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

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis TECHNOLOGY, MEDIA & TELECOMMUNICATIONS 1) Q&R Acquires 51% Stake in MTIS Quality & Reliability (Q&R) has reached an agreement to acquire a 51% majority stake in maritime technology firm MTIS for €2.7m. This acquisition allows the IT group to expand its footprint into the highly specialized maritime and shipping software sector, aligning with its recent st

By Nikos Tsolakis, Dimitris Chatziasimiadis, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis ENERGY 1) Schroders Greencoat and METLEN Strengthen Strategic Partnership Through Major 283 MW Solar Deal Schroders Greencoat has expanded its renewable energy footprint through the acquisition of a 283 MWp solar PV portfolio from METLEN Energy & Metals, marking a pivotal second transaction between the two firms. This strategic deal encompasses seven proj

By Nikos Tsolakis, Zeynep Giousemoglou, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis TRANSPORTATION 1) Aegean Acquires 45% Stake in Apella Aegean Airlines S.A., through its subsidiary Olympic Air, has acquired a 45% stake in Apella Monoprosopi S.A., a Greek aircraft and aviation material maintenance company. The transaction involves a purchase of existing shares and a share capital increase, with Dr. Nikos Kontogiannis retaining his 55% share

By Nikos Tsolakis, Zeynep Giousemoglou, Stavroula Bichta, Dimitris Machairas, Angeliki Stampouli and Thanasis Ntatsis MATERIALS 1) Kyklos Participations Reaches 95.96% Stake in Akritas Kyklos Participations S.A. completed its voluntary public offer for Akritas S.A., acquiring an additional 5.69% stake, corresponding to c.1,541,873 shares, and increasing its total ownership to 95.96% of voting rights. The offer was priced at €1.08 per share in cash and allows the bidder to exe

By Nikos Tsolakis, Zeynep Giousemoglou, Stavroula Bichta, and Dimitris Machairas FOOD & BEVERAGE 1) Elliniki Zymi: Add-On Deal Signals Exit Momentum Vivartia’s Elliniki Zymi, controlled by CVC Capital Partners, completed a low-profile add-on acquisition in 2025 with the purchase of Trofognosia SA, a Crete-based frozen dough producer. The deal comes as Elliniki Zymi posted more than €160m in turnover and improved EBITDA, pushing indicative valuations above €400m. Market source

By Nikos Tsolakis, Stavroula Bichta, Thanasis Ntatsis and Dimitris Machairas AEROSPACE & DEFENSE 1) Theon International Acquires 9.8% Stake in Exosens Theon International Plc has acquired an approximately 9.8% equity stake in French electro-optics group Exosens SA for €268.7 million, becoming the company’s second-largest shareholder. The transaction is strategically aimed at securing Theon’s access to critical components, notably image intensifier tubes used in night-vision s

By Nikos Tsolakis, Stavroula Bichta, and Dimitris Machairas REAL ESTATE 1) Dimand Sells Minion Property for €36.7m Dimand completed the sale of its wholly owned subsidiary Alkanor M.A.E. to ABINVEST, a subsidiary of Alpha Bank, for a consideration of approximately €36.7m. The sale price was determined based on the net asset value method, while Dimand’s total investment in the project was significantly lower than the final consideration, highlighting the value generated from t

By Nikos Tsolakis, Stavroula Bichta, and Dimitris Machairas FINANCIAL INSTITUTIONS 1) Alpha Bank Acquires Altius and Creates 3 rd Largest Insurance Player in Cyprus The Greek bank will acquire 100% of Altius Insurance Ltd. and subsequently merge its operations with Universal Life Insurance Ltd., a company of the Photos Photiades Group, creating a significant player in Cyprus’ insurance sector. A key condition for the transaction is that Alpha Bank will hold a majority stake

By Nikos Tsolakis, Stavroula Bichta, and Dimitris Machairas MATERIALS 1) Titan S.A acquired Traçim Çimento Sanayi ve Ticaret A.Ş. Titan S.A has signed a SPA for the acquisition of Traçim Çimento, an integrated cement production facility in Western Turkey, for c. €161.8m. The transaction is expected to be completed within the first quarter of 2026 and contributes to the Group’s TITAN FORWARD 2029 strategic roadmap. Transaction Value: €161.8m The Target Traçim Çimento specializ

By Nikos Tsolakis, Stavroula Bichta, and Dimitris Machairas TECHNOLOGY, MEDIA & TELECOMMUNICATIONS Antenna Group Acquires Options & Town Cinemas Antenna Group has acquired Options & Town Cinemas, expanding its cinema network to 11 multiplexes and 3 open-air cinemas with a total of 94 screens across major Greek cities such as Athens, Thessaloniki, Patras, Larissa and Volos. This move follows its earlier purchase of Village Roadshow Operations Hellas and forms part of a bro

By Nikos Tsolakis, Stavroula Bichta, and Dimitris Machairas TECHNOLOGY, MEDIA & TELECOMMUNICATIONS 1) Profile S.A. to Acquire 87.23% of Algosystems S.A. Profile Systems & Software S.A. has reached a binding agreement to acquire 87.23% of Algosystems S.A., marking a strategic expansion into the wider technology, automation, and metrology sectors. As this website had previously written, the move aligns with Profile’s broader plan to strengthen its position in integrated tec