Latham Advises on Aktor’s €650 Million Share Capital Increase

Latham & Watkins has advised the pool of banks in connection with non-preemptive share capital increase of Aktor S.A. Holding Company Technical and Energy Projects, a leading Greek large-scale construction, energy, and infrastructure group, through a fully marketed offering of 57,777,778 ordinary shares.

The offering price was set at €11.25 per share, for a total consideration of approximately €650 million. The transaction was conducted through (i) a public offering in Greece and (ii) an international institutional offering addressed, in the United States, to qualified institutional buyers in reliance on Rule 144A under the US Securities Act and, outside the United States, in compliance with Regulation S, as well as to qualified investors in the European Economic Area and the United Kingdom.

The proceeds of the offering are expected to fund capital expenditure plans and new investments to implement the company’s new strategic business plan.

The Latham team was led by partners Ryan Benedict and Jeff Lawlis, with Capital Markets lawyer Irene Pistotnik and associates Edoardo Picchi and Tom Breheny. Advice was also provided on UK tax matters by partner Karl Mah and counsel Lina Le Roux; on UK corporate matters by counsel Koushik K. Prasad; and on US tax matters by partner Rene de Vera with associate Jay Khurana.

BofA Securities, Goldman Sachs Bank Europe SE and UBS Europe SE acted as joint global coordinators and joint bookrunners; Piraeus Bank,, Ambrosia Capital, BETA Securities, CrediaBank, Euroxx Securities, National Bank of Greece, Optima bank, and Pantelakis Securities acted as co-managers.