our client, Athens International Airport S.A. (“AIA”), in connection with its financing amounting to circa €1.1billion through the issuance of two Greek law governed senior secured bond loan facilities. The proceeds of the bond loans, which were subscribed by a syndicate of all four Greek systemic banks, namely National Bank of Greece S.A., Piraeus Bank S.A., Alpha Bank S.A. and Eurobank S.A., are used to refinance existing indebtedness of AIA made available by the same syndicate and for Capex funding purposes.

The transaction, which is the biggest project and corporate financing in Greece to-date for 2022 was structured and implemented against a very aggressive timeline.

Our team was led by our partners Alexander Metallinos and Anna Manda, assisted by our Senior Associate, Sonia Saranti, Associates Iliana Ioannou and Nikos Stefas and Trainees, George Zervakis and Tina Sofianou.

Our firm advised Italgas S.p.A. on the acquisition of DEPA Infrastructure S.A., the largest gas distribution operator in Greece form the Hellenic Republic Asset Development Fund S.A. and the Hellenic Petroleum Holdings S.A. The acquisition marks the successful outcome for Italgas of its participation in the international tender launched in 2019 by the HRADF and the return to Greece of one of the largest gas distributors in Europe.

Our team was led by our partner Christina Faitakis assisted by our senior counsel Katerina Dalamara and our associates Konstantina Chioti and Vaso Nikolaou. Competition clearance of the acquisition was successfully undertaken by our competition partner Anna Manda with the assistance of senior associate Μarina Chronaki and associate Angela Boletsi, while regulatory issues and due diligence were successfully tackled by our energy partner Valia Apostolopoulou, employment partner Angeliki Tsatsi, senior associates Argyro Vagia, Alexander Anagnostopoulos, Athena Economou, Ilia Polyzoidi, and our associate Christina Zevla.

We are delighted to be an official contributing firm to this year’s Chambers & Partners Global Practice Guide on Merger Control. Our partner Anna Manda, and associates Maria Kallidopoulou and Maria-Christina Raptopoulou contributed to the Greek chapter of Mergers Control Law and Practice. Our competition team is renowned for its merger control practice and has been involved in five (5) out of the (15) concentrations that were notified to the Hellenic Competition Commission in the preceding year.

This stimulating guide provides expert insights on the basic legal framework for mergers in Greece, the jurisdictional thresholds and the notification procedure, gun-jumping, review powers of the Hellenic Competition Commission, and remedies.

Read our chapter for more expert commentary on Merger Control by clicking on the Continue Reading button below.

Our partners, Catherine Karatzas and Alexandra Kondyli and our senior associates, Maria Chronaki and Eleana Rouga are the contributing editors of the Greek chapter in Chambers and Partners Corporate Governance 2022 Global practice guide.

In the Greek chapter you may find an in-depth analysis of the Greek corporate governance framework and the relevant disclosure and reporting requirements.

Read more by clicking on the Continue Reading button below.

We have advised National Bank of Greece on the signing of Project Frontier II, a multi-asset securitization of NPEs with a gross book value of c. €1 billion. 95% of the Mezzanine and Junior notes will be sold to investment funds managed by Bracebridge Capital, LLC. National Bank of Greece will retain 100% of the Senior notes, utilizing the provisions of the Hellenic Asset Protection Scheme (”Hercules”) and 5% of the Mezzanine and Junior notes.

The transaction, which received two preliminary credit ratings for the Senior notes, will boost NBG’s total capital by c. 25bps, with the pro-forma 1H.22 Total Capital ratio increasing to 17.5% and decreases net NPEs to €0.4b, near that of European peers.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos,  our Associate Stavroula Simitzi and our Trainee Mariana Gravani.

We are glad to continue working with our client for the completion of this complex and value adding transaction.

For more information: https://www.nbg.gr/-/jssmedia/Files/Group/Press-office/Press-office-releases/R-29-07-22-frontier-en/NBG_Frontier-II_Signing_Press-Release_EN.pdf?rev=82a0893107d64dd39eced97db36f1442

Our firm advised the Joint Coordinators and Bookrunners (Piraeus Bank, Alpha Bank S.A. and Euroxx Securities S.A.) in connection with the bond issuance of €100,000,000, by CPLP Shipping Holdings PLC, with the guarantee of its parent entity, Capital Product Partners L.P., an international shipping company engaged in seaborne transportation of natural gas, containerized goods and dry cargo. The proceeds will be used to either repay debt or/and to finance the acquisition of new vessels and the remainder of such proceeds, if any, will be used to finance working capital needs.

The listing of the bonds in the Athens Exchange on the 27^th of July marks the second successful bond issuance of CPLP within less than a year. The offering received an overly positive response by investors by being over 3.5 times oversubscribed and priced at 4.40%, at the lower end of the interest range.

Our Financial Regulation and Capital Markets team was led by our Partner Alexandra Kondyli assisted by Senior Associate Eleana Rouga and Associate Iliana Ioannou. Our Banking and Finance team was led by our Partner Nikos Fragos assisted by Senior Associate Zisis Papazisis and the Trainee lawyer Georgios Zervakis.

We are proud to have advised Eurobank S.A. and National Bank of Greece S.A. on the issue by Hellenic Open Fiber S.A., a subsidiary of the Nova-Wind group of companies, of a total financing package amounting to EUR 100 million.

This landmark transaction marks the first application of a Greek entity to obtain funding from the Greek Recovery and Resilience Fund (RRF) Co-Financing Framework. The proceeds of the transaction will be used for the acceleration of the deployment of Hellenic Open Fiber’s Fiber-to-the-Home (FTTH) network in Greece, contributing as such to the upgrade of infrastructure networks and connectivity across the country and to the country’s wider digital transformation.

Our team, which was led by our partner Anna Manda, assisted by our senior associate Sonia Saranti, our alumni associate Alexandra Agorastou and our junior associate Nikos Stefas and trainee lawyers George Zervakis and Tina Sofianou, advised the lenders in all stages of the transaction, ie. in respect of the hybrid infrastructure and corporate financing from the banks, as well as in respect of the RRF financing, including in particular in the drafting of the entire package of financing documentation for this model transaction for the Greek Recovery and Resilience Fund’s digital transformation pillar.

