The firm advises many domestic and international companies on an ongoing basis, such as Vodafone- Panafon, Alpha Bank, Aramco, BAML, Heinz, Deutsche Bank, Hochtief, WPP, Societe General, UBS, JP Morgan, Goldman Sachs, HSBC, Credit Agricole, Morgan Stanley, Intracom, China Three Gorges Corporation, Sunpower, Intralot, Lambrakis Press, Mega Channel, ACNielsen, Bosch Siemens Home Appliances, Fraport, Copelouzos Group.
Privatisations - Restructuring of State Owned Companies:
In one strong year the M&A and projects team provided advice to: the Fraport and Copelouzos consortium on the conclusion of the concession by the HRADF for the exploitation, operation and maintenance of 14 regional airports; the Hellenic Republic Assets Development Fund (HRADF) with respect to the successfully awarded privatization of Hellenic Gas Transmission System Operator (DESFA), as part of the Privatization Programme of 2012-2015; a qualified interested party with respect to the privatization of the Independent Transmission System Operator by PPC.
The firm in 2016, keeping its role in leading transactions, advised: BAML in relation to capital control restrictions imposed on Greek banking system; a syndicate of Greek Systemic Banks on the €400m Stand-By Revolving Facility to the Hellenic Petroleum; a syndicate of the Greek Systemic Banks on the €67m Secured Bond Loan to Terna Energy ; Antenna, a leading TV Channel, on its €162m Secured Bond Loan by four Greek systemic banks.
The firm advised Alpha Bank on its €2.55b share capital increase, involving a €1bn LME of senior, subordinated and hybrid notes; JPMorgan and Citigroup on the €250m High Yield Bond to Wind Hellas Group; Alpha Bank on its accelerated book building offering of approx. 5% of Titan SA; the Arrangers (Credit Suisse, Eurobank, HSBC, Alpha Bank and Piraeus) on €500m tender offer and combined issuance of €375m new Eurobond by the Hellenic Petroleum.
The M&A team advised Alpha Bank on the €142m sale of 97.8% of (listed) Ionian SA, owner of Hilton Athens; R&R Ice Cream on its joint venture with Nestle in relation to the merger of their ice cream business in Europe, Middle East and North Africa (EMENA); Alpha Bank on the transfer of its 85 branches in Bulgaria to Postbank, a subsidiary of Eurobank; Jumbo S.A., one of the major listed entities of the Athens Exchange, in its merger with Tanosirian S.A.; and Olympic Brewery regarding its merger with Mythos Brewery (subsidiary of Carsberg) to create the second larger beer producer in Greece.
The firm has been involved in all major project finance in Greece including: Athens Airport, Attica Toll road, Rio-Antirio Bridge. The Firm advises the Fraport - Copelouzos Consortium on the €1.2bn Project Finance of exploitation, operation and maintenance of 14 regional airports; The Firm advised on the €1.3b Project Reset and Debt Restructuring the Aegean Motorway Group, a consortium led by Hochtief and awarded the concession of the PATHE - new toll road Maliakos - Kleidi; a Syndicate of Greek Banks, and HSBC on €90m project financing the acquisition by Lamda Domi of the right to use the International Broadcasting Center in which the leading Greek shopping center has been developed (Golden Hall).
Arbitrations & Litigations:
The firm has been involved in high profile cases such as advice on the implementation of provisional measures on behalf of a Cypriot bank against major Greek entrepreneurs (the worldwide injunction was for €3,79b); arbitration between a major construction company and an oil refinery with total claims exceeding €150m; over €50m litigation and arbitration between Greek energy producer and major equipment supplier; defending before the Greek courts a motorway Concessionaire for claims exceeding €20m; arbitration between a Concessionaire and the Greek State on a dispute over €45m; technical arbitration between Constructor and the Greek State with potential value over €100m; representing a major real estate firm in litigation concerning land ownership with an amount in €200m dispute, a French constructor on ICC arbitration involving cost escalation and various major suppliers in the IT and the pharmaceutical industries in multimillion public procurements and respective litigation.
The firms’ tax department advised on the tax aspects of most of the banking, finance and securities and M&A transactions. Including advice to: Alpha Bank on its €2.55b share capital increase and LME; Alpha Bank on the sale and transfer of 97.8% of (listed) Hilton Hellas; Alpha Bank on the acquisition of the Citibank Greek retail banking and credit card business; Hochtief AG on the disinvestment from the Athens International Airport.
Key transactions were the privatisations of the Public Gas Corporation (eventually aborted), the successfully awarded privatisation of DESFA and the ongoing privatisation of the Independent Power Transmission Operator. In addition, the firm offers services to major players of the energy industry, such as the China Three Gorges Corporation, Sunpower (a listed subsidiary of Total), Gamesa and Suzlon, the China Development Bank (on the financing of energy projects).
EU & Greek Competition:
The practice covers all aspects of EU and Greek competition law, including state aid and competition cases (before the Hellenic and the European Competition Commission, and before courts). Examples of recent work include advice to: a major construction company on the construction companies cartel case before the Hellenic Competition Commission, a case including a list of forty in total local and international construction companies; a pharmaceutical company in a concerted practice investigation before the Hellenic Competition Commission; Alpha Bank on merger control (acquisition of Citibank’s retail business in Greece) and state aid issues (restructuring plan); Fraport/ Copelouzos consortium in the privatisation tender for Greek regional airports; Vodafone in its network sharing agreement with Wind Hellas; the Hellenic Republic on the restructuring of the Hellenic Defence Systems (state aid).
The firm advises the Vodafone-Panafon SA, one of the leading Greek provider of mobile telecommunication services in Greece; Intracom group manufacturing telecommunications equipment and providing various telecommunication services