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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, including structuring of the transaction and drafting of all tender documents.