Explore our fully updated contribution of the Greek chapter of the Lexology Getting The Deal Through – Initial Public Offerings 2023 guide.

Catherine Karatzas, Partner, Alexandra Kondyli, Partner, Nikos Askotiris, Senior Counsel and Aristides Makripodis, Associate, provide their insights into the regulatory and legal requirements for an initial public offering and listing of securities to take place in Greece.

Read our contribution by clicking on the Continue Reading button below.

Reproduced with permission from Law Business Research Ltd. This article was first published in Lexology GTDT – Initial Public Offerings 2023. For further information, please visit: https://www.lexology.com/gtdt

On Wednesday 13^th July, our four interns had the pleasure of participating in an original K&P moot court competition which was held in our offices. They argued on issues of employment law and freedom of speech.

The scenario was about the mysterious leak of a comedic video filmed by an employee, which goes viral and then becomes a deal-breaker for an important transaction. The employer loses the opportunity to acquire a key asset, the employee is fired, and the question remains: was there an unfair dismissal?

The story was inspired by the Harry Potter movies, which made the experience fun for our youngest K&P members!

We are thrilled to announce that our brand-new Alumni Network, the first alumni network of a Greek law firm, has been launched!

At K&P we owe our success to our people; we highly value our Alumni and therefore pursue a lifetime connection with them.

If you are a K&P Alumni and haven’t registered already in our Network, you may join us here: https://lnkd.in/dP2Q_nU6

Our firm advised NOVAL Property, the 2nd largest REIC in Greece, in the process of its share capital increase by the amount of € 21,346,259 through the in-kind contribution of both real estate properties and shares of companies holding real estate properties, enriching its portfolio with high quality new real estate of various commercial uses.

Our team was led by our Partner Vassiliki Salaka, assisted by our Senior Associate Argiro Vagia and our Associate Maria Asimeli, in cooperation with Deloitte’s Business Tax Services and Financial Advisory Services teams, as tax and financial advisors.

Our Tax team was led by our Partner Georgios Minoudis assisted by our Senior Associate Eleonora Ligoutsikou and our Trainee Lawyer Katerina Stathakarou.

Our firm proudly sponsored the 14th National Conference of Corporate In-house Counsel by NOMIKI BIBLIOTHIKI which took place on June 29th and 30th. During the conference our firm held a workshop “The challenges and opportunities in retaining and developing legal talent in a new era, “Life-work balance”, sense of community and sense of purpose in a law firm and in a corporate legal department”, where οur partners, Catherine Karatzas and Alexandros Metallinos were joined by Antigoni Papanikolaou, Legal & Corporate Affairs Director, Microsoft Hellas S.A. and John Apsouris, Group General Counsel, HELLENIC PETROLEUM Group of Companies for an interesting and more relevant than ever discussion.

You may view the video of our workshop here (available only in Greek): https://lnkd.in/ev73C4s2

Our firm, through its corporate social responsibility program, proudly supports the Ukrainian students at the Aristotle University of Thessaloniki (AUTH).

Today, approximately 100 undergraduate and post-graduate students from Ukraine are enrolled at AUTH. Through our donation, we aim to help them continue their studies by covering part of their living expenses, such as rent and gas.

On Wednesday June 29th, the AUTH organized an information and awareness event where the Rector, Professor Nikolaos Papaioannou, and the members of the Special Support Committee announced the University’s actions in solidarity with the Ukrainian students.

Our aim is to alleviate the humanitarian crisis in Ukraine and support the young Ukrainian students living in our country.

If you also wish to support the AUTH’s initiative, you may contact the Special Support Committee at [email protected].

?: Photopress© Yannis Tsouflidis

We are delighted to be an official contributing firm to this year’s Chambers & Partners Global Practice Guide on Cartels. Our partner Anna Manda, and associates Maria Kallidopoulou and Angeliki Boletsi contributed to the Greek chapter of Cartels Law and Practice.

This stimulating guide covers in Q&A format the basic legal framework in Greece, the procedural framework for cartel enforcement, leniency programs, commitments, dawn raids, sanction and remedies, and civil litigation.

Read our chapter for more expert commentary on Cartels by clicking on the Continue Reading button below.

Our firm has advised, as to matters of Greek law, Power Factors a leader in renewable asset management software, on the acquisition of Inaccess, a leading provider of integrated mission critical software and hardware solutions for renewable power plants, battery energy storage systems, hybrid plants, and virtual power plants (VPPs).

When the transaction is closed, subject to customary closing conditions, Power Factors will expand its customer asset management portfolio to nearly 200 Gigawatts, serving more than 300 customers worldwide, positioning Power Factors as one of the world’s largest renewable energy software companies.

Our team was led by our Managing Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and our trainee lawyers Mariana Gravani, Apostolos Latsonas and Matina Xirogianni. Our employment law team was led by our Senior Counsel Aggeliki Tsatsi, assisted by our trainee lawyer Katerina Basta, whereas our energy law team was led by our Partner VALIA APOSTOLOPOULOU, assisted by our Associate Konstantina Bantavi.

Our firm sponsored the Athens EU State Aid Conference 2022: Key Issues for Greece, which took place on Thursday, June 23rd at the Ioannis Drakopoulos Amphitheater, University of Athens and was organized by the The CIEEL – State Aid Unit and the Hellenic Association for European Law.

Our partner, Alexandros Metallinos presented the State Aid Framework in Support of Renewable Energy Sources, during the Energy & Environment State Aid Panel.

You may watch the conference here: https://lnkd.in/e_UuiJ8Y

Our firm advised PPC Renewables on the acquisition of Volterra RES portfolio of 112 MW.

This landmark and complex acquisition is part of PPC Renewables’s overall strategy to lead in the green energy transition and a major step towards the phasing out of the coal-fired power plants of PPC S.A.

Our firm, which supported PPC Renewables in-house legal and business development teams, was led by our Partner VALIA APOSTOLOPOULOU, assisted by our Associates Anastasia Petta and Konstantina Bantavi, our Senior Associate Alexandros Anagnostopoulos and our Associates Mara Skiada and Maria Asimeli (on real estate issues), our Senior Counsel Aggeliki Tsatsi and Associate Ilia Polyzoidi (both on employment issues), along with our dedicated lawyers Alkmini Basakarou, Associate and our Trainee lawyer Georgios Zervakis in cooperation with PWC deals and tax teams as exclusive financial advisors.

