Privatization of four Greek regional Ports
We are pleased to announce that Alexiou – Kosmopoulos has been appointed as legal advisor of the Hellenic Republic Asset Development Fund (HRADF/ ΤΑΙΠΕΔ) jointly with Your Legal Partners and Dracopoulos & Vassalakis LP, regarding the upcoming privatization of 4 Greek Regional ports (Alexandroupolis, Heraklion, Igoumenitsa and Volos). The legal advisory team was selected further to a tender process. The privatization is envisaged to involve the sale of majority stakes in the share capital of the relevant port operating companies and a revision of the existing concession agreements between the Hellenic Republic and the port operating companies. Post privatization, the HRADF will retain a minority participation in the port operating companies and benefit from protections under the relevant shareholders’ agreements. Our unique track record in comparable privatizations in Greece will be of much help. Alexiou – Kosmopoulos previously acted as sole advisor to the HRADF as to matters of Greek law on all aspects of the privatizations of Piraeus Port Authority S.A. and Thessaloniki Port Authority S.A., the operators of the two largest Greek ports, successfully completed in 2016 and 2018, respectively. In the early 2000’s, firm partner Alexandros Kosmopoulos had led the legal teams responsible for the IPOs of both such entities.