Corporate & M&A

CVC Indirect Acquisition of Majority Stake in Dodoni SA

We acted as transaction counsel to CVC in connection with the indirect acquisition of a majority stake in Dodoni SA by Venetiko Holdings SMSA, a Greek company invested in by funds advised or managed by CVC and the entering into a shareholders’ agreement with the previous controlling shareholder of Dodoni SA who indirectly retained a minority stake therein.

Crown Holdings Inc on Greek Leg of Sale of Majority Stake to KPS Capital Partners

We advised Crown Holdings Inc on the Greek leg of its definitive agreement to sell 80% of its European Tinplate business to KPS Capital Partners LP for approximately €1.9bn.

CVC Acquisition of Ethniki Insurance

We are advising CVC in relation to the acquisition of a majority stake in Ethniki Hellenic General Insurance from National Bank of Greece and entering into a long term bancassurance agreement.

CVC Acquisition of Vivartia Holdings SA

We advised CVC on the acquisition by Venetiko Holdings SMSA, a Greek company invested in by funds managed or advised by CVC, of c. 99.47% of Vivartia, as well as on the financial restructuring of Vivartia’s group bank debt.

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.

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.