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While the acquisition of real estate in Greece requires the one-time payment of tax for the acquisition of such property, whether due to a sale and purchase agreement, or due to an agreement on donation, or due to a deed of acknowledgment of inheritance, the right to real estate (right in rem) gives rise to taxation on this property. Rights in...
Read moreRecent Regulation (EU) 2018/3021 addresses unjustified online sales discrimination based on customers' nationality, place of residence or place of establishment within the internal market. It applies to all traders2, including online marketplaces, operating within the Union, in connection to transactions relating to the sales of goods or the provision of services within the Union. In particular, some customers are not able...
Read moreHistory of the Regulation of Games of Chance in Greece Games of chance, in which the participants wager a stake with valuables or money is not an activity that appeared in recent times. They were very common in ancient societies. Historians situate their origin in the third millennium BC in the Far East and Egypt. Such games were common in ancient...
Read moreThe constitutional context and the right to data protection The Greek Constitution, adopted in 1975 quite after the fall of military dictatorship, recognized explicitly the rights of privacy (Article 9) and secrecy of communications (Article 19). Article 9 guarantees both the asylum of home and inviolability of private and family life. Both theorists and the jurisprudence regarded Article 9 in combination...
Read moreThe main piece of legislation in Greece on Consumer Protection is the Law 2251/1994, which in large part implements European Union rules into the Greek legal order on a wide area of issues; general terms of contracts, regulations for liability of producers for defective products, unfair commercial practices, class actions to name a few. Nevertheless, the Law 2251/1994 is not...
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Cosco-owned Piraeus Europe Asia Rail Logistics (PEARL), Goldair, and the consortiums of Damco and the FDL Group, and Italian-owned Trainose and Sarmed have expressed interest in the concession of the 1.45-square kilometer plot in the Thriasio area by Hellenic Railways Organization (OSE) for the development of a new transit center.
This is the tender for the "Thriasio II" center, which is next to the 0.6 sq.km. "Thriasio I" plot, conceded to the ETBA VIPE - Goldair consortium.
March 31 is the deadline Brussels has set for the concession of the plot and if that is missed Greece will have to return 235 million euros of EU subsidies for the center’s development.
National Bank expects to collect about 400 million euros from the upcoming sale of a 32.6 percent stake in NBG Pangaea Real Estate Investment Company.
The transaction between National and Invel, which is currently the biggest shareholder in the property investment company, is expected to be completed by the end of the month, after a three-month extension was granted at the start of the year.
According to the existing agreement between the two sides, the price is predetermined and is based on the average level of Pangaea’s stock price during the last quarter of 2018, or about 4.9 euros per share.
Invel is expected to exercise its right to acquire NBG’s stake in the REIC, with the active participation of Invel’s shareholders – i.e. US investment group Castlelake and British investment fund Coller Capital.
This way they will further strengthen their holding in Greece’s leading property investment corporation after indirectly acquiring 49 percent of the Athens-listed company by obtaining a stake in Invel a year ago.
Once the transaction is completed, Invel will control 98 percent of Pangaea’s share capital, which according to bourse rules will require an opening-up process to new shareholders.
This is why the company’s management is preparing a 500-million-euro share capital increase.
The five main bidders in the first stage of the previous tender for Public Power Corporation’s four lignite plants at Meliti and Megalopoli threw their hats into the ring again on Friday, in addition to another company from China.
According to a formal statement by PPC, the six bidders who expressed an interest up to the deadline yesterday are the following: the consortium of Beijing Guohua Power Company Ltd and Damco Energy SA, China Western Power Industrial Co Ltd, the consortium of Sev.en Energy AG and Indoverse (Czech) Coal Investments Ltd, GEK Terna SA, ElvalHalcor SA, and the Mytilineos Group.
Although PPC’s management expressed satisfaction and the expectation “that with this participation and interest there will be a substantial tender process with a positive outcome for the divestment procedure,” the entire effort will in fact depend on the negotiations for the final text of the sale and purchase agreement (SPA). Talks on the SPA will begin as soon as the candidate investors receive the first draft from PPC, which is expected next week.
