HIG acquiring National Bank of Greece and Piraeus Bank participations in Hellenic Halyvourgia’s €316 million bond loan


Following the acquisition in 2019 of Eurobank’s participation in the €316 million syndicated secured bond loan issued by Hellenic Halyvourgia S.A., a leading Greek steel company, DVLaw also advised H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with over $36 billion of equity capital under management, in its participation in the bidding process and the acquisition from National Bank of Greece and Piraeus Bank of their approx. €90 million stake in said bond loan. YLP assisted as co-counsel in the transaction. We currently advise H.I.G. on possible restructuring plans.   


HIG – Makios SA

Proud to have contributed, together with Yοur Legal Partners, as Greek legal advisors and Arendt & Medernach, as Luxembourg legal advisors, to Miami-based private equity firm HIG Capital, in the investment by the latter in Makios Logistics S.A, a provider of integrated logistics services and operator of temperature-controlled warehousing in Greece.
Dracopoulos & Vassalakis’ LP and Your Legal Partners’ involvement included, inter alia, the drafting, negotiation, finalisation and signing of the Joint Venture Agreement, Share Purchase Agreement and ancillary agreements. We also advised HIG Capital in relation to the financing of the acquisition as well as in relation to the refinancing facility.


Dracopoulos and Vassalakis LP – Quant

Following a completive process, Quant has entered into a long-term servicing agreement with Pancreta Bank for the servicing of a c. 670 million portfolio that includes non-performing corporate and SME loans, secured by real estate concentrated in the area of Crete.

DVLaw is proud to have assisted Quant in all aspects of the deal, spanning from the company’s participation in the competitive process to the negotiation and finalization of the servicing agreement.



Dracopoulos and Vassalakis LP – Piraeus Bank

In 2 March 2021 Piraeus Bank and Intrum AB (publ) signed a binding agreement for the sale of thirty percent (30%) of the mezzanine notes of the Vega non-performing loan securitisations transaction, comprising predominantly denounced loans, secured by residential and commercial real estate of a total GBV of c 4.9 bn. The Bank has applied for the provision of a guarantee by the Greek State on the senior notes of c.€1.4bn. pursuant to the "Hercules" Asset Protection Scheme of Law 4649/2019.
DVLaw is proud to advise Piraeus Bank as Greek law counsel, together with YLP, in this landmark securitisation transaction and work together with the Bank’ project team and the rest of the advisors towards its successful consummation.


Dracopoulos and Vassalakis LP – Alpha Bank

Alpha Bank announced on 22 February 2021 that it has entered into a definitive agreement with certain entities managed and advised by Davidson Kempner Capital Management LP in relation to the sale of 80% of its loan servicing subsidiary Cepal Holdings Single Member S.A. and the sale of 51% of the mezzanine and junior securitization notes of the €10.8 billion NPE portfolio (Galaxy Securitisation). The transaction is expected to close in Q2 2021.
DVLaw together with YLP advised the Joint Arrangers Deutsche Bank and Alantra in the Galaxy Securitisation that represents the second largest rated NPE securitisation transaction in Europe.



Pro-bono services to the MIT Enterprise Forum Greece Competitions’ winners

DVLaw agreed to provide complementary legal services to the three winners/startuppers of the 2019 and 2020 MIT Enterprise Forum Greece Competitions.
The winner of the competition and the two runner-ups will receive a mix of complementary legal services (Greece only).
More specifically, the winners of the competitions were entitled to receive up to 30 hours of services, 1st runner up to 20 hours and the 2nd runner-up to 10 hours of services. Total services value over 18.000 euros.
We share below the links for the competition and the Finals video:

MITEF Greece Startup Competition 2019 video

Finals & Awards Ceremony - MITEF Greece Startup Competition 2019

MITEF Greece Startup Competition 2020 – Highlights

Finals & Awards Night - MITEF Greece Startup Competition 2020


Dracopoulos & Vassalakis LP – M&A - Porto Carras

We are proud to announce that Dracopoulos & Vassalakis LP advised the owners of Porto Carras SA, for the sale of Porto Carras, the largest holiday resort in Greece and one of the largest in Europe, including a marina, helipads, wine yard, olive grove, two casinos, conference centre, golf course, Spa centres and wide range of sports areas and facilities. The deal is considered as one of the most significant M&A deals of the recent years not only with regards to the consideration paid, but also due to the fact that said resort is considered as a landmark for the Greek tourist industry.


Privatisation of four Greek regional ports

We are proud to announce that Dracopoulos & Vassalakis LP has been appointed as legal advisor to the Hellenic Republic Asset Development Fund (the HRADF), jointly with Your Legal Partners and Alexiou – Kosmopoulos Law Firm, in relation to the privatization of the regional ports of Alexandroupolis, Heraklion, Igoumenitsa and Volos through the sale of majority stakes in the relevant sate-owned port operating companies.


Dracopoulos &
Vassalakis LP

4 Karageorgi Servias St.
10562, Athens Greece

+30 210 322 7000
+30 210 322 7111

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