Advancing diversity and inclusion for all is a key part of our DNA. We celebrate PrideMonth and honour our commitment to these values.

This summer, on Fridays we work from…anywhere!

The well-being of our people is very important to us; as an extension to our remote working policy, we offer to our people the possibility of working on Fridays from wherever they wish.

Today we honour the World Blood Donor Day by organising a blood donation in our offices.

We would like to thank our people who embraced this initiative and became volunteer blood donors. Ιf 2% of a country’s population were regular volunteer blood donors this country would cover all its blood needs.

Our firm supported once again the 8th National Moot Court Competition, which was held between May 20-22 in Athens and was organised by ELSA Greece.

At Karatzas & Partners we believe in the new generation of lawyers and thus we strongly support their activities and initiatives.

Our Capital Markets Law Alert is released, providing a briefing on new rules on the cross-border distribution of funds in Greece.

Read more by clicking on the Continue Reading button below.

Our firm is a proud sponsor of the 10th Athens Energy Dialogues “Energy Security Strategies” Conference, which is taking place on May 26-27, at the Athenaeum Intercontinental Athens.
Our partner, Christina Faitakis, will moderate the Energy Financing and Funding panel, on the second day of the Forum.

For more information and registration: https://lnkd.in/eujGnk8J

Our firm has once again been recognised as a Top Tier firm by The Legal500 in the following practice areas: Banking, Finance and Capital Markets, Commercial, Corporate and M&A, Energy, Real Estate & Construction and TMT, and has been recommended in: Dispute resolution, EU and Competition and Projects & Privatisation.

We would like to congratulate our partners Catherine Karatzas and Christina Faitakis,  ranked once again in the “Hall of Fame” and “Leading Individuals”, Alexandros Metallinos and Anna Manda, ranked as “Leading Individuals” and Alexandra Kondyli, ranked as “Next Generation Partner”.

We thank our clients for their continuous trust and feel grateful to our people whose unprecedented resilience and commitment have defined our firm’s reputation:

“Excellent and creative ideas combined with a pragmatic approach that really differentiates them from other legal firms.”

“The quality of the service provided by the firm is second to none and this applies across seniority levels: they have top-quality, extremely knowledgeable and accessible partners, supported by a hardworking, deep bench, resulting in a well-rounded team and robust legal knowledge across all sectors of the Greek economy.”

Our firm had the pleasure of hosting Choose Life and Χάρισε Ζωή, two organisations that fight blood cancer by raising awareness and increasing the global bone marrow registry. Our people embraced this initiative and their enthusiasm to become volunteer bone marrow donors made us very proud.

Visit Choose Life and Χάρισε Ζωή to find out how to become a bone marrow donor:

https://lnkd.in/ddrpCc-W

https://www.xarisezoi.gr/

Watch our video here: https://www.youtube.com/watch?v=RUtrLgxVDIA&t=9s

Our firm is a proud sponsor of the 1st Real Estate Law conference which is taking place on Friday 13th May and is organised by NOMIKI BIBLIOTHIKI. Our Senior Associate Eleonora Ligoutsikou is participating in the panel “Aspects of the tax treatment reserved for real estate properties, with reference to the special real estate tax and the various investment tools currently available.”

Eleonora will be presenting the tax incentives for investments in real estate within the Strategic Investments environment (pursuant to the new law 4864/2021).

To view the conference agenda: https://www.nb.org/1o-syn-dikaou-tou-xwrou.html

Our firm advised Ideal Holdings S.A. on the signing of the SPA for the acquisition of 100% of Netbull IT Services Ltd through its subsidiary ADACOM Cyber Security S.A. and for an agreed consideration of €6.3 million.

Netbull was founded in 2013 and provides cybersecurity services with emphasis on Incident Response and Cyber Security Incident Monitoring & Prevention services, through a – Security Center (SOC- Security Operation Center) that uses artificial intelligence and machine learning technologies.

Our team was led by our partner Nikos Fragos and was mainly assisted by Georgios Zervakis, trainee lawyer, Angela Boletsi, associate and Pinelopi Anyfanti, trainee lawyer. Our senior counsel Aggeliki Tsatsi advised on all relevant employment matters.

We’re delighted to announce that our firm has won the award for Law Firm of the Year in Greece, at the Chambers Awards 2022, which were held on Friday, 22^nd of April in Madrid.

According to Chambers & Partners, “Karatzas & Partners is a transaction powerhouse, acting for high-profile clients on the most complex mandates in the Greek market, while its clients enthuse their significantly high level of service in terms of response time, business acumen, industry knowledge, appropriateness of advice, strength-in-depth of team and value for money. The depth and breadth of its partners’ knowledge ensures that it is able to support every client’s business needs successfully and provide high-quality, innovative legal solutions.”

Our Managing Partner, Catherine Karatzas, commented “We feel proud and grateful for winning once again the Award for Law Firm of the Year in Greece; It always fills us with honor and a sense of responsibility towards our valuable clients and their continuous trust. But mostly towards our people, whose remarkable efforts have made this unique achievement possible. We’re looking ahead towards new challenges to overcome and new goals to achieve”.

The Chambers Awards recognise a law firm’s pre-eminence in key jurisdictions in the region. They also reflect achievements over the past 12 months including outstanding work, impressive strategic growth and excellence in client service. They honor the work of national and international law firms across the continent based on the research for the recent edition of Chambers Europe.

Last week we had the pleasure of hosting the Make-A-Wish Greece Easter Bazaar. The K&P team, along with our neighbours at The Orbit, embraced this initiative and had a chance to actively support Make-A-Wish Greece by purchasing Easter gifts for friends and loved ones.

To learn more about Make-A-Wish Greece and their important cause visit: https://makeawish.gr/en/

Our energy partners, Christina Faitakis and Valia Apostolopoulou participated in the Renewable Greece 2022 Conference which will took place on April 14-15 at the Divani Caravel Hotel, in Athens and was organised by The Voice of Renewables. Christina Faitakis chaired the “Financing Greek renewable energy projects” panel discussion, while Valia Apostolopoulou moderated the “Developing offshore wind farms in Greek waters – potential, options, bottlenecks” panel discussion.

