Corporate & M&A

Our practice has advised participants in many of the high value and innovative corporate public and private sector transactions to have taken place in Greece. We advise global and domestic market leaders, small to medium sized enterprises and entrepreneurs from a range of industries, financing institutions, funds and other international investors as well as the State on their corporate and commercial activities, risk mitigation and compliance.

Our team has unparalleled experience in structuring and executing ground-breaking deals in the context of new legislation, market liberalisation and foreign investment.

A significant part of our practice is taken up by the provision of ongoing legal services to clients in relation to the legal issues arising in the course of their day-to-day business activities, corporate governance and ESG compliance requirements, commercial contracts and regulatory compliance, for many of which we have acted for over a decade.

We have also assisted in the drafting of new legislation and advised on matters leading to the development of legal frameworks and believe this experience adds substantially to the value of our service. Our aim is to get to know our clients’ individual requirements to ensure we provide a personalised service which is in line with their goals.

Corporate Advisory & Commercial Agreements
Advising leading small, medium and large local and foreign corporations from all industries on their establishment, management and structure is a core service offering. We take an overall view in assisting clients on the structure, alignment and governance of their companies and groups, transactions, contracts and any issues arising in the course of their everyday business. We offer innovative legal solutions to commercial issues faced by our clients and document their activities through agreements designed to offer protection while allowing their businesses to thrive.
Corporate Restructurings
We advise on company and group restructurings with a view to improving tax and operational efficiency. We also have experience representing all types of stakeholders in managing the risks associated with distressed situations and the methods available to address this and avoid insolvency procedures. Our team is highly experienced in cross-border restructurings, mergers & acquisitions of distressed companies or their assets, and investigations.
Mergers & Acquisitions
We advise on mergers, acquisitions and takeovers of public and private companies, as well as transfers of businesses and assets, many with a cross-border element. We represent all types of market participant including acquirers, financial advisors and various stakeholders, and have often drafted documentation to cover ground-breaking transaction structures. We work closely with our EU, Competition & Antitrust, Capital Markets, Employment, Tax and Litigation Departments to provide an integrated, cross-practice service.
Risk & Compliance
Many of our clients, most of which we act for on an ongoing basis, operate in heavily regulated industries. We recognise the importance of risk management and believe in keeping one step ahead of developments in compliance requirements. We combine our knowledge of the law and industries to identify potential challenges or opportunities. Our team advises on corporate and financial reporting, compliance related risk and external investigations, as well as on ESG compliance matters.
Recent Experience
We advise Pancreta Bank in connection with its investment in Attica Bank, along with Thrivest Holding Ltd and the Hellenic Financial Stability Fund, in the context of Attica Bank's c. €473 million equity capital raising, aiming to strengthen Attica Bank’s regulatory capital ratios and address the challenges deriving from its portfolio of non-performing exposures. The transaction also aims to facilitate the proposed subsequent merger of Pancreta Bank and Attica Bank targeting the creation of the fifth ‘banking pillar’ in Greece.
INTRAKAT acquisition of 100% of AKTOR
We 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. The transaction is expected to complete within the fourth quarter of 2023 following the satisfaction of customary conditions precedent, including clearance from the Hellenic Competition Commission.
CNH Industrial Acquisition of Augmenta Group
We advised CNH Industrial, a global leader in agriculture and construction equipment, technology and services, on their acquisition of 90% of the Augmenta group, which specializes in software and hardware developed for agricultural purposes.
GIC Strategic Partnership with Sani/Ikos Group
Bernitsas Law advised GIC on their entry into a strategic partnership with Sani / Ikos Group, under which GIC becomes the leading shareholder alongside Sani/Ikos Group’s management team. The transaction values the Sani/Ikos Group at €2.3bn.
Delta Foods Sale of United Company EAD
We are acting as legal counsel to Delta Foods SMSA, a member of the Vivartia Group, in connection with the sale of its wholly owned Bulgarian subsidiary United Milk Company EAD to Tyrbul EAD, a wholly owned subsidiary of Hellenic Dairies SA.
MBC Group €225m Investment in Antenna Greece BV
We acted as Greek law counsel to MBC Group in connection with their €225m investment in Antenna Greece BV, the indirect parent company of Antenna TV and Makedonia TV. The investment was made through a capital increase, further to which MBC Group acquired a significant minority stake in Antenna Greece BV.
Partners Group Acquisition of Pharmathen from BC Partners
We acted as Greek law counsel to Partners Group on their acquisition of Pharmathen from the international investment firm BC Partners, with the transaction valuing Pharmathen at an enterprise value of c.€1.6bn, and advised Partners Group on various facilities agreements and security arrangements.
CVC Acquisition of Ethniki Insurance
We acted as Greek law counsel to CVC on the successful acquisition from National Bank of Greece of 100% of the leading Greek insurer Ethniki Insurance by Ethniki Holdings S.ὰ.r.l., a holding company invested in by funds managed or advised by CVC.
Prodege LLC Acquisition of Pollfish Ιnc
We advised Prodege LLC, a cutting-edge marketing and consumer insights platform, on the acquisition of Pollfish Inc and in particular its Greek operations, including a Greek start up active in market research and surveys.
Motor Oil Acquisition of ELIN VERD
We advised Motor Oil on the acquisition of ELIN VERD, a company active in the production and promotion of biofuels.
Vivartia Acquisition of Hellenic Dough SA and Alesis SA
We advised Vivartia in the increase of its stake and acquisition of control in Hellenic Dough SA and Alesis SA, two former joint ventures with co-shareholder major players in the frozen dough products sector.
Sale of Stake in Hellenic Electricity Distribution Network Operator
We advised CVC in their participation in the tender conducted by the Public Power Corporation for the sale of 49% in Hellenic Electricity Distribution Network Operator (HEDNO).
Motor Oil Acquisition of Thalis ES
Bernitsas Law advised Motor Oil on the acquisition of 100% of Thalis ES, a leading company in circular economy, active in solid, water and liquid waste management, recycling and treatment.
Sale of Significant Minority Stake in Ellaktor SA
We advised Greenhill Investments Limited and Kiloman Holdings Limited on the sale of their c.30% stake in Ellaktor SA to Motor Oil (Hellas) Corinth Refineries SA in consideration of €182m.
Sale of a Majority Stake in Trastor REIC
We advised WRED LLC, an affiliate of Värde Partners, on the sale of their c.52% stake in Trastor Real Estate Investment Company SA to Piraeus Bank, in consideration of c.€98m payable in cash.
Imker Capital Partners Investment in Softone Technologies SA
We acted as transaction counsel to Imker Capital Partners in connection with its acquisition of a significant stake of 42.4% in Softone Technologies Computer Software SA and the entering into a shareholders’ agreement with the remaining shareholders of the company.
CVC Indirect Acquisition of Majority Stake in Dodoni
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 former shareholders of Dodoni SA.
Crown Holdings Inc 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 Vivartia Holdings
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 Holdings SA, as well as on the financial restructuring of Vivartia group's bank debt.
Saint-Gobain Group Merger of Subsidiaries
We advised the Saint-Gobain Group on the merger by absorption of two of its local subsidiaries into one entity.
Piraeus Bank Demerger by Hive-Down
We advised Piraeus Bank SA in connection with the demerger by way of hive-down of its banking activity sector and its contribution into a new banking entity.
Cosco Shipping Acquisition of 60% Stake in PEARL
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
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.
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.
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.