In terms of investment interest, the new tender differs from the previous one – which failed in 2018 – due to the participation of China Western Power; its arrival is the fruit of personal efforts by PPC head Manolis Panagiotakis, who traveled to China for that purpose a few days ago.
Still, Panagiotakis’s expectations that another Chinese company would participate, namely CMEC, which had previously expressed an interest in the existing Meliti plant and had signed a memorandum of cooperation with PPC, did not materialize. His hopes that companies from the US and Russia would also enter the bidding were also dashed.
There is also a degree of significance in the interest expressed by the other Chinese bidder, Beijing Guohua Power – with the Copelouzos Group (Damco Energy) – which had appeared in the previous tender but withdrew from the binding offers stage.
Without exception, all candidate investors appear reserved about the tender, as their final position will depend on the terms of the SPA as well as the new valuation of the units.
Οι επόμενες αγορές -στόχοι για τις ελληνικές εξαγωγικές επιχειρήσεις
Mε μεγάλη επιτυχία πραγματοποιήθηκε το 7th Greek Exports Forum, το συνέδριο – θεσμός για τον εξαγωγικό τομέα, την Πέμπτη 09 Μαΐου 2019, στο Athenaeum InterContinental Athens Hotel, παρουσιάζοντας το αύριο των ελληνικών εξαγωγών και τις προϋποθέσεις για την απρόσκοπτη ανάπτυξή τους.
To συνέδριο διοργανώθηκε φέτος για έβδομη συνεχόμενη χρονιά από την Ένωση Διπλωματικών Υπαλλήλων Οικονομικών & Εμπορικών Υποθέσεων (ΕΝΔΥ ΟΕΥ), την Ethos Events, σε συνεργασία με το οικονομικό και επιχειρηματικό portal banks.com.gr και το περιοδικό ΧΡΗΜΑ, υπό την αιγίδα του Υπουργείου Εξωτερικών.
Όπως ανέφερε κατά την έναρξη του συνεδρίου ο κ. Δημήτριος Χαλεπίδης, Πρόεδρος ΕΝΔΥ ΟΕΥ, Σύμβουλος ΟΕΥ Α΄, Διευθυντής, Β1 Διεύθυνση Στρατηγικού Σχεδιασμού, Υπουργείο Εξωτερικών, η ΕΝΔΥ ΟΕΥ αποτελεί έναν κλάδο του ελληνικού δημοσίου που βρόσκεται σε συνεχή επαφή με τις εξαγωγικές επιχειρήσεις, χωρίς κανένα κόστος. Ενδεικτικά ανέφερε ότι πέρυσι η Υπηρεσία, ανταποκρίθηκε μέσω της ηλεκτρονικής της πύλης σε 7.800 αιτήματα.
Read more: 7th Greek Exports Forum: Οι παράγοντες που διαμορφώνουν το μέλλον των ελληνικών εξαγωγών
PRESS RELEASE
9th Annual Capital Link CSR Forum
«Investments, Extroversion & Social Responsibility:
Pillars for Sustainable Development»
TUESDAY 25TH OF JUNE, 2019, HILTON ATHENS HOTEL
July 3nd, 2019
The 9th Annual Capital Link CSR Forum titled «Investments, Extroversion & Social Responsibility: Pillars for Sustainable Development», took place in Athens, on Tuesday 25th of June 2019, at Hilton Athens Hotel under the Auspices of the Municipality of the City of Athens.
With the participation of 40 companies, many distinguished speakers and large public attendance, the Capital Link CSR Forum was a great success. For the last nine years the Forum is regarded as a key platform combining rich educational and informational content with unique marketing and networking opportunities. The Forum focused on sustainable development and showcased the social responsibility initiatives that, in combination with innovation and extroversion, contribute to building a better future for Greece.
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GREEK LAW DIGEST
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CYPRUS LAW DIGEST
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ALBANIA LAW DIGEST
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Conference Review NOMIKI BIBLIOTHIKI and the Legal Guide "Greek Law Digest -The O...
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