Corporate & M&A

Amerra Capital Management Acquisition of Majority Stakes in Nireus and Selonda

We are advising Amerra Capital Management LLC, a private alternative asset management firm and shareholder of Andromeda Group, in the latter’s acquisition of majority stakes in Nireus SA and Selonda SA, two major European fish farming companies, from the four Greek systemic banks. Amerra, together with Mubadala Investment Company, a UAE sovereign wealth fund and a shareholder in the combined business, aim to form a new multinational company that will play a leading role internationally in the aquaculture sector.

Hellenic Healthcare Acquisition if Majority Holding in Ygeia

We are advising Hellenic Healthcare Sàrl, a company majority controlled by funds advised by CVC, in their entry into a binding agreement to acquire a c.70% shareholding in Diagnostikon and Therapeftikon Kentron Athinon Ygeia SA (Ygeia) from Marfin Investment Group Holdings SA. Ygeia is a leading healthcare provider for the last 35 years and mother company of a group specialising in healthcare and other services which includes Mitera Private General, Maternity, Gynecological and Paediatrics Clinic S.A. and Leto Maternity – Gynaecological and Surgery Center SA.

Japan Tobacco Acquisition of SEKAP

We advised Japan Tobacco in their acquisition of Greek Cooperative Cigarette Manufacturing Company SA (SEKAP SA) through a Dutch entity from a private individual in the context of a major cross border transaction including tobacco companies in Greece and Russia. Japan Tobacco Inc 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.

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.

DECA Investments Acquisition of Axel Accessories

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

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 in Chemical Products Sector

We advised a globally operating market leader in building materials in their acquisition of 100% of two chemical products companies.

Etraveli Acquisition of e-Travel SA

Bernitsas Law acted as Greek law counsel to Etraveli in connection with its acquisition of e-Travel SA.

Hellenic Healthcare Acquisition of IASO General

Bernitsas Law advised Hellenic Healthcare Sàrl, a company majority controlled by funds advised by CVC, in its entry into a binding agreement to acquire c 97% of the share capital in IASO General SA from IASO SA for c €19.4m.

Sale of Local Operations

We advised a multinational consumer products group in their sale of one of their local operations to potential bidders pursuant to an auction sale process.

National Bank of Greece Proposed Sale of Stake in Ethniki Hellenic General Insurance

We advised the National Bank of Greece in connection with their proposed sale of a controlling stake in its subsidiary, Ethniki Hellenic General Insurance SA, to EXIN Financial Services Holding BV and the entering into a long term bancassurance agreement, pursuant to an international private competitive process.

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.

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.

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.

Cyprus Popular Bank Sale of Participation in Banks

We acted as lead legal advisors to CPB in the sale of its participations in banking institutions in South East Europe as part of its divestment strategy. Marfin Bank Serbia (MBS) and Marfin Bank Ukraine were the first sales achieved and Marfin Bank Romania and Malta are pending completion. The transactions are innovative as CPB is under liquidation/special resolution and the targets are heavily regulated.

Hewlett Packard Separation of Business

We advised Hewlett Packard Enterprise Company on the Greek leg of the separation of its worldwide enterprise business and its subsidiaries from the remaining business, including the establishment of a new entity to which their software business was transferred.

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, and Eurobank’s entering into long term bancassurance agreements with the Greek and Romanian life and non-life insurance subsidiaries of Eurolife.

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.

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.

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.

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.

Advice on Franchising Arrangements

We advised an international jewellery manufacturer and reseller on their franchising arrangements, including reviewing their global franchise agreement and adapting it for the purposes of its implementation in Greece and its compliance with local laws including competition and tax regulations.

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 advised 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 was part of the unbundling of the railway sector in the context of the Second Railway Legislative Package enacted by the EU.

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.

Advice on Franchise Network

We advised a global lingerie manufacturer and reseller on the contractual documentation relating to their franchise network in Greece.

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.