Prokopis Dimitriadis heads our Banking & Finance practice and is also a leading member of our M&A, Capital Markets, Litigation & Dispute Resolution, and Real Estate practices where he has established a reputation for developing practical solutions that get the deal done.

He has wide-ranging experience in advising on and executing major transactions involving funds, institutional investors and large corporates – from both the buy and sell side – and in structuring complex financing arrangements for domestic and international clients. Prokopis has first-class drafting skills in English and is accustomed to working on projects where finance documentation is written under Greek and English law.

Prokopis is listed in Chambers Europe for Banking Finance, Dispute Resolution and Insolvency/Restructuring.

In addition to his transactional and financial work, Prokopis is skilled in international commercial arbitration under the ICC rules. He has also extensive knowledge of domestic arbitration rules under the Greek Code of Civil Procedure. He is currently the legal counsel of ICC Hellas, the Greek chapter of the ICC.

Areas of expertise

Prokopis is the head of our Banking & Finance practice, which itself is one of Athens’s leaders in advising domestic and international clients in all aspects of financing in Greece. He is well-known and widely respected within the Greek financial sector as a technical expert and a pragmatic solution-driven adviser. He has been listed by Chambers and Partners for Banking-Finance for many years.

Prokopis has played a leading role in many major acquisition finance transactions as well as advising on complicated secured transactions, securitizations, structured finance, credit facilities, revolving loans, derivatives, project finance, issuance of subordinated debt, high-yield and other forms of bonds and debt restructuring. The firm has carved out a reputation for strength in NPLs and Prokopis has been central to this drive, advising clients on both the buy and sell side. He has also played a key role in the firm’s activity in renewable energy, including wind and photovoltaic parks.

He has also advised both corporates and credit institutions on matters relating to debt and finance, such as issuance of convertible bonds, MIFID and capital adequacy requirements.

Notable Banking & Finance cases


  • Lenders Counsel to EBRD for the €30m financing of CVC acquisition of a major Hospital in the Athens metropolitan area.
  • Lender’s counsel to EBRD for a loan note to a Greek corporate.
  • Advising on the participation of EBRD in the largest equity raising by a Greek company this year the €700m increase of capital by Lamda Development for the construction of the Hellinikon Project.
  • Advising EBRD in the financing of Papoutsanis S.A. a leading cosmetics maker in Greece.
  • Advising EBRD on its equity participation in the newly established Energy Exchange that will be the new regulator of a new capital markets organization consisting of ADMIE, LAGIE, Athens Stock Exchange (ATHEX) and the Cyprus Stock Exchange that will be established for the first time in Greece for the trading of energy.

Lenders’ Counsel Infrastructure

  • Advising the consortium of lenders (NBG, Piraeus and Alpha) providing acquisition finance to Avi Alliance (a subsidiary of Canadian fund PSP), which is participating to the public tender for the acquisition of a 30% stake at Athens International Airport for a financing that would exceed €1 billion.
  • Lenders’ counsel on the bidding by Terna and Egis for Egnatia Odos S.A. a major toll road in the North of Greece tendered by the HRADF as part of the privatization program of the Greek State estimated at a value of €700m.
  • Lenders’ counsel to National Bank of Greece for the refinancing of a wind-farm project.
  • Lenders’ counsel to National Bank of Greece to advise on the acquisition of a 12MW photovoltaic park in Greece.
  • Lenders’ counsel to National Bank of Greece for the refinancing of a Quest Pylos Energy S.A.
  • Advising on the National Bank of Greece Business Seeds program for investing in start-ups, a key part of its activities to support the Greek economy.
  • Advising the four major Systemic Greek banks (NBG, Piraeus, Eurobank and Alpha) in all aspects of the issue of a syndicated bond loan amounting to €35m for Terna Magnesite.
  • Advising on a €130m syndicated corporate bond loan to GEK Terna led by Piraeus Bank as mandated lead arranger.

