PPPS & Privatizations

Our team of specialists advises major international and domestic clients in relation to both (a) the awarding of public works construction and/or project management contracts for major infrastructure and PPP projects; and (b) the privatization of state-owned or operated enterprises, consequently attracting foreign capital and investments.

Our firm provides specialist advice in connection with such projects pursuant to both Greek and EU legislation, in the stage of preparation as well as during implementation of privatisation procedures for corporations directly or indirectly controlled by the Greek State, and in connection with the awarding of construction and/or project management contracts for major infrastructure projects in Greece.

Our practice focuses on the following:

  • drafting of tender documents and monitoring the tender procedure,
  • drafting of project documents and other subcontracts
  • advisory support related to the legislative framework regarding the implementation of PPP and privatization projects
  • preparation of bids, comments, and negotiations on tender documents,
  • establishment of SPVs and drafting SPVs corporate documents,
  • drafting and negotiating finance documents
  • representation in disputes arising from the tender procedure

Recent highlight transactions include:

  • acting as legal adviser to COSCO Group in connection with its participation in the tender for the acquisition of a majority stake in the share capital of Piraeus Port Authority SA, the operator of the port of Piraeus.
  • acting as legal adviser to HRADF in connection with the Acquisition of 100% of the share capital of Hellinikon SA, a société anonyme wholly-owned at the time of its establishment by the Hellenic Republic, preparing all documents of the tender process (Invitation for an Expression of Interest, Request for Proposal) as well as all transaction documents (Share Purchase Agreement, Shareholders Agreement (which existed in the beginning of the transaction), advising in relation to all contacts with the European Commission (oral and written) and in all negotiations with the interested investors, participating in all BoD meetings, in all meetings with the Hellenic Republic, drafting all necessary legal opinions, handling all relative judicial procedures before the competent courts, reviewing all documentation submitted by interested parties in all Phases of the project and preparing the documentation for the Court of Audit;
  • assisting the preferred investor in relation to the tender procedure issued by the HRADF for the acquisition and exploitation of a property in the Afantou area in the island of Rhodes;
  • advising Dragados SA, the construction arm of the ACS Group in Greece, in connection with its participation in a joint venture bidding for the award of the concession contracts relating to the design, construction, operation and maintenance of a new international airport in Heraklion, Crete, in response to the relevant international tender launched by the Greek State. Our services have included the drafting of Head of Terms agreements, MoUs and JV agreements relevant to the project;
  • advising the HRADF in two litigation procedures regarding the validity of the privatization procedure of OPAP S.A. The first challenged the sale of 33% of its shares by HRADF, while the second questioned the conformity with EU Law of the extension for ten years of the exclusive betting rights granted to OPAP S.A.
  • acting as legal adviser of Nea Odos SA/ Odos Kentrikis Elladas SA (the concessionaires for the construction and long-term operation of the Ionia Odos and Central Greece Motorways, subsidiaries of the Ferrovial, ACS/ Dragados and Terna Groups) in relation to legal issues arising, inter alia, under or in connection with the relevant D&C and nominated subcontractor agreements;
  • advising Olympic Broadcasting Services SA in connection with a significant number of contracts with suppliers of equipment and services and for the construction of facilities relating to SOCHI 2014 Winter Olympic Games. Moreover, we advise the client in relation to the preparation and drafting of the design contract and of the construction and maintenance contract associated with the International Broadcast Centre for the Rio 2016 Olympic and Paralympic Games;
  • advising an interested/ potential buyer in connection with the acquisition of Astir S.A. (Astir Palace Vouliagmenis), reviewing all documents (Invitation for an Expression of Interest, Request for Proposal) and transactions linked to the project.

For more information on our PPPS & Privatizations practice, please contact us.