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10/08/2016

Completion of Phase I Acquisition of Piraeus Port in Greece

COSCO (Hong Kong) Group Limited (“COSCO HK”) has completed the acquisition of 51% shares in Piraeus Port Authority SA ("PPA"), phase I of its acquisition of 67% shares of PPA.

The deal provides for COSCO HK to increase its stake to 67% five years after Phase I, by acquiring an additional 16% from the Hellenic Republic Asset Development Fund (HRADF), subject to the fulfillment of certain conditions, including a mandatory investment of up to €293,783,800 in PPA.

The firm acted as sole legal advisor to HRADF on all aspects of the sale process, as to matters of Greek law, including structuring of the transaction and drafting of all tender documents.