It is with great pleasure to announce that our Managing Partner, Catherine Karatzas and our Partner, Christina Faitakis have been once again named IFLR1000 Women Leaders in Europe Middle East and Africa for 2022.

The IFLR’s Women Leaders are selected as the most prominent female lawyers in their jurisdictions and respective practices. It is an elite group of lawyers with outstanding reputation within their markets who either have expertise and experience of
working on complex deals, or who have risen to hold leadership roles with their firms or their practices.

For more information: https://lnkd.in/d5ixnr_n

Catherine Karatzas, our Managing Partner noted at the Delphi Economic Forum VII

“There has been quite some investment momentum built around Greece recently and it’s important to maintain that. In addition to ensuring predictability and legal certainty, we must be proactive in creating an investor-friendly environment that fosters innovation. Regulatory sandboxes that allow firms and regulators to test ideas and collaboratively develop the appropriate legal framework have proven to be very powerful tools in this regard”

Catherine Karatzas participated in the panel “Investing in Greece: Prospects and Challenges”. You may view the video by visiting the following link (available only in Greek): https://lnkd.in/dukbQKJ7

We are proud to announce that we have advised, as Greek legal counsel, the National Bank of Greece (NBG) in relation to the completion of the divestment of 90.01% of Ethniki Insurance to CVC Capital Partners’ Fund VII (CVC), through the transfer of all of the shares of Ethniki to a newly established subsidiary of CVC (Ethniki Holdings S.à r.l.) and NBG’s purchase of 9.99% of the shares in this new entity.
Our advice included assistance of NBG and Ethniki in relation to the merger control clearance by the European Commission, which included an in-depth analysis of potential vertical concentration effects (foreclosure of rival insurers and/or hospitals) and which led to the unconditional clearance of the transaction on 23 February 2022.

The successful completion of this transaction allows NBG to satisfy its last commitment under the restructuring plan agreed between the Hellenic Republic and the European Commission (DG Competition) following the receipt of state aid by NBG in 2012. Moreover, the transaction is expected to be capital accretive for NBG by approx. 90 bps in the Total Capital Ratio as of 31.12.2021.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Nikos Askotiris, our Senior Associate Vassilis Goulielmos and our Associate Aris – Nikolaos Papadopoulos. Our competition law team was led by our Partner Anna Manda, assisted by our Associates Marina- Sofia Chronaki and Gina Goudoulia.

We’re delighted to announce that our firm has been once again recognised as a Top Ranked firm in Chambers and Partners Europe 2022 ranking guide.

Our Managing Partner, Catherine Karatzas, is named for a second consecutive year as “Eminent Practitioner” and our Deputy Managing Partner Alexandros Metallinos, as a “Star Individual”. Our partners Christina Faitakis, Head of our Energy department, Vassiliki Salaka, Head of our Real Estate dpt. and Anna Manda, Head of our TMT dpt. have been ranked in Band 1, while our partners Alexandra Kondyli and Nikos Fragos have been ranked in Banking & Finance and Georgios Minoudis in Corporate/Commercial practice areas.

We would like to thank once again our clients for their ongoing trust and support and reiterate our commitment to maintain the high level of services that they are used to.
We would also like to express our gratitude to our people whose hard work and resilience are an integral part of our success.

Our firm strongly believes that the world around us can change for the better through action.
In this spirit, in 2021 Karatzas & Partners supported causes and foundations that advocate for a better world.

More specifically:

Chatzikiriakeio Foundation of Child Protection

We made sure that the girls, supported by Chatzikiriakeio, and their families enjoyed a warm Christmas dinner. Moreover, we undertook the role of Santa by offering the girls that remained at the foundation the Christmas gifts that they wished for.

ELEPAP – Rehabilitation for the Disabled

We offered to our people Christmas gifts from ARTemeis, the art workshop of ELEPAP hosting creations and generating job opportunities for Disabled People.

Choose Life 

Choose Life is a non-profit association that supports patients and their families while they navigate the challenges of leukemia and other blood-related illnesses. Our firm participated in their Virtual Run, from May 27^th to June 14^th 2021, to spread awareness and highlight the importance of giving.

Alma Zois

For the 3rd consecutive year, we supported the cause of the Hellenic Association of Women with Breast Cancer, Alma Zois. Our people, along with their families and friends, participated in the Digital Race for the Cure and helped raise money and awareness for breast cancer research.

18 ANO’s unit for mothers in rehabilitation – Greek National Nursery (Ethniko Nipiotrofeio) – SOS Children’s Villages Greece

During Easter 2021, our people took on the role of “godmothers” and “godfathers” by gifting shoes to the children of these 3 non-profit organizations.

Child Care Service “Anarrotirio Pentelis”

In response to the ongoing needs of the “Anarrotirio Pentelis”, we supported them by providing them with clothes and medical equipment for newborns and children up to 4 years old.

Ena Paidi – Enas Kosmos

We assisted families supported by Ena Paidi-Enas Kosmos by offering furniture and heating devices. Moreover, during Christmas 2021 our people became Santa’s elves and bought gifts for the children supported by the organization.

Red Cross Greece

We facilitated the operations of the Greek branch of Red Cross by donating office equipment.

To Ergastiri-Lilian Voudouri

We offered to our people traditional Christmas sweets, produced by persons with intellectual disability that work in the organisation’s confectionery shop.

Moreover, our firm supported once again the new generation of lawyers through:

Εlsa Athens 

We invested in the future of Law by sponsoring ELSA Athens’ Summer School on International Investment Law 2021.

Our commitment for 2022 is to continue giving back to our community and working towards creating a more just society for all!

Our firm is the exclusive contributor of the Greek chapter of the Lexology Getting The Deal Through – Initial Public Offerings 2022 guide.

The authors of the chapter, Catherine Karatzas, Partner, Alexandra Kondyli, Partner, Nikos Askotiris, Senior Counsel and Aristides Makripodis, Associate, provide their insights into the regulatory framework for the admission to listing and trading of shares on the Athens Exchange and public offerings in Greece, including corporate governance requirements and issues to be considered by foreign issuers.

