P&P advised Intracom Holdings on their strategic sale of its 27.6% shareholding in the listed entity KLM SA for €11.1 million to investors who will also participate in the share capital increase of Intracom Properties, a subsidiary of Intracom Holdings. The share capital increase will total €25 million, with €11 million covered by Intracom Holdings. Intracom Properties will remain the major shareholder of KLM SA and will subsequently be absorbed by the latter as already announced.
These actions represent the initial steps toward the implementation of the new Evropi Holdings structure, positioning the Intracom group in the insurance business.
The P&P team was led by Partner and Head of our firm’s Corporate and M&A, Evi Tsilou with Senior Associates Crysoula Giannopoulou and Anna Pavlaki advising on all legal matters.
Congratulations also to the KPC Finance team for their excellent work as financial advisors on this project.