As head of the firm’s M&A practice, Constantinos is an experienced and astute legal adviser and dealmaker. He has supported domestic and international clients from many sectors on a wide range of complex corporate transactions, from privatizations, domestic and cross-border mergers and acquisitions and restructurings to spin offs and disposals, joint ventures and share-purchase agreements.
Ranked in the leading directories, Constantinos is a respected M&A specialist, advising banks, government bodies, corporates and investors – including private equity – on the best and most practical deal structures within Greek and EU law and then helping them to see the deals to completion. He has played a key role in many landmark deals, including the restructuring and privatization of DEPA, the public gas corporation, and has advised on numerous transactions involving companies listed on the Athens stock exchange. Constantinos also acts for private equity funds and multinational corporations in contested public and private M&A acquisitions and advises various private equity funds on MBOs/LBOs, as well as in transactions involving listed companies through the Athens Stock Exchange.
Constantinos’s expertise and experience make him a valued adviser in the most complex and high-profile transactions. He recently advised on the tripartite joint venture between PWC, Qualco and Hoist Finance for the establishment of a Single Technology Platform for the servicing of €9 billion of NPLs, creating the first NPL platform in Greece under the name PQH. He has also worked on several public mergers that have gone before the Hellenic Competition Commission, including the largest attempted banking merger in recent years in Greece, which was cleared on commitments offered by the parties.
A very significant proportion of Constantinos’s work involves cross-border, multi-national or multi-party transactions.
Notable M&A cases
Public MA & Privatizations
- Advised Hellenic Petroleum S.A. (HELPE) on its €90million acquisition from Copelouzos Group and International Constructional S.A. of two operating wind farms in Mani with a total capacity of 55.2MW.
- Advised the Greek State on the negotiation and signing of an amended investment agreement with Canadian mining company Eldorado Gold for €1.9 billion. The revised contract represents the largest FDI in Greece over the last 10 years and one of the largest in the country’s FDI history.
- Advised HRADF (Hellenic Republic Development Fund) on the €1.5 billion Egnatia Odos motorway concession project, which will be the second-largest motorway project in Greece.
- Advised HRADF (Hellenic Republic Development Fund) on every aspect of tender process for the new concession of Attica Motorway, which is expected to be the largest project in Greece and estimated to cost over €2 billion.
- Advised Brook Lane Capital for the establishment of a new joint venture with Lamda for the development of a mixed-use tower in the heart of the Athenian Riviera at the Hellinikon Project’s business district.
- Advised Dromeus Capital on the acquisition of real estate entity Ektonon, a GEK Terna-affiliated entity.
- Advised Louis subsidiary Celestyal Cruises limited, one of the leading cruise companies in Greece, on its acquisition by Searchlight Capital Partner.
- Advised on the acquisition of certain interests in Famar Group, one of the largest pharmaceutical companies in Greece, by Metric Capital Partners LLP.
- Advised Fiera Capital as local councils in the acquisition of shareholders’ stake in the optic-fiber entity Medianet.
- Advised DEPA, the public gas corporation, on the €1 billion restructuring of the group and subsequent privatization by the HRADF. This transaction is the largest restructuring ongoing in Greece in the Energy sector. It is one of the largest reverse mergers under the new corporate transformation law. It is also part of the Greek privatization programme, having been agreed with the EU, ECB and the IMF, and part of the liberalization of the Greek gas market under the unbundling of the gas services.
- Advising DEPA, the public gas corporation, on the privatization process run by the HRADF for the sale of DEPA Commercial for an estimated €300m – €400m.
- Advising DEPA, the public gas corporation, on the privatization of DEPA Infrastructure through a privatization process run by the HRADF for the sale of the gas grid infrastructure around Greece for an estimated €700m.
- Advising DEPA, the public gas corporation, on the sale of the 51% it currently holds in EDA Thess, the gas distribution company of Thessaloniki, to ENI SpA and the simultaneous acquisition of 49% of the Attiki Gas Distribution company, the largest in the country from Shell, as part of the unbundling and liberalization of the Greek Gas market for €200m.
- Advising DEPA, the public gas corporation, in its acquisition of a 20% equity share participation in the SPV for the construction and operation of the floating storage regasification unit of Alexandroupoli, a strategic energy project of approximately €500m that will develop the port of Alexandroupoli in the north of Greece as an energy hub connecting several pipelines that supply LNG to Europe.
- Advising the HRADF (Hellenic Republic Asset Development Fund) for the sale of 5% of the Hellenic Telecommunications Organization (ΟΤΕ) to Deutsche Telecom for €280m as part of the privatization program of the Hellenic Republic.
- Advising a consortium of Glencore andCarlyle Group on the international public tender for the acquisition of a majority stake and the privatization of Hellenic Petroleum for over €1 billion.
- Advising Davidson Kempner European Partners in relation to an acquisition of a listed company in Greece.
- Advising ICON Infrastructure, one of the leading infrastructure funds out of the UK on a major investment into a listed company in the ATHEX active in renewable energy.
- Advising Switz Groupon the acquisition of a company manufacturing traditional Cretan bakery listed on the Athens Stock Exchange.
- Retained by Siemens to advise on the privatization of ROSCO, the company that is responsible for the maintenance and service of the rolling stock of the Greek railways. This process is run by the Hellenic Republic Asset Development Fund.
- Advised Coller Capital a leading secondary market fund on the acquisition of a majority stake on a listed in the ATHEX REIC for €200m.
- Advised Dolphin Capital on the €150m acquisition and leaseback of a portfolio of 28 state properties. This is part of the privatization program of the Greek State run by the Hellenic Republic Asset Development Fund.