Read our contribution by clicking on the Continue Reading button below.

Our firm proudly sponsored the 2nd Energy Law Conference which  took  place on Wednesday 16th March and was organized by NOMIKI BIBLIOTHIKI . Our partner, Alexandros Metallinos  joined the more relevant than ever “Energy crisis” roundtable by presenting the “Hedging transactions in energy markets”.

This year our firm chose to honor the International Women’s Day by donating to Diotima Centre, a non-profit organization which provides a series of services aimed at supporting and empowering women. More specifically, our firm is contributing to the organization’s program of legal aid for low-income women survivors of gender-based violence, who don’t have access to information and legal support.

No woman alone. Together for women!

We are proud to announce that we assisted PPC S.A. in the completion of the sale of 49% in the shares of ΔΕΔΔΗΕ Α.Ε. HEDNO S.A., its subsidiary owning and operating the electricity distribution network to Macquarie Asset Management.

The transaction which also involved the corporate transformation of the PPC group through the transfer of the ownership of the distribution assets together with the related debt to HEDNO, is transformative of the Greek electricity market, at a time when the energy transition and the electrification of transport and heating lead to enhanced needs for investment in the electricity distribution network.

Our firm advised the Joint Coordinators and Bookrunners (Piraeus Bank, Alpha Bank S.A., and Euroxx Securities S.A.) in connection with bond issuance of €100,000,000 by Safe Bulkers PLC, with the guarantee of its parent company, Safe Bulkers Inc., an international shipping company engaged in seaborne transportation of a wide range of dry bulk cargo, including iron ores, coal, cereals, as well as other raw materials. The proceeds will be primarily used for the expansion of its fleet, currently consisting of 39 vessels, by acquisition of 4 dry bulk cargo vessels.

Safe Bulkers Inc. was the third international shipping company in less than 12 months to launch a bond issuance in the Greek market. The offering received an enthusiastic response from the investors by being nearly two times oversubscribed and priced at 2.95%, at the lower end of the interest rate.

Our financial Regulation and Capital Markets team was led by our Partner Alexandra Kondyli assisted by Senior Associate Eleana Rouga and Associate Iliana Ioannou. Our Banking and Finance team was led by our Partner Nikos Fragos assisted by Senior Associate Zissis Papazissis. Our Partner George Minoudis advised on the Greek tax law matters of the transaction.

Our firm is the exclusive contributor of The Law Reviews – Energy Regulation and Markets Review 10th edition Greek chapter.

Our partner Valia Apostolopoulou and associate Anastasia Petta present the energy regulatory regime in Greece and its impact on the commercial practice, focusing on the most consequential developments in the natural gas and renewable energy sectors, the major licensing requirements, market access restrictions and regulatory enforcement activities in a constantly developing energy market.

The chapter can be found here: https://bit.ly/3rJKe0u

Our firm contributed once again to The Economist “Greece Country Commerce guide”, a practical guide to Greece’s business regulations and business practices. Our partners Alexandros Metallinos and Anna Manda provide a thorough analysis of the Intellectual Property and E-commerce in the Greek market.

The report covers 56 countries’ rules in critical areas such as setting up a business, human resources, incentives, taxes, and intellectual property.

For more information:https://store.eiu.com/product/country-commerce/greece

Our firm acts as Greek legal counsel to J.P. Morgan (JPM) in connection with its strategic investment in Viva Wallet, the leading Greek fintech company with offices in 23 European countries.

JPM entered into an agreement with Viva and Viva’s existing shareholders to acquire an ownership stake of approximately 49%, subject to regulatory approvals. This milestone transaction sets the stage for JPM’s payments business to develop future international products and services across European small and midsize businesses. It also signifies confidence in the potential of the Greek fintech industry and is expected to support the growth of Viva through payments innovation.

Viva is the first entirely cloud-based Neobank in Europe, holding a banking and an electronic money institution license in Greece, which is focused on the provision of merchant acquiring services to businesses of all sizes.

Our team is led by our Partner Catherine Karatzas, assisted by our Senior Counsel Nikos Askotiris, our Associates Olga Vinieri, Stavroula Simitzi, Aris – Nikolaos Papadopoulos, Regina Keramida and our Trainees Mariana Gravani and Katerina Stathakarou. In addition, our Partner Georgios Minoudis advises on the tax aspects of the transaction.

Our team also includes Senior Counsel Aggeliki Tsatsi, assisted by Trainee Pinelopi Anyfanti, for employment law issues; our Senior Associate Vassilis Goulielmos, for corporate governance issues; our Senior Associate Sonia Saranti and our Associate Georgia Perivolioti for finance issues; our Senior Associate Alexandros Anagnostopoulos and our Associate Mara Skiada, for real estate issues; and our Associate Angela Boletsi, for GDPR issues.

Our firm has advised Eni on the acquisition, through Eni gas e luce (which will become Plenitude this year), of a PV portfolio of approximately 800 MW in Greece under development by the Greek company Solar Konzept Greece (SKGR). SKGR’s shares were sold by solar-konzept International GmbH International, whose majority stake is owned by Aquila Capital, a sustainable investment and asset development company, based in Hamburg, Germany.

This acquisition is part of Eni’s plan to grow renewable capacity in Greece together with vertically integrated activities in the power retail business.

Our firm, which was supported by Eni’s in-house legal and M&A team, was led by our Partner Valia Apostolopoulou, assisted by our Associates Konstantina Bantavi and Anastasia Petta, our Senior Associate Argyro Vagia and Associate Alkmini Basakarou (both on real estate issues) and our Trainee Lawyers Nikos Stefas, Matina Xirogianni & Tina Sofianou in cooperation with Allen & Overy team which was led by Italy Corporate Partner Paolo Ghiglione, with support from Associate Davide Biasotti and Trainee Matteo Bortolamai.

We have advised HELLENIC PETROLEUM Group of Companies one of the leading energy groups in South East Europe, with activities spanning across the energy value chain and presence in 6 countries, in relation to its corporate transformation plan, which entails a hive-down of its refining operations, oil trading and petrochemicals sectors to a newly established company aiming to diversify its activities, redefine its ESG strategy, and develop its renewables business shifting to a Green Energy era.

