M&A Deals in Greece

Those planning to conclude an M&A deal in the Republic of Greece should keep in mind that purchasers get less info about a company they’re going to buy when it comes to unsolicited bids. In particular, they can get:

• information available to the general public;
• data that can be obtained without infringing EU legislation on market abuse.

There’s also a risk of the BoD of a target company making a negative conclusion about a bid to acquire a business in the Republic of Greece.

M&A Deals in the Republic of Greece: Safety

Please note that protection of transactions is uncommon in the country. Also noteworthy is the fact that enforceability of agreements regulated by Greek legislation is limited by the basic provisions of private law applicable to them. There’s also financial aid regulations limiting the ability of purchased companies to successfully complete an M&A transaction in the Republic of Greece.

Target companies & their stakeholders have a right to recover the damages incurred in the event of cancellation of a tender bid. Unless exceptional circumstances arise requiring HCMC’s permission, tender bids may not be withdrawn.

Government’s Involvement

Government regulators can impose restrictions on or impact M&A deals in the Republic of Greece for reasons of national security. However, that only happens if:

• the country’s legislation specifically provides for it; 
• there’s an agreement on privatization or other ADF-related transactions undertaken by parties.

Regulation of Bids

To reduce the danger of M&A deals not being concluded, parties normally agree on obtaining any necessary permits with regulators & setting precedents. Conditions under which a tender make take place are:

• obtaining the required permits; 
• issuing securities.

Improperly terminating a sales contract requires paying a reimbursement that covers the financial & temporal resources expended on concluding an M&A deal in the Republic of Greece. Normally, clauses related to imposition of penalties are negotiable.

As regards buying back shares in the Republic of Greece, purchasers must:

• submit their bid for approval of a target company’s stakeholders ; 
• come up with a monetary recompense equal to the amount required for conducting an M&A transaction in Greece.