Lenders’ Counsel Corporate / Real Estate / High Yield

  • Lenders’ counsel to Alpha Bank on the first REO transaction to take place in Greece selling a group of real estate assets to Brooklane Capital for over €90m.
  • Advising Alpha Bank for the sale of three major real estate assets against the purchase price of approximately €37m through a share sale-and-purchase transaction sold to Brooklane Capital. This transaction included a large cinema complex in the Athens Metro area.
  • Advising Alpha Bank in financing Hines for the development of Academy Gardens a greenfield project in the Athens Metro Area.
  • Retained by Alpha Bank to advise on the refinancing of a major construction company.
  • Advising Hines on the acquisition of several hotels in Crete through two major shares sale and purchase transactions valued in total at the amount of approximately €150m.
  • Advising Energean Oil and Gas on a major capital market transaction for the issuance of a High Yield Bond with Citigroup Global Markets for €250m.

Non-Performing Loans (NPLs)

  • Advising Piraeus Bank on the sale of multiple NPL portfolios totaling approximately €700m.
  • Advised Piraeus Bank on the sale of €300m of NPLs using the Greek NPL law.
  • Advising Davidson Kempner European Partners in acquiring a €800m portfolio of non-performing loans secured on marine and real estate assets originated by Piraeus Bank for €300m under the securitization and NPL Greek law.
  • Advised Lone Star funds in the bid for Project Jupiter a secured NPL SME portfolio tendered By Alpha Bank of a value over €1 billion.
  • Advising Lone Star, a leading US fund, on the potential acquisition of a €1.6 billion NPL portfolio tendered by Piraeus Bank.
  • Advising Lone Star, a leading US fund, on the potential acquisition of an NPL portfolio tendered by Alpha Bank. A deal with asset value over €1 billion.
  • Advising Lone Star, a leading US fund, on the potential acquisition of an NPL portfolio tendered by Piraeus Bank. A deal with asset value over €1billion.
  • Advised Hoist Finance, PwC and Qualco in the formation of a JV and the winning bid on the Single Liquidation Project tendered by the Bank of Greece for the servicing of a €9 billion portfolio of NPLs stemming from 16 bad banks, creating the first NPL platform in Greece.
  • Advised Hoist Finance in an effort to acquire two portfolios of NPLs with total value of €2 billion tendered by Eurobank.
  • Advising Hoist Finance in the bid process for the acquisition of an NPL portfolio at €1.3 billion tendered by Alpha Bank.
  • Retained by King Street, a global hedge fund to work on a multimillion-euro transaction involving the acquisition of an NPL portfolio.

Acquisition Finance – Asset Finance

  • Advising a consortium of Glencore and Carlyle in the public tender for the privatization of Hellenic Petroleum, as well as its acquisition financing.
  • Advising Mohegan Gaming & Entertainment in its participation to the public tender for the concession of a Casino License and the financing of the Hellinikon Integrated Resort Casino. Project tendered out by the Hellenic Ministry of Finance and the Hellenic Gaming Commission. This project is estimated at over €1 billion.
  • Advising Hines is its financing of the acquisition and development of a new business complex in Athens.
  • Advised Hines on €100m bank financing for the acquisition of five hotels in Crete.
  • Advised Coller Capital a leading secondary market fund on the acquisition of a majority stake on a listed in the ATHEX REIC for €200m.

Regulatory & Bankruptcy / Insolvency

  • Advising Credit Suisse on the potential impacts of Brexit on the way cross-border financial services are offered.
  • Advising Deutsche Bank in the taking of security over listed shares in the Athens Stock Exchange.
  • Advising PQH single liquidation platform on regulatory and compliance matters.
  • Advising PQH on the drafting and execution of SLAs with technological providers and the operation of the single technology platform and the portfolio on-boarding and migration to the STP.
  • Advising PQH, the single liquidation project run by PWC, Qualco and Hoist Finance, on regulatory matters of banking regulation, specifically focused on NPLs.
  • Retained by Hoist Finance to advice on the issuance of an NPL servicing license by the Bank of Greece under Law 4354/2015.
  • Our team advised the executive management of a systemic Bank on an ongoing investigation by the SSM (single supervisory mechanism) of the ECB supervision function.
  • Retained by Swiss Fund and the bondholders to file for bankruptcy proceedings against Follie Follie Group a listed entity with global operations with financing difficulties defaulting on its debt obligations against creditors for over €500m.
  • Advised Credit Suisse on regulatory issues faced by the Bank due to Brexit and how the bank should continue providing its services in Greece post Brexit.