The total book value of the hived-down sector assets and liabilities exceeds 5.1 billion euros and is one of the largest corporate transformations in Greece. The hived-down sector includes, among others, the refineries in Aspropyrgos, Elefsina and Thessaloniki, which account for approximately 65% of the country’s total refining capacity and combine a storage capacity for crude oil and petroleum products of 6.65 million m3, as well as other land plots and auxiliary facilities in Piraeus, Elefsina, Mandra, Megara, Thessaloniki & Crete, the relevant real rights on pipelines, as well as photovoltaic facilities in Aspropyrgos and Thessaloniki.

In parallel, we have advised HELLENIC PETROLEUM Group of Companies in relation to the adoption of the new corporate governance law (law 4706/2020) and the overall structural amendments and overhaul of its corporate governance across the HELPE Group.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos, and our Associate Olga Vinieri. Our Real Estate team was led by our Partner Vassiliki Salaka, assisted by our Senior Associates Athena Economou and Argyro Vagia, and our Associates Pantelis Zalokostas, Mara Skiada, Vassiliki Nikolaou and Christina Zevla. Our Labour Law team was led by our Senior Counsel Aggeliki Tsatsi.

Our firm advised Black Sea Trade & Development Bank (BSTDB) on the granting of an up to €90.5m loan to Energean Oil and Gas S.A. guaranteed by the Hellenic Republic up to 90% of the outstanding principal of the loan, so as to accelerate the development of Energean’s development of the Epsilon and Prinos fields and the structural expenditures in the Prinos infrastructure complex.

The transaction has been approved by the European Commission under the State Aid temporary framework, aiming to support Energean Oil and Gas S.A. in the context of the coronavirus outbreak.

Our team was led by our Partner Valia Apostolopoulou, assisted by our Senior Associate Zissis Papazissis, Associate Konstantina Chiotis and Trainee Lawyer Georgios Zervakis.

Another successful year for our firm comes to an end and we are very proud to have participated in some of the most significant deals and cutting-edge transactions in the Greek market.

We would like to express our appreciation to our clients for their trust and for making these achievements possible. We look forward to continuing serving and supporting them in their future business plans.

Moreover, we are grateful to our lawyers and staff for their commitment and selfless efforts. Their resilience, solidarity, and passion for their work have been an inspiration for yet another challenging year.

We wish you all a happier, sustainable, and hopefully Covid-free 2022!

We have advised National Bank of Greece on the completion of Project Frontier, which involves the securitization of a portfolio of non-performing exposures (“NPE”) with a total gross book value of c€6b, following the receipt of all necessary approvals, including the provision of the State guarantee on the Senior notes, under the Hellenic Asset Protection Scheme (“HAPS”).

Project Frontier is a landmark transaction (i) having received two credit ratings, (ii) not being associated with a hive-down and (iii) not being serviced by a servicer not arising from a carve from the bank itself. Frontier also constitutes a unique transaction in Greece from a capital perspective adding c.1.5ppts to NBG’s capital ratios and is a decisive step for NBG to soon deliver a mid-single digit NPE ratio.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and Associates Stavroula Simitzi, Georgia Perivolioti and Anastasia Mourmouti, whereas our Senior Counsel Aggeliki Tsatsi advised on certain employment law aspects.

We have advised National Bank of Greece on the signing of a definitive agreement to form a Joint Venture partnership with EVO Payments, Inc., a leading payment technology and services provider for its Merchant Acquiring Business.
NBG’s Merchant Acquiring Business will form the basis of a new company and EVO will acquire 51% of its share capital for a cash consideration of €158m, valuing NBG’s Merchant Acquiring Business at €310m.

In addition, there will be a long-term exclusive distribution agreement where NBG will offer to its merchants the market-leading, card acceptance solutions of NewCo, through the proprietary products and processing platforms of EVO. It is significant that all transaction documents are governed by Greek law.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and Associate Aris – Nikolaos Papadopoulos.

Our warmest wishes for a wonderful holiday season! May your 2022 be memorable and full of happy moments!

Click below to view our Christmas card !

Being the first law firm in Greece which was certified under  ISO27001 : Information Security Management System, we are pleased to announce that as of today we are the first Greek law firm which has been certified under ISO27701 : Privacy Information Management System, a data privacy extension to ISO 27001 for privacy information management systems certification.

This is an achievement which ascertains our commitment towards protecting efficiently the confidentiality, integrity and availability of our clients’ and our people’s data at all times.

Introduction:

On 01 December 2021, the Independent Authority for Public Revenues (hereinafter referred to as “IAPR”) issued guidance note No. Ε.2224/2021. The recently-published circular specifies the meaning of a “newly-created” employment position filled by an individual relocating their tax residence to Greece, clarifies that shareholders and managers of li private limited liability companies, as well as representatives and partners of partnerships may be subject to this favourable tax regime, clarifies the process of withholding income tax and the special solidarity levy from the individuals subject to the regime and adds to the procedural requirements of the application.

Read more by clicking on the Continue Reading button below.

Our firm advises Eurobank on the sale of 80% of its merchant acquiring business to Worldline. The 100% of the business currently managing payments for 123,000 merchants with over €7 billion value of transactions was valued at €320 million. The strategic partnership between Eurobank and Worldline pursues to benefit Eurobank’s customers and the market through the combination of Worldline’s global scale, best-in-class technologies and expertise with Eurobank’s strong distribution network.

The transaction is expected to boost Eurobank’s Group CET 1 ratio by ca. 80 bps (based on Q3 2021 ratios).

Our team was led by our Partner Alexandros Metallinos, assisted by our Senior Associate Eleana Rouga and Associate Aristides Makripodis. Our Partner Anna Manda and Associate Angela Boletsi advised on competition law aspects of the Transaction.

We are glad to continue working with our client for the completion of this challenging and value-adding Transaction.

Our firm advised the Lead Underwriters, National Bank of Greece and Piraeus Bank, in the successful public offer and listing of the common bond loan issued by NOVAL Property, the 2nd largest REIC in Greece.

