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Our practice has advised participants in many of the high value and innovative corporate public and private sector transactions to have taken place in Greece.

always efficient, reliable and provide business-oriented legal advice in prompt time ... provides high-quality legal expertise ... able to cover all important practice areas that are relevant in an M&A transaction

Chambers Europe 2021

super responsive, very good quality, meeting international standards, very easy to work with and always approachable … clearly my go to law firm in Greece … commitment and unparalleled knowledge

The IFLR 1000 2021

extensive experience and deep knowledge in corporate and legal matters ... they appreciate their customers and always find ways to support and give feedback, even at very short notice ... valuable and reliable legal advice and are always there when we need them

The Legal 500 EMEA 2020

this law firm has a long-standing presence in the Greek market and a good reputation ... their contribution to the deal was significant and they were very effective

Chambers Europe 2020

as always, excellent service and quality of advice ... very responsive, thoughtful and commercial in their response … the collaboration was excellent ... they focus on the business needs of the clients and productively consult them

The IFLR 1000 2020

stands out due to its excellent cross-border skills, which it blends skillfully with its excellent knowledge of local law, regulations and the local market ... experience with the firm is akin to working with a top London firm ... capable of handling large-scale and complex due diligence and major transactions ... can-do lawyers

The Legal 500 EMEA 2019

they have the ability to overcome and resolve any difficulties that an acquisition entails without abating client’s interests … high quality advice within strict deadlines … client oriented, well organized with expert lawyers on several areas and reasonable rates

The IFLR 1000 2020

just excellent: very hands-on, responsive and service-oriented ... all of them are very nice, personable and a pleasure to work with

Chambers Europe 2019

highly professional, expertise offering prompt responses on urgent issues ... in-depth due diligence work, extensive coverage and great connections at a local level ... very fast responses and able to cope with tight time frames ... offers clear and concise advice

The IFLR 1000 2019

We advise global and domestic market leaders, small to medium sized enterprises and entrepreneurs from a range of industries, financing institutions, funds and the State on their corporate and commercial activities, risk mitigation and compliance.

Our team has unparalleled experience in structuring and executing groundbreaking deals in the context of new legislation, market liberalisation and foreign investment.

A significant part of our practice is taken up by the provision of ongoing legal services to clients in relation to the legal issues arising in the course of their day to day business activities, corporate governance, commercial contracts and regulatory compliance, for many of which we have acted for over a decade.

We have also assisted in the drafting of new legislation and advised on matters leading to the development of legal frameworks and believe this experience adds substantially to the value of our service. Our aim is to get to know our clients’ individual requirements to ensure we provide a personalised service which is in line with their goals.

Corporate Advisory & Commercial Agreements

Advising leading small, medium and large local and foreign corporations from all industries on their establishment, management and structure is a core service offering. We take an overall view in assisting clients on the structure, alignment and governance of their companies and groups, transactions, contracts and issues arising in the course of their day to day business. We offer innovative legal solutions to commercial issues faced by our clients and document their activities through commercial agreements designed to offer protection while allowing business to thrive.

Corporate Restructurings

We advise on company and group restructurings with a view to improving tax and operational efficiency. We also have experience representing all types of stakeholders in managing the risks associated with distressed situations and the methods available to address this and avoid insolvency procedures. Our team is highly experienced in cross-border restructurings, mergers & acquisitions of distressed companies or their assets, and investigations.

Mergers & Acquisitions

We advise on mergers, acquisitions and takeovers of public and private companies, as well as transfers of businesses and assets, many with a cross-border element. We represent all types of market participants including acquirers, financial advisors and various stakeholders, and have often drafted documentation to cover groundbreaking transaction structures. We work closely with our EU, Competition & Antitrust, Capital Markets, Labour Law and Tax Departments to provide an integrated, cross-practice service.

Risk & Compliance

Many of our clients, most of which we act for on an ongoing basis, operate in heavily regulated industries such as banking, insurance, pharmaceuticals, telecoms, aquaculture, energy, chemicals and technology. We recognise the importance of risk management and believe in keeping one step ahead of developments in compliance requirements. We combine our knowledge of the law and industries to identify potential challenges or opportunities. Our team advises on corporate and financial reporting, compliance related risk and external investigations.

