Bernitsas Law advised INTRAKAT on their acquisition of 100% of AKTOR from ELLAKTOR and AKTOR CONCESSIONS in consideration of €100m payable in cash at completion of the transaction.
As part of the transaction, INTRAKAT has also agreed to guarantee the repayment of AKTOR’s outstanding intragroup indebtedness of up to €114m within a certain period. The transaction was signed on 30 March 2023 and is expected to complete within the fourth quarter of 2023 following the satisfaction of customary conditions precedent, including clearance from the Hellenic Competition Commission.
Intrakat Group is a leading player in Greece's construction sector and delivers high end products in an integrated portfolio of activities, including Infrastructure Public Projects, PPPs – Concessions, RES – environmental & Real Estate development projects.
AKTOR is the construction arm of ELLAKTOR and its biggest subsidiary, providing a wide range of highly diversified services in the fields of Construction, Photovoltaic Parks, Quarry Management, Technical Facilities and Project Management.
Partner Nikos Papachristopoulos and Senior Associatie Sofia Kontou advised INTRAKAT on the Corporate and M&A aspects of the transaction and Partner Marina Androulakakis and Senior Associate Tania Patsalia advised on EU, Competition & Antitrust.
