By George Moschovis and Theodoros Kouzigiannis RUMOURS AND OTHER DEVELOPMENTS 1) Alpha Bank Completes Squeeze-Out of Alpha Trust to Reach 100% Stake Alpha Bank acquired the remaining 69,324 voting shares of Alpha Trust for €20.20 per share in cash, completing its squeeze-out process on 24 August 2026 and increasing its total ownership to 100%. 2) Energean Reported in Exclusive Negotiations to Acquire BP's Egyptian Assets for up to $1bn According to Reuters, citing two peopl

By George Moschovis and Theodoros Kouzigiannis ENVIRONMENTAL SERVICES AKTOR Acquires 75% of HELECTOR and THALIS from Motor Oil at €300m Enterprise Value AKTOR signed a binding share purchase agreement with Motor Oil for 75% of MANETIAL, the 100% parent of HELECTOR and THALIS E.S., at an agreed enterprise value of €300m on a 100% basis. The consideration for the 75% stake will be determined at completion, after deduction of net debt and the further adjustments provided for i

By George Moschovis and Theodoros Kouzigiannis ENERGY PPC Acquires 277.3 MW Renewables Portfolio in Poland PPC agreed to acquire a wind and solar portfolio of 277.3 MW total capacity in Poland from EDP Renewables Polska. Through this acquisition PPC enters the Polish market for the first time, one week after its entry into Hungary, advancing its 2026–2030 strategic plan and its target of 2.2 GW of renewables and storage across the CEE region. The consideration was not discl

By Dimitris Machairas and George Moschovis TMT Motor Oil Acquires 50% of Nova ICT, Places 30% with EOS and Latsco Motor Oil Hellas, through its subsidiary IREON Technologies, acquired Nova's 50% of Nova ICT for €60.5 million, valuing Nova ICT at €121 million. The seller was Nova, a member of United Group backed by BC Partners. The remaining 50% is held by Pinston Holdings, the Vardinoyannis family investment office. One day later IREON placed 30% jointly with EOS Capital Pa

By Dimitris Machairas and George Moschovis DEFENCE EFA GROUP Acquires 100% of SSMART EFA GROUP, a Greek defence-technology group, acquired 100% of SSMART, a specialist in radar systems and Combat Management Systems for naval platforms. Transaction terms were not disclosed. The acquisition strengthens EFA GROUP's radar and CMS capabilities and supports the group's goal of developing indigenous high-technology products for the Hellenic Armed Forces. The Target SSMART (Signa

By Dimitris Machairas and George Moschovis Greek M&A Debrief: Οι κινήσεις των QnR, D-Marin και Kayak ξεχωρίζουν σε μία ακόμη δυναμική εβδομάδα για την ελληνική αγορά Η εβδομάδα 06–12 Ιουλίου 2026 χαρακτηρίστηκε από έντονη κινητικότητα στους κλάδους της τεχνολογίας, των υποδομών και των τροφίμων, με σημαντικές εξαγορές και επενδύσεις που ενισχύουν τη διεθνή παρουσία ελληνικών επιχειρήσεων. Παράλληλα, συνεχίστηκαν οι εξελίξεις στους τομείς των χρηματοοικονομικών υπηρεσιών, το

By Dimitris Machairas and George Moschovis INFORMATION TECHNOLOGY QnR Acquires 51% Stake in E-XIM IT for up to €6.9m Quality & Reliability (QnR), agreed to acquire a 51% stake in E-XIM IT, a Poland-based digital transformation company listed on the Warsaw Stock Exchange's alternative market. The consideration of up to c. €6.9m is payable in five instalments, two fixed and the rest earnout-linked, with an option over a further 31.62% in 2029 and 58% of voting rights acquired

By Dimitris Machairas and George Moschovis FASHION & APPAREL Camper Acquires 60% Stake in Ancient Greek Sandals Camper, a Spanish footwear group, acquired a 60% stake in Ancient Greek Sandals. Co-founders Nikolas Minoglou and Christina Martini and co-owner Ioannis Vagenas will retain the remaining 40% and continue as CEO, Creative Director and Chief Brand & Marketing Officer respectively. The transaction is the first majority acquisition in Camper's history. Ancient Greek S

By Dimitris Machairas and George Moschovis TECHNOLOGY DECA Investments Acquires 40% Stake in Dotsoft DECA Investments, through the fund Diorama II, acquired a 40% stake in Dotsoft, a Greek provider of smart-city and digital transformation software listed on the Euronext Athens EN.A. Growth market. The fund acquired 1,248,000 voting shares directly on 23 June 2026, representing 40% of share capital and voting rights. CEO Anastasios Manos retains a significant holding and conti

