Bernitsas Law has advised the majority shareholders of Ydrogios Insurance on the sale of 80% of their share capital to Reale Group.
Ydrogios Insurance is a Greek non-life insurance company and one of the largest general insurance companies in Greece. The company serves over 400,000 policyholders and operates through a network of 2,000 independent insurance intermediaries.
According to Bernitsas, “the agreement sets out the terms upon which Ydrogios' shares will be sold to the parent company of Reale Group, Reale Mutua di Assicurazioni, in two stages, with 70% of the shares to be transferred by the end of 2023 and the remaining 10% by the end of 2026.”
The Bernitsas Law team included Partners Lambros Belessis and Evi Kitsou and Senior Associate Anastasia Kaiara.
Bernitsas could not disclose further information on the deal.