Private Equity and other Financial Investors
- Advised Piraeus Bank on its carve out and subsequent sale of its card payments and merchant acquiring business to Euronet Worldwide, and the formation of an exclusive long-term sales and distribution partnership for a total of €300m.
- Advised Engie S.A., a French multinational electric utility company, in divesting its Greek subsidiaries through the share sale-and-transfer of its facilities-management entity Engie Hellas to an upcoming Greek fund.
- Advised, Engie S.A., a French multinational electric utility company, on the sale of its energy entities Heron I and Heron II to leading Greek energy company GEK Terna.
- Advised KKR on its bid for a 49% stake in HEDNO (Hellenic Electricity Distribution Network Operator) through its participation in a public bidding process.
- Represented the Danish company Orsted A/S, which is engaged in the development, construction, and operation of offshore wind farms, in its bid for Greek wind farms from Spanish wind turbine manufacturer Siemens Gamesa.
- Advised EBRD on the sale of its shares in the listed company European Alliance.
- Advised Kew Capital and Monterock International on the acquisition of one of the larger mixed-use resorts in Mykonos by way of share transfer deal.
- Advised Hines, one of the largest privately held real estate-investing companies in the world, on the restructuring of its Greek subsidiaries by way of subsequent mergers between them.
- Advised a leading European REIC and Brown Hotels on their €60m acquisitions of share and real estate assets in Greece.
- Advised Volterra S.A., a renewable energy producer, on its sale through a bidding process for €50m.
- Advised card-payment-systems company Cardlink S.A. on its 92.5% acquisition by Worldline, the global leader in the payments industry, by way of share-transfer deal.
- Advising Alpha Bank on the first REO transaction in our jurisdiction – the sale of a portfolio of real estate assets to Brooklane Capital for €90m.
- Advising Alpha Bank for the sale of three major real estate assets against the purchase price of approximately €37m through a shares sale and purchase transaction sold to Brooklane Capital. This transaction included a large cinema complex in the Athens Metro area.
- Advising Brooklane Capital on an acquisition of a portfolio of 200 real estate assets from Eurobank for over €100m.
- Advising Piraeus Bank on the sale of €700m of NPLs collateralized with real estate assets around Greece.
- Advising Piraeus Bank on the sale of €400m of NPLs collateralized with real estate assets in Serbia.
- Advising Davidson Kempner European Partners in bidding for a €800m portfolio of NPLs secured on marine and real estate assets originated by Piraeus Bank.
- Advising LoneStar, a leading US fund, on the potential acquisition of a €1 billion NPL portfolio tendered by Alpha Bank.
- Advising LoneStar, a leading US fund, on the potential acquisition of a €1.6 billion NPL portfolio tendered by Piraeus Bank.
- Advised Fortress in its effort to acquire the €280m car-rental company AVIS from Piraeus Bank.
- Advised BriQ Properties REIC on the acquisition of 80% of the share capital of Sarmed Warehouses, a market leader in logistics for €23.6m.
- Advising Briq REIC on the acquisition of a hotel in Skiathos against the purchase price of €3.5m through a share sale-and-purchase transaction.
- Advising Hines on the acquisition of several hotels in Crete through two major share sale-and-purchase transactions valued in total at approximately €70m.
- Advising Hines on the acquisition of two hotels in Ag. Nikolaos Crete through the acquisition of shares valued at €20m and subsequent refurbishment and repositioning of the assets for a total project value of over €40m.
- Advising Hines Inc. on a joint venture with the National Bank of Greece (NBG) to redevelop Athens Heart Mall into a 22,000-square-meter premium-outlet mall, named Gazi Outlets.
- Advising Hines on the acquisition of Academy Gardens, a large plot of land for development in the outskirts of Athens.
- Advising Hines on the acquisition of an office building in the center of Athens.
- Advised Hines and Henderson Park on the bid for King George, a landmark hotel located in the center of Athens.
- Advised Hines and Henderson Park on the bid for Hilton Athens Hotel, a landmark hotel located in the center of Athens.
- Advising Hines on the acquisition of a large hotel complex owned and operated by a global tour operators.
- Advising Chenavari Investment on the acquisition of a large number of real estate assets through multiple share sale-and-purchase transactions.
- Advising Grivalia REIC on the potential acquisition of a major real estate asset in Thessaloniki against a purchase price of approximately €50m through a share sale-and-purchase transaction.
- Retained by Energean Oil and Gas to advise on the investment by Third Point LLC for €100m.
- Advised UK company Sony Europe Limited on its cross-border merger with Sony Hellas SA, in one of the first cross-border mergers to take place in Greece by virtue of Greek Law 3777/2009 transposing Directive 2005/56/EC on cross-border mergers.
- Advised medical equipment company Medtronic Hellas SA on its merger with Covidien Hellas SA.
- Advised Chemical Company Dow on the local aspects of the merger between Dow Chemical Company and DuPont.
- Advising Sony Music on its group restructuring through intragroup share transfer transactions and subsequent mergers by absorption of EMI Greek subsidiaries by Sony.
- Advising Whirlpool on its Indesit Greece business transfer agreement and the subsequent merger by absorption of Indesit Greece by Whirlpool Hellas.
- Advised on the local aspects of the US$3.4 billion acquisition of Motorola Solutions Enterprise business by Zebra technologies.
- Advising El Sewedy Electric in the legal due diligence and €55m acquisition of four SPVs currently operating wind farms in Greece.
- Advising Olympic Foods on a €30m cross-border merger with a leading Indian conglomerate in the food business.
- Advising Camelot Group of Companies, the operator of the UK lottery, on a share acquisition in Greece.
- Advising Nostira Renewable Energy on the sale of two wind farms to Cubico Sustainable Investments.
- Advising ICON Infrastructure on the due diligence for an acquisition on three wind farms and 12 PV parks.