Bernitsas Law advises on the successful placement of a 20% stake in Grivalia Properties REIC
Bernitsas Law acted as Greek law counsel to Eurobank Ergasias SA on the successful placement of its 20% stake in Grivalia Properties REIC to international and domestic institutional investors through an accelerated bookbuilding process at a total consideration of c.€180 million (Placement). The transaction completed on 6 July 2017 with the majority of the shares placed being acquired by Fairfax’s subsidiaries and funds whose investment manager is PIMCO.
Nikos Papachristopoulos led the Bernitsas Law team and Shearman & Sterling acted as international counsel. HSBC Bank plc, AXIA Ventures Group Ltd and Eurobank Equities Investment Firm SA acted as Joint Global Coordinators and Joint Bookrunners.