The issuance amounts at €120 million in total and was oversubscribed by 2.8 times.

Our Capital Markets team was led by our Partner Alexandra Kondyli assisted by our Senior Associate Maria Chronaki, including our Associates Aspa Pergamineli and Aristides Makripodis. Our Banking and Finance team was led by our Partner Nikos Fragos assisted by our Senior Associate Zisis Papazisis. Our Real Estate Group was led by our Partner Vassiliki Salaka, assisted by our Senior Associate Argiro Vagia. Our Tax team was led by our Partner Georgios Minoudis.

Our firm is the exclusive contributor of the Greek chapter of the Lexology Getting The Deal Through Private Mergers & Acquisitions 2022 guide.

The authors of the chapter Catherine Karatzas, Partner, Anna Manda, Partner and Olga Vinieri, Associate provide their insights into the legal framework for Private M&A in Greece, including structural considerations, filing and consent requirements, minority squeeze-outs and other special considerations.

Read our contribution by clicking on the Continue Reading button below.

Our firm has advised the largest electric power producer and supplier in Greece, PPC S.A. (or “DEI”) in connection with its share capital increase, which generated gross proceeds of €1.35 billion, through the non-preemptive issue and combined offering – internationally and in Greece – of 150 million new ordinary, voting shares at an offer price of €9.00 per new share (with nominal value of €2.48).

The combined offering was oversubscribed, and this milestone transaction is expected to accelerate the transformation plan of PPC, including investments in renewables, and facilitate the energy transition in Greece. The trading of the new shares on the Main Market of the Athens Exchange Group (ATHEX) commenced on November 16, 2021.

Our Financial Regulation and Capital Markets team was led by our Partners Catherine Karatzas and Alexandra Kondyli and included our Senior Counsel Nikos Askotiris, Senior Associate Sonia Saranti, member of the Banking and Finance team of our firm and Associates Iliana Ioannou, Aristides Makripodis and Aspasia Pergamineli. Our Energy Regulation team was led by our Partner Alexandros Metallinos, assisted by Associate Anastasia Petta.

We are advising BC Partners in the acquisition of PET CITY SA, the leading Greek pet retailer, through BC Partners GR Investment, a special purpose fund aimed at investing in and supporting high-growth small and medium-sized companies in Greece.

The deal marks the first such acquisition for the fund and the latest acquisition of BC Partners in the pet sector, following the acquisition of US group PetSmart in 2015 and Chewy in 2017. BC Partners also owns VetPartners, the UK’s largest operator of vet clinics. Founded in 1988, Pet City has grown as a family-owned business to serving around 3 million customers in Greece. The founding family will retain a minority share in the company. The transaction is subject to the receipt of the relevant regulatory clearances.

Our team is led by our Partner Anna Manda assisted by our Associate Marina- Sofia Chronaki and includes our Associates Regina Keramida, Maria Asimeli and Christina Zevla as well as Angela Boletsi, who assists the team in obtaining merger clearance from the Hellenic Competition Commission (HCC). Senior Counsel Aggeliki Tsatsi and Trainee Pinelopi Anyfanti  reviewed employment law aspects.

Our firm advised the Joint Coordinators and Bookrunners (Piraeus Bank, Alpha Bank S.A. and Euroxx Securities S.A.) in connection with bond issuance of €150,000,000, by CPLP Shipping Holdings PLC, with the guarantee of its parent entity, Capital Product Partners L.P., an international shipping company engaged in seaborne transportation of natural gas, containerized goods and dry cargo. The proceeds will be primarily used for the expansion of its current fleet consisting of 19 high specification vessels with 3 new-built liquefied natural gas (LNG) carriers.

Capital Product Partners L.P. was the second shipping company to launch a bond issuance in Greek market, following Costamare earlier this year. The offering received an overly positive response by investors by being over 5 times oversubscribed and priced at 2.65%, at the lower end of the interest range.

Our Financial Regulation and Capital Markets team was led by our Partner Alexandra Kondyli assisted by Senior Associate Eleana Rouga and Associate Iliana Ioannou. Our Banking and Finance team was led by our Partner Nikos Fragos assisted by Associate Georgia Perivolioti.

Our firm proudly sponsored the 4th Compliance Conference organized by the Association of Compliance Officers in Greece – ASCO Greece & NOMIKI BIBLIOTHIKI, which was held on Friday November 5th. Our Senior Counsel, Nikos Askotiris  participated in the 2nd Session of the conference “Anti-money laundering issues / Sanctions”, at 11:15 (local time), presenting “A short appraisal of the evolution of the AML framework of the European Union, particularly after the entry into force of AML6”.

Below you can watch the video of Nikos’ Askotiris presentation.

Our firm advised EOS Capital Partners and the Tsiknakis family with respect to the sale of an 80% stake in Cosmos Sport SA to JD Sports Fashion plc, one of the world’s leading retailers of sports fashion and outdoor brands. The Tsiknakis Family will remain in the company with a minority stake and will work in partnership with JD for the future development of Cosmos Sport S.A. while EOS Capital have disposed their entire holding.

Under the guidance of the new majority shareholder and with the presence of members of the Tsiknakis Family in key management positions, the Company will have the opportunity to further expand its business in Greece and abroad.

Our team was led by our Partner Alexandros Metallinos , assisted by our Senior Associate Vassilis Goulielmos and Trainee Matina Xirogianni. Our Senior Counsel Aggeliki Tsatsi advised on certain employment law aspects and Marina- Sofia Chronaki and Gina Goudoulia, Associates, supported the team on competition law issues.

As of the 25th of October 2021 our offices moved to “The Orbit”, 115 Kifissias Ave., 115 24 Athens, Greece.
Our phone numbers and emails remain unchanged.

We have advised National Bank of Greece on the signing of Project Frontier, a milestone multi-asset securitization of NPEs with a gross book value of c. €6 billion. 95% of the Mezzanine and Junior notes will be sold to a consortium consisting of affiliates of Bain Capital Credit, Fortress Investment Group and doValue Greece and National Bank of Greece will retain 100% of the Senior notes, utilizing the provisions of the Hellenic Asset Protection Scheme (”Hercules”), and 5% of the Mezzanine and Junior notes. It is the first transaction of such magnitude, which does not entail the spin-off of the internal NPL servicing unit.

