KG Law Firm Advised Resolute Asset Management Group in Acquiring Piraeus Real Estate Management SA

October 2022 KYRIAKIDES GEORGOPOULOS Law Firm advised Resolute Asset Management Group in acquiring Piraeus Real Estate Management SA and entering into a strategic alliance Service Level Agreement with Piraeus Bank. The KG team was led by Theodore Rakintzis, Partner, Ioanna Kyriazi, Partner, and Maria Karampotsiou, Associate.

KG Law Firm advised Ashtrom Renewables Energy

October 2022 KYRIAKIDES GEORGOPOULOS Law Firm’s Energy Infrastructure team advised Ashtrom Renewables Energy on a transaction that marks the Company’s entry into the Greek Renewables Market through the acquisition and development of a photovoltaic projects pipeline of a total capacity of 541 MW, a part of which is at a late development stage. The Energy team’s involvement was continuous from the performance of the due diligence process up to the closing of the transaction beginning of October.  The team was led by Gus J. Papamichalopoulos (Senior Partner), and included Efi Palaiologou…

Acquisition & Integration of G.E. Dimitriou SA in the Quest Group

September 2022 KG Law Firm advised Quest Group in the absorption and integration of G.E. Dimitriou S.A. in its group through a court-ratified rehabilitation agreement contemplating a €5mln. participation of the listed in the ATHEX Quest Holdings SA in a share capital increase of the target company.  G.E. Dimitriou engages in the business of electronic appliances importing and distributing the Toyotomi, Singer, Kerosun, and Izola brands.  The KG team was led by Theodore Rakintzis, Partner, and Penny Oikonomopoulou, Counsel.

KG Law Firm Advised Mercedes-Benz AG Group

September 2022 KYRIAKIDES GEORGOPOULOS Law Firm advised Mercedes-Benz AG Group, Stuttgart, Germany, in the signing of an agreement for the sale and transfer of all the shares of its Greek subsidiary Mercedes-Benz Hellas to the Swiss Emil Frey Group, which is the largest independent vehicle dealership network in Europe, with over 620,000 sales in 2021.  To ensure a smooth transition the change of ownership will be completed in the first quarter of 2023. The KG team was led by Theodore Rakintzis, Partner, Meletios Andrianos, Senior Associate, and Rodopi Maniati, Associate.

KG Law Firm Advised CC Beverages Holdings II B.V.

September 2022 KYRIAKIDES GEORGOPOULOS Law Firm advised CC Beverages Holdings II B.V., a wholly-owned subsidiary of Coca-Cola HBC, in the acquisition of Three Cents from S.I.C.C Holding Limited, a wholly-owned subsidiary of IDEAL Holdings SA, a publicly-listed company in Greece, in a transaction involving, among other things, two entities domiciled in Cyprus and Greece of approximately Euro 45 million value (subject to certain closing adjustments). The Company acquired is the owner of the famous super-premium mixer product line under the Three Cents brand, offering artisanal beverages crafted…

KG Law Firm Proud contributors to the Pharmaceutical Advertising 2022 Guide by ICLG

KG LawFirm has shared the latest International Comparative Legal Guide – Pharmaceutical Advertising and Regulations 2022, published by Global Legal Group. The Greek chapter authored by KG Law Firm’s Life Science & Healthcare team covers important issues in pharmaceutical advertising laws and regulations, including promotion of prescription-only medicines to healthcare professionals, prohibition of gifts, events and hospitality, donations, advertisement of non-prescription medicines, and transparency and disclosure. The chapter is available here.

HDPA Imposes EUR 20 million Fine to AI Company

August 2022, KG Law Firm In Decision 35/2022, the Greek data watchdog, the Hellenic Data Protection Authority (“the Authority”), imposed a EUR 20 million fine on a US-based software company, for its web scraping techniques and functioning of its automated facial recognition system. The Authority’s investigation was instigated by a complaint concerning the AI company’s failure to respond to a data subject’s access request. The company’s activities fell under the scope of the General Data Protection Regulation (GDPR) given the latter’s extra-territorial applicability to processing…

Joint Guidance on Virtual and Hybrid International Medical Congresses

May 2022 Authors: Irene Kyriakides, Victoria Mertikopoulou, KG Law Firm Very recently, the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the European Federation of Pharmaceutical Industries and Associations (EFPIA), and the Pharmaceutical Research and Manufacturers of America (PhRMA) published a Joint Guidance on Virtual and Hybrid International Medical Congresses, aiming to specify the parameters and factors that Companies should consider when determining which code and/or label to use as a reference for the Company activities.  The Joint Guidance clarifies,…

HRADF to Launch an International Tender

May 2022 HRADF will launch an international tender to sell a 49% equity stake in Hellenic Electricity Distribution Network Operator (DEDDIE) by the end of the year. PPC will be the seller and the tender will envisage strong rights for the minority shareholder, while all legal-accounting preparations will be implemented by the time the tender will be launched, George Stassis, chairman and CEO of PPC said, predicting strong investment interest for the distribution grid. 

KYRIAKIDES GEORGOPOULOS Law Firm advised Siemens Energy SA & Siemens Gas and Power Holding B.V.

April 2022 KYRIAKIDES GEORGOPOULOS Law Firm advised Siemens Energy SA & Siemens Gas and Power Holding B.V. with regards to the corporate restructuring of the “Greek Energy Business”. In particular, the restructuring of the Greek Energy Business was effected through the spin-off of the “Greek Energy Business” from “Siemens Electrotechnical Projects and Products SA” and its absorption by “Siemens Energy SA”, which was specifically established for the purposes of this transaction. The transaction was completed on 1 April 2022, giving effect to the remainder of the 2020 worldwide…

The State Puts for Sale an Additional 25% of the Equity of the Greek Electricity Transmission System Operator

April 2022 The Greek State will put for sale an additional 25% of the equity of the Greek Electricity Transmission System Operator (ADMHE) through an international tender inviting EU High Voltage Transmission System Operators to participate. The expected date is early 2021. ADMHE’s today shareholding structure is State Grid Europe Limited (24%) and the remaining 76% is controlled by the Greek State by 51% via two companies (ADMIE Holdings 51% and DES ADMHE 25%).

Regulation on Veterinary Medicinal Products and Repealing Directive

February 2022 Life Sciences & Healthcare team at KYRIAKIDES GEORGOPOULOS Law Firm has circulated a Newsletter on the Regulation on veterinary medicinal products and repealing Directive 2001/82/EC that entered into practice on 28 January 2022 in Greece.  The goal of the Regulation is to:  Simplify the regulatory environment and reduce administrative burden for pharmaceutical companies developing veterinary medicines; Stimulate the development of innovative veterinary medicines; Strengthen EU action to fight antimicrobial resistance. The report is available here.