White & Case has advised Intrum AB on the EUR 328 million acquisition and hive-down of the Recovery Banking Unit of Piraeus Bank. Karatzas & Partners and Milbank advised Piraeus Bank.
The latest buzzwords in the automotive and manufacturing industry, “autonomous driving” and “connected mobility,” serve as foretokens of a new “mobility services” era. The industry is affected by current ecological, environmental, and digital standards, and the mobility habits, trends, and demand are gradually disbanding from conventional practices. New indicators are affecting business models in this important industry, including those of parts-suppliers and distributors, by calling for new regulations and consumer expectations.
NPL Greece, Cyprus & SEE Regional Summit, Grand Hyatt, Athens, 29 May 2019
The Kyriakides Georgopoulos Law Firm has advised a consortium consisting of Snam, Enagas, and Fluxys on a >10-year non-recourse acquisition financing corresponding to approximately 65% of the enterprise value to fund the acquisition, through Senfluga Energy Infrastructure Holdings, of a 66% stake of the Hellenic Gas Transmission System Operator S.A.
White & Case, working with Greece's Koutalidas law firm, has advised Alpha Bank A.E. on its sale to a consortium of funds managed by affiliates of Apollo Global Management and the IFC of a mixed pool of non-performing loans to Greek SMEs and, together with Alpha Bank's wholly-owned group company Alpha Leasing S.A., repossessed real estate assets in Greece. Ashurst and Bernitsas advised the buyers.
In an attempt to lighten the heavy burden on the Greek judicial system, articles 178 to 206 of Law 4512/2018 on Arrangements for the Implementation of the Structural Reforms of the Economic Adjustment Programs and Other Provisions provide guidelines for new mediation procedures in civil and commercial matters. This alternative extrajudicial dispute resolution method seeks to provide an attractive and expeditious solution in the form of an executed agreement that is immediately enforceable.
Watson Farley & Williams has advised the National Bank of Greece on a ten year non-recourse acquisition financing of EUR 357 million to a consortium of Snam, Enagas, and Fluxys to fund approximately 65% of the consideration for the consortium's acquisition of a 66% stake in the Hellenic Gas Transmission System Operator S.A. The Kyriakides Georgopoulos Law Firm advised the consortium.
Sherman & Sterling has advised Titan Cement on its offering of EUR 250 million guaranteed notes, as well as its cash tender offer for its outstanding guaranteed notes, as well as in connection with the re-opening of a Reg S offering of fixed rate, guaranteed, high yield, non-U.S. dollar-denominated, senior notes. Allen & Overy was counsel to lead underwriter HSBC.
CMS and Karatzas & Partners have advised ALPLA, a global provider of plastic packaging, on the acquisition of Argo S.A. Binder Groesswang in Austria and Kyriakides Georgopoulos in Greece advised the the sellers on the deal. The transaction closed on October 1, 2018, after obtaining regulatory and competition approvals. Financial terms of the transaction were not disclosed.