Privatisation

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The firm has advised on some of the most significant privatisations undertaken by the Hellenic Republic in recent years. Our primary position as advisors in capital markets together with our expertise in project finance, corporate and public and administrative law give us unique capability in this increasingly important sector. 

Examples of our work include:

  • preparation of the draft law and advice to the President of the Athens Stock Exchange for the privatisation of the Exchange
  • preparation of the draft law and advice to the Cypriot Ministry of Finance for the privatisation of the Cyprus Stock Exchange
  • advising the Hellenic Republic on the privatisation of the Hellenic Telecommunications Organisation S.A. (OTE) through a private placement of 10% of its stake in OTE under an accelerated book building (ABB) procedure
  • advising the Hellenic Republic on the sale of a 3% stake in OTE to Deutsche Telekom AG. This included preparation of the legal opinions and all related documentation, notably the shareholders agreement between OTE and Deutsche Telekom AG
  • subsequently advising the Hellenic Republic on the sale of a 5% stake in OTE to Deutsche Telekom AG and preparation of all related documentation.

We also have extensive experience in preparing draft privatisation legislation for the Greek government. Examples include:

  • preparation of the draft law for the privatisation of the National Road Construction Fund (TEO) and its related transformation from a public to a private law entity (a Greek Limited Company)
  • preparation of the draft law for the Ministry of Health and Social Solidarity concerning the development and management of its real estate property and the establishment of a real estate holding company
  • preparation of the draft law for the Ministry of Transportation and Communications concerning the establishment of a private law entity for the planning of the financing, construction, completion, commissioning, maintenance, operation, management and development of the new international airport in Kasteli, Crete.

For more information on our Privatisation practice please contact Dr. Dimitris Tsibanoulis or Ms. Argyro Leoutsea.