Media-Saturn completes the reorganization of the Greek business
Papadimitriou – Pimblis & Partners were the legal advisers to Olympia Group SA in the transaction resulting in the strategic partnership of Olympia Group SA (Olympia), shareholders of Public stores in Greece and Cyprus, and Media-Saturn-Holding GmbH (MSH), shareholders of MediaMarkt stores in Greece.
The Firm’s involvement included mainly the following:
- Conduct of legal due diligence of the entity operating the MediaMarkt stores in Greece.
- They provided legal advice to Olympia on the establishment of a Joint Venture Company where the shares of the entities operating the Public stores in Greece and Cyprus and the MediaMarkt stores in Greece where contributed. As per the values calculated, the participation quota in the Joint Venture Company was established as 75% Olympia Group and 25% MSH. Negotiations on the agreement for the establishment and operation of the Joint Venture Company were challenging and unique mainly due to the fact that the traditional roles of “seller” and “purchaser” were not evident in the particular transaction, as both parties were contributing assets to the JV.
- The Firm also advised Olympia on the Shareholders’ Agreement, governing the decision-making process of the Joint Venture Company and veto rights of the minority shareholder (MSH).
Managing Partner, Nikos Pimblis and Partner Nikos Xenoyiannis were involved in the transaction, accompanied by the Firm’s team on M&A transactions.