Prokopis plays a leading role in our thriving M&A practice, working with a wide range of corporate and institutional clients on major strategic transactions. He has been a key adviser to DEPA, the public gas corporation, during its restructuring and privatization, and to a consortium tendering for a €1 billion majority stake in the privatization of Hellenic Petroleum. Prokopis has also advised on the buy or sell side in numerous NPL transactions.

Notable M&A cases


Public MA & Privatizations

  • Advising 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.
  • • 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.
  • 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 and Carlyle 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.
  • 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.
  • Advising Warburg Pincus, a US private-equity firm in an acquisition of a listed company in the Athens Stock Exchange.
  • 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 & Other Financial Investors

  • 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.
  • 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 centre of Athens.
  • Advised Hines and Henderson Park on the bid for King George, a landmark hotel located in the centre of Athens.
  • Advised Hines and Henderson Park on the bid for Hilton Athens Hotel, a landmark hotel located in the centre of Athens.
  • Advising Hines on the acquisition of a large hotel complex owned and operated by a global tour operator.
  • 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 Eurobank on the competition aspects of its potential merger with National Bank of Greece.
  • Dolphin Capital and Third Point LLC on the due diligence and acquisition of Credit Agricole Leasing Hellas., a company with approximately €450m of finance lease receivables and nearly 2,000 contracts across Greece as well as 150 properties and 200 employees.

Prokopis has advised both corporate and institutional clients on a wide range of real estate transactions, particularly in the areas of hotels and leisure, and retail and commercial development in Athens.

Notable Real Estate cases


Real Estate Investment Companies REICs

  • Retained by Grivalia REIC for the €30m acquisition of the Asteria Hotel in the Athens Riviera. This will be one of the major development assets in the Athens area to be operated by a luxury operator with a total development budget in excess of €80m.

Real Estate Funds

  • Advising Hines in several projects in Greece including the successful acquisition of a landmark hotel near the center of Athens for €33m.
  • Advising Hines on project Cyan for the acquisition of several hotels in Crete through two major share sale-and-purchase transactions valued in total at approximately €70m.
  • Advising Hines on project Hermes for the acquisition of two hotels in Ag. Nikolaos Crete through and acquisition of shares valued at €20m and subsequent refurbishment and repositioning of the assets for a total project value of over €40m.
  • Advising Hines on a joint venture with the National Bank of Greece to redevelop Athens Heart Mall into a 22,000m2 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 including the construction and leasing out to major retailers.
  • Retained by the owners of the Grand Hyatt in Athens to advise on the day-to-day operations of the hotel.
  • Advising Hines on the acquisition of a prominent office building in the center of Athens.
  • Advising Hines on the acquisition of a large hotel complex owned and operated by a global tour operator.
  • Advising Hines on the acquisition of a large shopping mall in the larger Athens metro area.
  • Advising Hines and Henderson Park in the arranging of the real estate acquisition finance of €40m for a new hotel in the Athens area.
  • Advised Hines and Henderson park on the bid for King George, a landmark hotel located in the center of Athens.
  • Advised Hines on the bid for Hilton Athens Hotel, a landmark hotel located in the center of Athens.
  • Advising Brooklane Capital on an acquisition of a portfolio of 200 real estate assets from Eurobank for over €100m.
  • Advising Aroundtown in multiple acquisitions of shares and real estate assets in Greece totaling over €60m.
  • Advising Chenavari on project Zoia for the acquisition of a large number of real estate assets against the purchase price of approximately €57m through multiple share sale-and-purchase transactions.
  • 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.
  • Dolphin Capital and Third Point LLC on the due diligence and acquisition of Credit Agricole Leasing Hellas., a company with approximately €450m of finance lease receivables and nearly 2,000 contracts across Greece, as well as 150 properties and 200 employees.
  • Retained by Diamond Resorts Inc. in its acquisition of the leading Greek timesharing company with interests in five-star hotel complexes in Greece.