Who to contact

Contact Lambros
Contact Nikos

Recognitions

 

Piraeus Bank Demerger by Hive-Down

We advised Piraeus Bank in connection with the demerger by way of hive-down of its banking activity sector and its contribution into a new banking entity.

Acquisition of a Controlling Stake in Vivartia

Bernitsas Law advise CVC in connection with the acquisition by funds managed or advised by it of a controlling stake in Vivartia Holdings SA (Vivartia).

Sale of Majority Stake in Insurance Sector

We are advising the majority shareholders of an insurance company in the proposed sale of their majority stake in this company to a leading insurance enterprise and advise on complex corporate and regulatory matters.

Establishment of Energy Company

We advised an international energy provider on the establishment of a new legal entity in Greece in the energy sector and continue to advise on tax and corporate issues.

Cosco Shipping Acquisition of 60% Stake in PEARL SA

We advised Cosco, acting through Ocean Rail Logistics SA, in their acquisition of 60% of Piraeus Europe Asia Rail Logistics SA (PEARL).

Acquisition of Minority Stake in Skroutz SA

Bernitsas Law has acted as Greek law counsel to CVC in connection with the acquisition of a strategic minority stake in Skroutz SA, the leading e-commerce platform in Greece, by SAIGA Sàrl, a company invested in by funds managed or advised by CVC.

Acquisition of Marinas

We advised CVC in the successful acquisition through funds advised or managed by it of the Greek, Croatian and United Arab Emirates (UAE) businesses of D-Marin, a leading operator of premium yacht marinas in the Mediterranean and United Arab Emirates (UAE), from the Doğuş Group, a leading Turkish conglomerate.

Pharmaceutical Company Sale of Share Capital

We advised a global market leader in the pharmaceutical industry in the sale of a part of its share capital to an investor to further finance its business activities.

Divestment of Assets

We acted as co-counsels to Andromeda Seafood SL on the c.€55m divestment of assets of the then-to-be-acquired Nireus SA and Selonda SA through a bidding process in compliance with the remedies agreed with the Competition Directorate of the EU Commission to enable completion of the acquisition of Nireus SA and Selonda SA.

Advice to CNP Group of Companies

We advise the local entities of the CNP Group of Companies, including its insurance companies, on a day to day basis, advising on their corporate bookkeeping, regulatory issues, commercial and litigation matters.

Link Group Acquisition of Companies

We advised the Link Group on the Greek leg of their acquisition from Pepper Europe Holdings PTY Limited acting as the principal seller, of entities within the Pepper Group of companies established in European countries, including England, Cyprus, Spain and Greece, including a licensed NPL servicing company Greek subsidiary.

Advice to Leading Radio Software Group

We advised a leading radio software group of companies on their restructuring and the establishment of a new branch in Greece as well as the transfer of the business from a Greek entity of the group to the newly established branch and continue to advise them on corporate issues.

Advice to Kosmocar

We advise Kosmocar SA, the official importer of VW, Audi and Skoda to Greece, on an ongoing basis in relation to their corporate governance, regulatory, commercial and labour issues.

Sale of Independent Portfolio Management

We advised Alvarez & Marsal in the sale of a majority stake in A&M’s local regulated loan servicing company, Independent Portfolio Management S.A.S.R.L.C.F (IPM) to Copernicus, an independent global loan and REO Asset Management platform.

Ellaktor Merger by Absorption

We advised Ellaktor, the leading Greek construction company, on its merger by absorption with EL.Tech Anemos, a leader in renewable energy in Greece, both listed companies.

Advice to BMW Group of Companies

We provide legal support to the local entities of the BMW Group of Companies on a day to day basis, including advice on their corporate bookkeeping, regulatory issues, commercial, labour, data protection and litigation matters.