By Dimitris Machairas and George Moschovis TELECOMMUNICATIONS PPC and Vodafone to Form 50-50 fiber-to-the-home Joint Venture PPC and Vodafone Greece signed a non-binding term sheet to form a 50-50 joint venture in wholesale fiber-to-the-home (FTTH) infrastructure, combining their respective subsidiaries PPC FiberGrid and Fiber2All. The new entity will operate as a neutral wholesale provider, offering open access on equal terms to all telecommunications operators, with the con

By Dimitris Machairas and George Moschovis MEDIA, GAMING & ENTERTAINMENT Bally's Intralot Agrees Terms to Acquire Evoke for £243.1m Bally's Intralot agreed terms to acquire the entire share capital of evoke, a London-listed online betting and gaming operator. Under the offer, evoke shareholders will receive 0.537 new Bally's Intralot shares per evoke share, to be issued and admitted to Euronext Athens through a share capital increase, with a cash alternative of £0.52 per shar

By Dimitris Machairas and George Moschovis PROFESSIONAL SERVICES TREK Development Acquires 51.23% Stake in Terra Advisory Trek Development acquired a 51.23% stake in Terra Advisory for a transaction value of €0.5m, implying an enterprise value of €0.9m, with a call option to acquire a further 30% at the same valuation. The transaction was structured as a combination of cash and a share capital increase, with a profitability earn-out clause tied to targets for 2026, 2027, an

By Dimitris Machairas and George Moschovis E-COMMERCE Blackstone Acquires Majority Stake in Skroutz from CVC for approximately €500m Blackstone has entered into a definitive agreement to acquire a majority stake of more than 75% in Skroutz from CVC Capital Partners Fund VII, in a transaction that values the company at c. €635 million. The founders will retain a minority stake in the business and continue to run it, with George Chatzigeorgiou remaining CEO. The acquisition i

By Dimitris Machairas and George Moschovis ENERGY Aktor Acquires 51% Stake in Sun Force Two for Approximately €20.4m Aktor Renewables, a subsidiary of Aktor Group, acquired a 51% stake in Sun Force Two, a photovoltaic project development company, from Greenline for €20.4m. The remaining 49% stake is retained by Greenline, which acts on behalf of the Mitsiolidis and Bozatzidis families and related individuals. The acquisition forms part of Aktor's plan for the expansion of its

By Dimitris Machairas and George Moschovis REAL ESTATE 1) Extendam and Redcliffe Capital Acquire Radisson Blu Zaffron Resort in Santorini from Fais Group for €28.3m A joint investment vehicle comprising four funds managed by Extendam and Redcliffe Capital has signed a binding agreement to acquire 100% of the share capital of L.S. Santorini Kamari Xenodocheiaki S.A for €28.3m. The company is a subsidiary of Fais Group and owns the Radisson Blu Zaffron Resort in Kamari, Santori

By Dimitris Machairas and George Moschovis FOOD & BEVERAGE 1) Elikonos 3 Invests in Vamvalis Foods Elikonos 3 S.C.A. SICAV-RAIF, a fund managed by Elikonos Capital, completed an investment in Vamvalis Foods S.A., a Thessaloniki-based processor of nuts, dried fruits and cereal bars. The company operates under private label for European retail and wholesale groups as well as its own brands such as Pellito, Instabar and Terrabites. Proceeds from the transaction will be used for

By Dimitris Machairas and George Moschovis Thrace Group Acquires Australian Packaging Specialist BHA Holdings Thrace Group announced that its wholly owned subsidiary, Synthetic Holdings Ltd, completed on 30 March the signing and closing of a binding definitive agreement for the acquisition of 100% of the share capital and voting rights of BHA Holdings Pty Ltd, for total consideration of AUD 23.2 million (c. €14 million). The acquisition financed through external borrowing aim

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis TMT 1) Qualco acquires 34% stake in Resitech Qualco has acquired a 34% minority stake in Resitech for a total consideration of €640,000. The investment was structured through a combination of share capital increase and acquisition of existing shares. Following the transaction, Qualco will hold 34% of the company, expanding its presence in the real estate

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis FINANCIAL SERVICES 1) Optima Bank to Acquire Euroxx Securities Optima Bank has submitted a non-binding offer for the acquisition of an 80.84% stake (minimum of 67%) in Euroxx Securities. The indicative consideration is up to €65.5 million, depending on the final stake. The transaction is subject to due diligence, negotiations and regulatory approvals. The

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis REAL ESTATE 1) Ellaktor S.A. Completes Acquisition of Office Asset from Prodea for €44 Million Landmark Holdings S.M.S.A., a subsidiary of Ellaktor Group, has acquired a fully leased office asset from Prodea Investments for €44 million. The 8,546 m2 six-story building is situated at 15 Vasilisis Sofias Ave., Athens, on a 2,036 m2 land plot and includes un