Karatzas and Partners Law Firm

Karatzas & Partners advises Prodea Investments with regards to Piraeus Tower

The Municipality of Piraeus and Piraeus Tower S.A. signed on July 6th, 2020 a 99 years’ concession for the redevelopment and exploitation of Piraeus Tower, a 24-story building in the largest port of Greece and Southeastern Mediterranean, to be fully reconstructed into a modern energy sustainable office and retail building. Piraeus Tower S.A. is a joint venture between Prodea Investments (holding a stake of 30%) and Cante Holdings Ltd (holding a stake of 70%), the latter being a joint venture between DIMAND SA Group (65%) and EBRD (35%). The initial annual consideration for the concession is of €1,010,000 and the total investment is in the region of €50mn. Karatzas & Partners has been advising Prodea Investments all the way through the public tender process to the signing of the concession, including establishment of Piraeus Tower S.A. and regulation of the stakeholders’ relationships in it. For more information: https://lnkd.in/eYJQthJ