Collateralized Non – Performing Loans – REOs

  • Advised LoneStar funds in the bid for Project Jupiter, a secured NPL SME portfolio tendered by Alpha Bank with a value over €1 billion.
  • Advising LoneStar, a leading US fund, on the potential acquisition of a €1.6 billion NPL portfolio tendered by Piraeus Bank.
  • 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 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 share sale-and-purchase transaction to Brooklane Capital. This transaction included a large cinema complex in the Athens Metro area.
  • 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.

Notable Dispute Resolution cases


  • Advising Energean Oil and Gas on several litigation cases in the oil and gas sector against both the Greek State and other competitors, focusing especially on drilling and exploration rights stemming from oil and gas concession agreements.
  • Advising Kavala Oil on litigation case against Hellenic Grid Operator (ADMIE) regarding multimillion-euro claims.
  • Advising Kavala Oil in defense of a number of lawsuits by its minority shareholders regarding the annulment of its general shareholders’ meetings.
  • Representing HRADF in a multimillion-euro civil claim against COSCO stemming from the privatization of the Port of Piraeus.

Arbitration

  • Representing Leidos (former SAIC) in the Supreme court in a litigation matter on annulment of an ICC arbitration award.
  • Won a significant ICC case for Leidos (former SAIC) in a multimillion-euro claim against the Greek State for the security of the Olympic Games of Athens 2004.
  • Representing the largest banking institution in Greece in an ICC/ad hoc arbitration for €90m.
  • Represented the Dubai authority for construction works in the recognition and enforcement of the award in Greece regarding a sewage project in Dubai.
  • Successfully represented Credit Agricole in a major banking arbitration dispute under the ICC rules of international arbitration for claims of €200m. Co-counsel in this matter with Clifford Chance in Paris.
  • Represented the Bolton Group in a €50m ICC arbitration against the Greek State arising out of the privatization of Athens Papermill S.A.
  • Represented The construction joint venture on the Ionia Odos road concession agreement in an ICC arbitration against the Greek State in relation to all claims arising out of a design and construction agreement for the construction of a motorway in western Greece with a value of approximately €1 billion.
  • Represented The construction joint venture on the E-65 road concession agreement in an ICC arbitration against the Greek State in relation to all claims arising out of a design and construction agreement for the construction of a motorway (E65) in Central Greece with a value of approximately €1 billion.
  • Retained by Slaughter and May to advise on a highly complex corporate litigation matter involving a transaction with a series of buy-outs and divestments totaling over €1.5 billion and a possible €1.5 billion-plus claim against members of a Board of Directors of a Greek company for claims of breach of fiduciary duty.
  • Represented Stet Hellas S.A., one of the first mobile telecommunications companies in Greece, and as subsidiary of Telecom Italia in an ICC arbitration brought against its exclusive distributor claiming amounts up to €150m.

