Bernitsas Law advised GIC on their entry into a strategic partnership with Sani/Ikos Group, under which GIC will become the leading shareholder alongside Sani/Ikos Group’s management team.
The transaction values the Sani/Ikos Group at €2.3bn and is expected to close in the 4th quarter of 2022, subject to customary regulatory approvals.
GIC is a leading global investment firm and manages Singapore's foreign reserves. The firm has investments in over 40 countries and offices in 11 key financial cities worldwide.
Sani/Ikos Group owns and operates luxury resorts in beachfront locations in the Mediterranean.
Partners Lambros Belessis and Evi Kitsou led the multimembered Corporate and M&A team advising on this transaction. Partner Athanasia Tsene advised on Banking and Finance, Senior Associates Christina Zakopoulou and Eleni Gerasimidou advised on Real Estate and Hospitality. Senior Associate Maria Kloni advised on Employment and Associate Mara Lissari advised on regulatory and compliance issues. Counsel Linda Vasaka led the due diligence team.