Karatzas and Partners Law Firm

News

Piraeus Bank S.A. has entered into a strategic partnership with Intrum for the management of Non Performing Exposures (“NPE”) and Real Estate Owned Assets (“REOs”) through the establishment of a market-leading independent non-performing assets servicing platform in Greece.

The agreement values the platform at €410mn. Total purchase price for Ιntrum’s acquisition of 80% of the platform has been agreed at €328mn. Piraeus and Intrum aim for Transaction closing on 1 October 2019.

The Legal 500, worldwide guide on recommended Law firms and Individual Lawyers in over 100 countries, released its 2019 guide. We are proud that Karatzas & Partners Law Firm was ranked among the best - ranked (Tier 1) in the following sectors: Banking, finance and capital markets, Commercial, corporate and M&A, Energy, Projects and privatisation, Real estate & construction, Restructuring & insolvency and in the TMT sector.

Our Law Firm was praised for its “first-class reputation for cutting-edge banking and capital markets work”. For our 'continuous excellent advice' thanks to the team's 'long experience in complex M&A transactions of all sizes'. For our 'highly motivated and proactive team' is commended for its 'smart thinking and resourcefulness' and 'out-of-the-box solutions in terms of deal structuring'.

According to The Legal 500, worldwide guide, Karatzas & Partners provides exceptional service' at the cutting edge of real estate law, often on behalf of investment funds, banks, and major investors and developers, and is one of Greece's market leaders for complex restructurings, both for creditors and debtors.

The Legal 500 worldwide guide praises Karatzas & Partners Law Firm for its 'good expertise on the local regulatory framework' and its 'very professional' lawyers.

We acted as Greek legal counsel for MS Pharma, a leading pharmaceuticals and healthcare solutions company in the Middle East based in Amman, Jordan, which also operates in Turkey and Africa, in the acquisition of the Greek-based generics company Genepharm S.A. in the context of MS Pharma’s expansion into Europe and farther afield. Genepharm develops, manufactures and out-licenses high-value generic pharmaceutical products.  The transaction, which was completed on 30.04.2019, required extensive and specialised  legal due diligence in relation to pharmaceutical products and services, as well as complex corporate matters for a Greek company founded on and active since 1967, an in-depth analysis of the commercial relationships and agreements of Genepharm with other pharmaceutical companies and customers in Greece and abroad with regards to the licensing (in and out) and rights of use of generics’ dossiers, distribution of generics and intellectual property matters in the highly regulated pharmaceutical sector, while in parallel our team worked together with the international legal advisors in drafting, negotiating and concluding the share purchase agreement and other transaction documents. The transaction is one of the significant M&A transactions in Greece for Q1 2019 and in the Greek pharmaceuticals sector.

Karatzas & Partners Law Firm participated as sponsors in the 11th Panhellenic Convention of Legal Services Lawyers titled: “Are We Ready for the New Société Anonyme?”, organized by Nomiki Bibliothiki, Economia Group, the Association of Corporate Counsel Europe and the Athens Bar Association.

Over 300 legal advisors and financial consultants came together Friday 12th April, to discuss the framework on establishing and operating L. 4548/2018, which has been effective since January 1st 2019. On behalf of Karatzas & Partners, Alexandros Metallinos, Deputy Managing Partner, delivered a presentation, about the issues that could arise when a company transfers its corporate seat outside Greek boards.

We acted as Greek legal advisers to the successful completion of TAP’s 3.9 billion euro project financing, the largest project finance agreed for a European infrastructure project in 2018.
With the financial close achieved, TAP has reached a major milestone of the project’s progress. TAP has voluntarily committed to comply with environmental and social standards required by the international financial institutions. As such, all necessary assessments to substantiate this commitment have been undertaken and met by TAP.
The financing is provided by a group of 17 commercial banks, alongside the EBRD and the European Investment Bank (EIB). Part of the financing is covered by the export credit agencies - bpifrance, Euler Hermes and Sace. The project raised EUR 3765 million in third party senior debt with a door-to-door tenor of 16.5 years, combining commercial debt along with development financial institutions (DFI) and export credit agencies (ECA) related financing.

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