Hipoges Iberia Purchase of Majority Stake in Alsvit

We advised Hipoges Iberia SL with respect to the purchase of a majority stake in the Greek private company Alsvit, one of the top tier local real estate services providers, serving credit institutions, international investors and NPL servicer companies.

Media-Saturn-Holding and Olympia Group Ltd. Joint Venture

We advised Media-Saturn-Holding GmbH and Olympia Group Ltd in the merger of the operations of Media Saturn Electronics Hellas Commercial and Holding AE with Retail World SA to establish a new joint venture company, bringing these two major electronics and electric appliances companies together in the Greek and Cyprus markets.

Rolling Stock Maintenance Company (ROSCO)

We advised HRADF in the €22m privatisation of the Rolling Stock Maintenance Company (ROSCO), the independent company providing maintenance of the rolling stock, through the sale of shares representing 100% of the company’s share capital.

AIG Greece SA Sale of Shares

We advised AIG in the purchase by two entities of the AIG Group of Companies of 100% of AIG Greece SA’s shares from local partners.

Acquisition in Optical Products Sector

We advised a global market leader in optical lenses industry in their c.€6,360m acquisition of a majority stake in a local optical lenses manufacturer.

iHeartMedia Acquisition of Radiojar

We advise RCS Europe Sarl, a company owned by the leading global media entertainment group iHeartMedia, Inc, on day to day issues on an ongoing basis, further to advising on their acquisition of 100% of the share capital of Radiojar Information Technology SA, a cloud-based audio platform in which European Investment Fund and Piraeus Bank participate via the Jeremie Program to support Greece-based entrepreneurs.

 

Samsung Electronics Greece Merger with Innoetics

We advised Samsung Electronics Greece and Innoetics in their merger by absorption.

AIG Global Restructuring

We advised AIG on the Greek leg of the global restructuring of their insurance business as a result of Brexit, including setting up a new branch of AIG Europe SA (AESA) in Greece, de-registering the old branch of AIG Europe Limited (AEL) and advising on local issues related to the transfer of the insurance business from AEL to AIG UK and the cross border merger of AEL into AESA, effective from 1 December 2018, aimed at providing clients with certainty of uninterrupted UK and European insurance coverage as part of AIG’s planned restructure of its European business.

Amerra Capital Management Acquisition of Majority Stakes in Nireus and Selonda

We advised Amerra Capital Management LLC, Mubadala Investment Company PJSC and Andromeda Seafood Sociedad Limitada in the latter’s acquisition of majority stakes in Nireus SA and Selonda SA, two major Greek fish farming companies with vast international activities, from the four Greek systemic banks pursuant to a private transaction and subsequently by Nireus and Selonda’s minority shareholders pursuant to two mandatory tender offers, and through the acquisition of Selonda and a subsequent MTO, 100% of Perseus SA, a Greek company specialising in fish feed production, with a transaction value of over €500m.

Acquisitions of Private Hospital Operators by CVC Affiliates

We advised CVC in connection with the successful acquisition by certain of its special purpose affiliates of all the shares or controlling stakes in each of Hygeia SA, IASO General SA and Metropolitan Hospital Group which are operators of leading Greek private hospitals.

First Data Sale of Card Processing Business

Bernitsas Law advised First Data, a global leader in commerce enabling technology and solutions, in the implementation of the local leg of the sale of their card processing businesses in Central and South Eastern Europe for €150m from SIA.

Forthnet Sale of ForthCRS

We advised Linxx Holding SA in their purchase of a majority stake in ForthCRS SA from Forthnet SA, a major Greek telecommunications provider. ForthCRS SA is a leading software house and service provider in the tourism and travel booking and ticketing sector.

Cyprus Popular Bank (CPB) Sale of Participation in Banks

We acted as lead legal advisors to CPB in relation to the sale of its subsidiaries (banking institutions) in Serbia, Romania, Ukraine and Malta. The transactions are innovative as CPB is under special resolution and all targets were heavily regulated.

