Marina of Alimos’ Concession Grant
Koutalidis has advised Aktor Concessions S.A. on its successful bid to own, use, administer, operate, and exploit the Marina of Alimos.
The concession, which is good for 40 years, was granted by the Hellenic Asset Development Fund. Your Legal Partners acted as Greek law counsels to Hellenic Republic Asset Development Fund; Dracopoulos & Vassalakis acted as co-counsel to HRADF.
Alimos Marina located South West of Athens is one of the largest marinas in Greece with 1000 permanent positions. “Our involvement included legal support during the tender process, drafting and negation of Concession Agreement and State Direct Agreement, legal support to HRADF in relation to financing documents, monitoring of the closing and Concession commencement”, explained Katerina Christodoulou, Partner who alongside Prokopis Linardos, co-led the deal project.
Speaking to Lawyer Monthly on the deal, they said: “The project was challenging since many long-lasting legal impediments related to the use of marina had to be lifted in view of the privatisation.”
Aktor Concessions will put forward a total of EUR 57.5 million euros, with the value of the agreement coming to a total consideration of at least EUR 177 million, including an annual concession fee and a share of revenues as a percentage of the marina’s annual turnover.