Corporate & M&A

Metropolitan Hospital Group Acquisition

Bernitsas Law advised CVC Capital Partners on the successful acquisition of the Metropolitan Hospital Group (Metropolitan) through a special purpose company controlled by CVC Fund VI. Under the terms of the acquisition, the current management of Metropolitan will remain significant minority shareholders in the Group.

Atlas Merchant Capital Acquisition of Credicom Consumer Finance Bank SA

We advised Atlas Merchant Capital (AMC) in its indirect acquisition of Credicom Consumer Finance Bank SA, a local consumer finance credit institution, and its local car leasing subsidiary, from CA Consumer Finance SA, a subsidiary of Credit Agricole.

Värde Partners Acquisition of Trastor SA

We advised Värde Partners in their acquisition of a controlling stake in Trastor, a Greek listed real estate investment company, by purchasing existing shares in Trastor held by Piraeus Bank and subscribing for new shares in Trastor issued pursuant to a rights issue. The transaction was carried out in the context of Piraeus Bank’s commitments to the Directorate General for Competition of the European Commission to divest from non-core banking activities.

National Bank of Greece Sale of Stake in National Insurance

We are acting as Greek law counsel to National Bank of Greece in connection with their sale of a controlling stake in the leading Greek insurer, National Insurance, pursuant to an international private competitive process, and their entry into a long-term bancassurance agreement.

Cyprus Popular Bank Sale of Participation in Banks

Bernitsas Law is advising Cyprus Popular Bank Public Co LTD in the sale of its participations in banking institutions in South East Europe as part of its divestment strategy. Marfin Bank Serbia and Marfin Bank Ukraine are the first sales achieved. Transactions are currently ongoing in Romania and Malta.

Sale of Eurolife

We advised Eurobank Ergasias (Eurobank) in connection with the structuring and execution of an international competitive private auction process for the sale of 80% of its Greek and Romanian life and non-life insurance operations grouped under Eurolife ERB Insurance Group Holdings (Eurolife), as well as on the negotiation and execution of final transaction documentation with the winning bidder, Fairfax Financial Holdings, against €316m in cash.

The Swatch Group’s Merger of its Local Subsidiaries

We advised The Swatch Group in the merger by absorption of its local subsidiaries, ALKΙONI Société Anonyme for the Import and Marketing of Watches, Telecommunication and Electronic Material, by The Swatch Group (Greece) Import and Trade of Watches Société Anonyme.

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, in its capacity as the leading member of the consortium being the successful bidder in the international tender of the Hellenic Republic Asset Development Fund (HRADF) and the National Bank of Greece for the privatisation and re-development of the Astir Palace Vouliagmeni resort, located on the Attica Riviera.

Group Restructuring in Retail Sector

We are advising a major retail group in relation to their cross-border restructuring by way of transfer of the shares and capital decreases and increases or contribution of shares.

Hewlett Packard Split of Businesses

We advised Hewlett Packard on the Greek leg of the implementation of the worldwide separation of the Hewlett Packard infrastructure, software and services businesses from the printing and personal systems businesses, a complex transaction resulting in two entities with c$57bn in revenue.

Sealed Air Hellas Merger

We advised Sealed Air Hellas SA in the acquisition of 100% of Sealed Air SEE Ltd and the merger by absorption of the latter by the former.

Sale of TRAINOSE

We have been advising the HRADF in the 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 is part of the unbundling of the railway sector in the context of the Second Railway Legislative Package enacted by the EU.

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.

DE Master Blenders Joint Venture with Mondalez

We advised DE Master Blenders in the implementation of the local part of their joint venture with Mondelez International to create a global company with annual sales of more than US$7bn.

Credit M Acquisition by Kaican

We advised Kaican in respect of the acquisition from the Marinopoulos Group of a licensed financial institution under the name Credit M Consumer Credit Company, involving financing from a major private equity fund.

American Express Restructuring of Global Business Travel

We advised the American Express Group of Companies in the restructuring of its Global Business Travel, and the establishment of a joint venture with the Certares Group for its business travel operations to operate under the American Express Global Business Travel brand.

Eurobank Acquisition of New Hellenic Postbank and New Proton Bank

We advised Eurobank on its acquisition of the New Hellenic Post Bank and New Proton Bank from the Hellenic Financial Stability Fund following a mandatory transfer order of their portfolios pre-liquidation, a transaction which took place in the context of the rehabilitation, consolidation and recapitalization of the Greek banking system.

Paine & Partners Acquisition of Eurodrip

We advised Paine & Partners the initial acquisition of a 75% stake in Eurodrip, the subsequent mandatory offer made to acquire the remaining 25% stake therein and the delisting of the Eurodrip’s shares from the Athens Exchange.

Acquisition in Food & Nutrition Sector

We advised an international producer of food, agricultural and industrial products in relation to the acquisition of a global animal nutrition group.

Europe-Wide Acquisition of Tissue Operations

We advised a listed producer of packaging and personal care products in their Europe-wide acquisition of a leading paper manufacturer’s tissue operations.

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.

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.

Bancassurance Agreements

We advised Eurobank in their entry into bancassurance agreements with the Greek and Romanian life and non-life insurance subsidiaries of Eurolife and the adjustment of such agreements contemporaneously with the sale of Eurobank’s 80% sale of Eurolife.