In The Debrief, our Practice Leaders across CEE share updates on recent and upcoming legislation, consider the impact of recent court decisions, showcase landmark projects, and keep our readers apprised of the latest developments impacting their respective practice areas.

In The Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. Since now is the time when plans for next year are made (and budgeted for) this time we asked GCs: Is your in-house legal function’s budget increasing, decreasing, or remaining the same in 2024?

Papapolitis & Papapolitis has advised Intralot on its EUR 130 million debut public bond issuance listed on the Athens Stock Exchange, completed in February 2024.

Lambadarios has advised RWE Renewables and PPC Renewables on the financing for their 940-megawatt portfolio of solar farms in Amyntaio, Western Macedonia, through their Meton joint venture company. Karatzas & Partners advised Eurobank, Alpha Bank, and the National Bank of Greece on the financing.

Reed Smith has advised PPC Renewables on its acquisition of a wind projects portfolio – totaling approximately 164 megawatts – from Intrakat as well as on the parties' strategic cooperation on developing a further 1.6 gigawatts in renewable energy projects. Argyropoulos-Gissaki & Associates reportedly advised Intrakat.

Did you know that the early 2024 deal leaderboards are already available via the Activity Rankings function of the CEELMDirect website?

Papapolitis & Papapolitis has advised London & Regional Properties on its sale of the Athens Titania Hotel to H Hotels Collection.

Zepos & Yannopoulos has advised Boston-based hedge fund manager Bracebridge Capital on its acquisition of 95% of the mezzanine and junior notes in the Frontier II securitization originated by the National Bank of Greece. Papapolitis & Papapolitis advised arranger Morgan Stanley.

On February 21, 2024, Zepos & Yannopoulos announced that the sale of an approximately 77% stake in Ydrogios Insurance to the Reale Group (as reported by CEE Legal Matters on July 17, 2023) had closed.

Bernitsas has advised Hoist Finance on its purchase of the Pearl Portfolio – a retail NPL portfolio of unsecured and secured loans originated by Alpha Bank – in a secondary sale and transfer transaction.

Kyriakides Georgopoulos has advised Novartis on the separation of its Sandoz generic and biosimilars division in Greece.

Zepos & Yannopoulos, working with Milbank, advised the joint global coordinators, managers, and underwriters on Athens International Airport's IPO on the regulated market of the Athens Exchange. PotamitisVekris, working with Latham & Watkins, advised AIA. White & Case, Your Legal Partners, and Dracopoulos & Vassalakis advised the Hellenic Republic Asset Development Fund on selling its 30% stake in AIA. Koutalidis advised AviAlliance on the acquisition of a controlling stake of just over 50% in the Athens International Airport.

Harrisons, Maric & Co, Lambadarios, and Wolf Theiss, working with Linklaters, have advised a banking consortium led by UniCredit Bank London on the United Group's EUR 1.7 billion issuance of four tranches of senior secured and PIK notes as well as on the increase and extension of its EUR 410 million revolving credit facility. Selih & Partnerji, working with Paul Weiss, advised the United Group. Schoenherr, Koutalidis, De Brauw Blackstone Westbroek, and Elvinger Hoss Prussen reportedly advised the United Group as well.

Former Senior Associates Sonia Saranti and Ioannis Charalampopoulos join the Partner ranks of Machas & Partners in Greece, with Saranti also appointed Head of Banking and Finance and Charalampopoulos the firm's new Head of Corporate & M&A.

Bernitsas has advised Eurobank Ergasias Services and Holdings on its EUR 300 million issuance of Subordinated Tier II instruments due April 25, 2034.

On January 19, 2024, Zepos & Yannopoulos announced that Enel’s sale of a 50% stake in Enel Green Power Hellas to Macquarie Asset Management (reported by CEE Legal Matters on August 18, 2023) had closed.

Bernitsas has advised Piraeus Financial Holdings on a liability management exercise concerning EUR 400 million in Tier 2 notes due June 26, 2029, and new EUR 500 million issuance of Tier 2 notes.

Papapolitis & Papapolitis has advised London & Regional Properties on the sale of Rhodes Bay Hotel & SPA and Elite Suites Rhodes Bay to the H Hotels Collection.