Notable Capital Markets cases


  • 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 on the participation of EBRD in the largest equity raising by a Greek company in 2020 the €700m increase of capital by Lamda Development for the construction of the Hellinikon Project.
  • Advising EBRD on its equity participation in the newly established Energy Exchange that will be the new regulator of a new capital markets organization consisting of ADMIE, LAGIE, Athens Stock Exchange (ATHEX) and the Cyprus Stock Exchange.
  • Advising Piraeus Bank on internal governance, audit committee, loan restructuring issues.
  • Advising Brig REIC in its increase of share capital for €25m.
  • Advising a consortium of Glencore and Carlyle Group on the international public tender for the acquisition of a majority stake and the privatization of listed entity Hellenic Petroleum for a transaction of a value of over €1 billion.
  • Advising a Davidson Kempner in the acquisition of a €800m nominal value portfolio of non-performing loans secured on marine and real estate assets originated by Piraeus Bank using a combination of securitization and sub-participations.
  • Advising Davidson Kempner European Partners in relation to an acquisition of a listed company in Greece.
  • Advising Lone Star, a leading US fund, on the potential over €1 billion acquisition of an NPL portfolio tendered by Alpha Bank.
  • Advising Lone Star, a leading US fund, on the acquisition of a portfolio of NPLs, collateralized with real estate assets, tendered by Piraeus Bank for a value of €1.6 billion.
  • Advised Coller Capital, a leading secondary market fund, on the acquisition of a majority stake on a listed in the ATHEX REIC for €200m.
  • Advising Alpha Bank for the sale of three major real estate assets against the purchase price of approximately €37m through a share sale-and-purchase transaction sold to Brooklane Capital. This transaction included a large cinema complex in the Athens Metro area.
  • Advising Alpha Bank in financing Hines for the development of Academy Gardens, a greenfield project in the Athens Metro Area.
  • Advising Hines on the acquisition of several hotels in Crete through two major share sale-and-purchase transactions valued in total at approximately €150m.

Notable Project Finance & Development cases


Project Development

  • Advising a consortium of Glencore and Carlyle Group on the international public tender for the acquisition of a majority stake and the privatization of Hellenic Petroleum. This will be the largest privatization in Greece in last decade with the expected acquisition price to exceed €1.3 billion.
  • Advising Mohegan Gaming & Entertainment on the international public tender for the concession of a Casino License and the development of the Hellinikon Integrated Casino Resort, a seminal project for Greece with a total value exceeding €1 billion.

Major Concession Projects – Lenders & Sponsors work

  • Advising the consortium of lenders (NBG, Piraeus and Alpha) providing acquisition finance to Avi Alliance (a subsidiary of Canadian fund PSP), which is participating to the public tender for the acquisition of a 30% stake at Athens International Airport.
  • Lenders counsel on the bidding by Terna and Egis for Egnatia Odos S.A., a major toll road in the North of Greece tendered by the HRADF as part of the privatization program of the Greek State.

PPPs

  • Advising the sponsors on the design, finance, construction, operation, and maintenance of the Ilia Waste Treatment Project.

Energy

  • Advising a consortium of Glencore and Carlyle Group on the international public tender for the acquisition of a majority stake and the privatization of Hellenic Petroleum.
  • Advised Volterra S.A. on the transaction of a hybrid Greek bond loan of up to €40m to a Greek Special Purpose Vehicle (“SPV”) that will build, own and operate the 43MW Lykovouni wind farm in Beotia north of Athens.

Defense Contractors Work

  • Advised Japanese conglomerate Toppan printing Inc. in the public procurement and installation of a printing system for the issuance of Greek Passports and citizens IDs for the Hellenic Police Headquarters.
  • Advised Leidos on the disputes with the Greek Government for the supply of the security systems for the Athens 2004 Olympic Games.

Related News & Events

Constantinos Lambadarios and Prokopis Dimitriadis advise Hines and Henderson Park on major real estate transaction

24-Jul-2020

Project Complete! Congratulations to the Hines and Henderson Park teams for completing a truly amazing transaction

04-Jun-2020

Yannis Kourniotis leads the Lambadarios team in advising a syndicate of Greek Banks

25-May-2020

  • Athens Bar Association
  • Greek
  • English
  • LLM, St. John’s College, University of Cambridge (2005)
  • LLM, School of Law, University of Athens (2004)
  • LLB, School of Law, University of Athens (2002)

Prokopis Dimitriadis handles finance transactions and NPL portfolio mandates. He assisted Hines and Henderson Park with the acquisition finance connected to their purchase of Athens Ledra Hotel. Clients describe him as "proactive" and "fast."
Chambers Europe

Prokopis Dimitriadis has considerable experience in NPL-related matters. He also assists clients with disputes and contentious mandates.
Chambers Europe

Prokopis Dimitriadis assists with a broad range of commercial disputes, including cases against state entities. One interviewee "really appreciates his creativity" and adds that "his responsiveness is excellent."
Chambers Europe

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