The transaction will boost NBG’s total capital by c150bps, with the pro-forma 1H.21 Total Capital ratio increasing to 18.5%, while the NPE ratio on the same date stands at 12.7%. The positive capital impact of the transaction, made possible among others due to its structural and legal novelties, allowed NBG to be the first among the Greek systemic banks which did not follow the hive-down of its banking operations model.

Our team was led by our Partner Catherine Karatzas, assisted by our Senior Counsel Christos Paraskevopoulos and Associates Stavroula Simitzi, Georgia Perivolioti and Anastasia Mourmouti, whereas our Senior Counsel Aggeliki Tsatsi advised on certain employment law aspects.

We are glad to continue working with our client for the completion of this complex and value adding transaction.

Our firm acted for Netcompany, a Danish next generation IT services company delivering mission-critical strategic IT solutions, on all Greek law matters relating to the acquisition of INTRASOFT International, a leading European IT solutions and services group with strong international presence and expertise. The landmark transaction is one of the largest in the IT sector in 2021 across Europe.

We thank all the K&P team for their significant work on this this transaction.

We have advised Eurobank and Eurobank Ergasias Services and Holdings SA in the signing of Project Mexico. Project Mexico entails a milestone multi-asset securitization of NPEs with a gross book value of c. €3.2 billion, aiming at reducing the NPE ratio of Eurobank to a single digit number.

The transaction is expected to complete in the Q4-2021 and will further involve the sale of the notes issued in the context of the securitization and the assignment of the management of the securitized receivables to doValue Greece, whereas its corporate law aspect involves the share capital decrease in kind of Eurobank SA.

The securitization part of the transaction involved the combination of pioneer parameters maximizing its value for the parties involved, whereas it is expected to also benefit from the Greek asset protection scheme (HAPS).

Our team was led by our Partner Alexandros Metallinos, assisted by our Senior Associate Sonia Saranti, Associates Fereniki Tsitsirigkou and Alexandra Agorastou and we are glad to continue working with our client for the completion of this complex and value adding transaction.

For the 3rd consecutive year, we supported the cause of the Hellenic Association of Women with Breast Cancer, Alma Zois. Our people with their families and friends ran/walked in the Digital Race for Cure and helped raise money and awareness for breast cancer research.

A small contribution from us to all of you fighting your battle! You are not alone!

“Our firm fosters a working environment based on meritocracy, trustful relationships and commitment, which encourages young lawyers to take initiative and pursue their personal development, while enjoying the benefits of teamwork.”

Christos Paraskevopoulos, Maria Chronaki, Georgia Vathi & Stavroula Simitzi share their insights in The IFLR Change Makers 2021, a platform where young lawyers from IFLR1000 ranked firms share their perspective on the transformation of the legal industry.

Read the full interview by clicking https://lnkd.in/dgbPprFY

Our firm proudly sponsored the 5th International Conference on Competition Law & Policy “With Challenge comes Change”, which was held  Wednesday 6th and Thursday 7th of October and was organized by NOMIKI BIBLIOTHIKI.

Our partner Anna Manda  participated in the Parallel Breakout session of “Energy Sector & Competition Law” on Thursday October 7th at 13:15 (local time).

For more information:  https://bit.ly/3miKgYX

Our firm is the exclusive contributor of the Greek chapter in Chambers and Partners Corporate Governance 2021 Global practice guide.

Catherine Karatzas Managing Partner, Alexandra Kondyli Partner, Maria Chronaki and Eleana Rouga Senior Associates

provide an overview of the Greek corporate governance framework and the relevant disclosure and reporting requirements.

Read more by clicking on the Continue Reading button below.

We are proud to participate in the two largest privatizations to date and pivotal deals for the energy sector in Greece: the sale of DEPA Infrastructure S.A. and the disposal of 49% of the Hellenic Electricity Distribution Network Operator SA (HEDNO).

A team led by Christina Faitakis represents Italgas, the leading Italian gas distributor, who, following an offer of 733 million euro, has been selected as “Preferred Bidder” in the tender process for the acquisition of 100% of the share capital of DEPA Infrastructure S.A.

Alexandros Metallinos is leading the team that advises PPC S.A. the Greek state-owned energy company, for the disposal of up to 49% of the shares of HEDNO S.A., a process in which the Australian fund Macquarie Group was declared the highest bidder. Macquarie offered a purchase price of 2.116 billion euros making the sale of the 49% of HEDNO S.A. the largest privatization of the recent years.

We look forward to a successful completion of both transactions!

Our firm advised Autohellas, owner of the largest private fleet of vehicles, with more than 48,000 vehicles and over 140 sales points in Greece and abroad, on a EUR 180 million financing transaction with JPMorgan Chase by securitizing long-term lease receivables. The transaction was as a sequence of the “pioneer” 2018 securitization with EIB, EIF, EBRD and KFW, which was an innovative securitization of receivables not originated by a credit institution in Greece.

The 2021 transaction is double the size of the 2018 securitization and marked the beginning of co-operation between Autohellas and JPMorgan Chase.

K&P team was led by our Partner Christina Faitakis, assisted by our Senior Associates Sonia Saranti ,Georgia Vathi and Associate Anastasia Mourmouti.

For more information: https://lnkd.in/d2gC-vax

Our firm once again shows its support to the new generation lawyers and proudly supported ELSA Athens and the Summer Law School on International Investment Law 2021.

The Summer Law School is co-organized annually since 2016 by ELSA Athens and the Athens Public International Law Center (Athens PIL) of the School of Law of the National and Kapodistrian University of Athens, under the academic supervision of Dr Anastasios Gourgourinis.

This year it took place in webinar format, as an ELSA Webinars Academy, between August 23 and August 28, 2021, consists of a total of 30 hours of interactive lectures over 6 days and provides participants with all the essential tools to grasp the key aspects of international investment law, while also addressing some of the currently “hottest topics” of the field. The program also features an online interactive workshop conducted under the aegis of ICDR Y&I.

ELSA Athens is a local group of ELSA, the world’s largest independent, non-political and non-profit making law students’ association with 50,000 members in 375 Universities in 44 European countries.