DLA Piper has advised the National Bank of Greece on debt financing for Premia Properties’ acquisition of 100% of the share capital of Hoteles Sunwing S.A.U for EUR64 million.
Hoteles Sunwing S.A.U owns the 4-star, 252-room Sunwing Arguineguin hotel resort in Gran Canaria, Spain. The company was acquired from Airtours Resort Ownership Espana, S.L.U, a Nordic Leisure Travel Group subsidiary company.
Orestis Omran said: “This significant acquisition financing is a clear indication that the Greek banking system is going through a rapid internationalization of its activities. This adds another deal to the many transactions the firm has completed for Greek banks since the beginning of this year”.
DLA Piper’s cross-border team was led by partners Orestis Omran (Litigation and Regulatory, Brussels, and head of the firm’s Greece Country Group) and César Herrero Mazarío (Finance, Madrid), with support from senior associate Pablo Gonzalez Casanova, and associates Elina Bitzika and Victor Sanjuan. DLA Piper’s Madrid Real Estate and Corporate teams also provided significant support. The team worked closely with Sardelas Petsa law firm, which acted as Greek counsel to the National Bank.