Japan Tobacco Acquisition of SEKAP

We advised Japan Tobacco International in their acquisition of Greek Cooperative Cigarette Manufacturing Company SA (SEKAP SA) through a Dutch entity in the context of a major cross border transaction including tobacco companies in Greece and Russia. Japan Tobacco International is a leading global tobacco company, listed on the Nikkei, which operates in over 70 countries and sells its products in more than 120 countries. SEKAP SA is the Greek Tobacco Industry of Xanthi, active in the production, distribution and trade of cigarettes and tobacco products in the Greek as well as the international market.

CYTA Cyprus Sale of CYTA Hellas to Vodafone

Bernitsas Law advised CYTA Cyprus in their sale of CYTA Hellas SA to Vodafone-Panafon Hellenic Telecommunications Co. SA, with a transaction value of €118m.

Acquisition of Strategic Minority in Axel Accessories

We advised DECA Investments AIFM, manager of DIORAMA Investments Sicar SA, a Luxembourg based private equity fund specializing in generalist growth, in their acquisition of a strategic minority shareholding in Axel Accessories SA, a Greek retail and wholesale fashion company.

Acquisition in Chemical Products Sector

We advised the Saint-Gobain group, a globally operating market leader in building materials, in their acquisition of 100% of two chemical products companies, and are currently advising on the merger of the two acquired companies, as well as on the group’s day-to-day corporate, employment and tax matters.

Sealed Air Sale of Diversey Care Division

We advised Sealed Air in the Greek leg of its US$3.2bn global divestment of its Diversey Care division and its food hygiene and cleaning products division to Bain Capital Private Equity.

Astir Palace Vouliagmeni Resort Acquisition

We advised Jermyn Street Real Estate Fund IV LP, a fund managed by AGC Equity Partners, acting through its subsidiary Apollo Investment ΗoldCo (Apollo), in connection with the €400m acquisition of 100% of the Astir Palace Vouliagmeni resort (Astir) by Apollo pursuant to a privatisation transaction with the Hellenic Republic Asset Development Fund (HRADF) and the National Bank of Greece and subsequently a mandatory tender offer made by Apollo to the remaining minority shareholders of Astir.

Sale of TRAINOSE

We advised the Hellenic Republic Asset Development Fund (HRADF) in the €45m privatisation of the National Train Operating Company (TRAINOSE) through the sale of 100% of the company’s share capital to Ferrovie Dello Stato Italiane. TRAINOSE currently is the sole railway transport services provider in Greece and its privatisation was part of the unbundling of the railway sector in the context of the Second Railway Legislative Package enacted by the EU.

Hewlett Packard Separation of Business

We advised Hewlett Packard on the Greek leg of the implementation of the worldwide separation and transfer of the Hewlett Packard infrastructure, software and services businesses from the remaining HP businesses.

Glaxo Smith Kline Global Joint Venture with Novartis

We represented Glaxo Smith Kline in the implementation of the local part of their global joint venture with Novartis, with a matter value of $16bn for the Oncology business and $7.1bn for the Vaccine business, a transaction which had a significant effect on the entire pharmaceutical market and resulted in a major reorganization and integration of the sector.

  • mergers and acquisitions, demergers, corporate restructuring and relocation
  • takeovers
  • the local arm of cross-border transactions
  • the financing aspects of mergers and acquisitions
  • joint ventures
  • the implications and effect of national and European legislation
  • compliance with the regulatory and legislative framework
  • company formation/corporate governance
  • compliance with legal and operational framework governing operation of companies
  • establishment of: corporate vehicles and subsidiaries, branches and representative offices of foreign companies
  • the provision of services by foreign companies in Greece
  • corporate reorganisation, liquidations and insolvency
  • rights and duties of directors and shareholders
  • dividends payments
  • stock option structures and exercise
  • general and tailored made due diligence reports on private and public companies
  • IPO specific due diligence reports
  • memoranda of understanding, joint ventures and shareholders’ agreements
  • commercial contracts including: licensing, leasing, outsourcing, franchising, agency and distribution agreements
  • compliance and enforceability of standard terms and conditions
  • regulatory framework applicable to distance selling and trading over the internet

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