Weekly M&A Debrief (23-29/3/2026)

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 technology sector. The deal supports the group’s strategy to expand internationally while reinforcing its focus on both organic and inorganic growth.

The Target

Resitech S.A. is a Cyprus-based technology company specializing in B2B platforms for the real estate sector, with operations in Greece and Cyprus. The company provides software-as-a-service (SaaS) solutions focused on asset management, digital data storage and transaction support, including blockchain-based document handling systems.

The Buyer

Qualco Group is a Greece-based technology company providing software and digital solutions primarily for the financial services sector. The company develops platforms and services that support credit management and business process automation, operating across multiple international markets.

Revenue – 2024: €183.8m 

EBITDA – 2024: €38.3m 

Net Income – 2024: €15.6m 

Net Debt – 2024: €50.4m 

Leverage – 2024: 1.32x 

2) Antenna Enters Italian Market with GEDI Takeover

Greek media group Antenna Group has agreed to acquire Italian publishing group GEDI Gruppo Editoriale from Exor, in a cross-border transaction that marks its entry into the Italian market, with market sources indicating a valuation of around €120m. The deal includes a diversified portfolio of media assets led by flagship newspaper La Repubblica, alongside digital platforms and radio stations.

The Target

Italian media group GEDI Gruppo Editoriale is a leading multi-platform publisher with a diversified portfolio spanning national newspapers, radio networks and digital media assets.

The Buyer

Greek media group Antenna Group (ANT1) is a leading international media and entertainment platform with a diversified portfolio spanning free-to-air television, pay TV, radio, digital streaming and content production, with operations across Europe and international markets.

Revenue – 2024: €96.9m

EBT – 2024: €3.2m

3) Bright Signs MoU for Minority Stake in Real Group

Greek consulting and technology group Bright Group has signed an MoU to acquire a 33.4% stake in media group Real Group, controlled by Nikos Hatzinikolaou, marking its entry into the media sector.

The Target

Greek media group Real Group, founded by Nikos Chatzinikolaou, is a leading multi-platform media platform with assets spanning radio (Real FM), print (Real News), and a portfolio of digital news and lifestyle websites.

Revenue – 2024: €5.9m

EBIT – 2024: (€1.9m)

Net Income – 2024: (€2.1m)

The Buyer

Greek consulting and technology group Bright Group is a professional services platform focused on digital transformation, business advisory and technology solutions, serving corporate and institutional clients across sectors with an emphasis on data, analytics and operational optimization.

EBITDA – 2024: €8.0m

Net Income – 2024: €8.0m

REAL ESTATE

1) H.I.G. Realty completes $1.6 billion recapitalization of Ella Resorts and OB Streem

H.I.G. Realty Partners closed on Wednesday a $1.6bn recapitalization transaction involving two of its major Greek operating platforms: Ella Resorts and OB Streem. The transaction was executed through the creation of a continuation fund, a structure that allows H.I.G. to retain ownership and management of these assets while providing liquidity options to original investors. The deal also injects fresh capital into both platforms to fund ongoing development projects, operational upgrades, and further acquisitions within the region. H.I.G. Capital is operating this transaction through its real estate arm, H.I.G. Realty, a global alternative investment and private equity firm.

The Assets

Ella Resorts: A hospitality management company that oversees a portfolio of resort properties across various Greek tourist destinations. Its business model centers on acquiring, renovating, and operating large-scale beachfront hotel facilities.

OB Streem: A logistics and supply chain enterprise. The company aggregates multiple logistics assets, warehousing facilities, and transportation networks to provide integrated freight forwarding and distribution services throughout Greece and surrounding corridors.

FINANCIAL SERVICES

1) Bank of Cyprus acquires loan and deposit portfolio from CDB Bank.

Bank of Cyprus has entered into an agreement to acquire a specific portfolio of performing loans and deposits from the Cyprus Development Bank. The transaction is priced close par value of the assets and is expected to close in the second half of 2026, pending regulatory approvals and a vote by CDB bank’s shareholders. KPMG acted as the financial advisor for this transaction.

The Assets

The transaction involves a carved-out portion of CDB bank's balance sheet, specifically targeting healthy financial assets while leaving non-performing loans behind. The transferred portfolio consists of active, serviced commercial loans valued at c. €150m, and a significantly larger pool of customer deposits worth c. €500m. Following the transfer, CDB Bank will continue to operate as a separate entity, managing its remaining assets and troubled loan portfolio.

The Buyer

Bank of Cyprus is a major banking and financial services group operating primarily within the Republic of Cyprus. The institution provides a standard range of banking operations, including retail and corporate lending, wealth management, and insurance services.

Revenue – 2024: €1.1bn

EBIT – 2024: €0.7bn

EBITDA – 2024: €0.7bn

Net Income – 2024: €0.5bn

RUMOURS AND OTHER DEVELOPMENTS

1) Antenna Brings in Alter Ego and Motor Oil for ANT1+ Joint Venture

Greek media group Alter Ego Media and energy group Motor Oil have agreed to acquire minority stakes in the company operating the ANT1+ subscription platform from Antenna Group, forming a three-way partnership to develop a revamped streaming platform. Under the transaction, Alter Ego will acquire a 33.3% stake for c. €5.5m, while Motor Oil will take a c.33.4% stake through a combination of share purchases and capital increase, resulting in equal ownership among the three parties. The partnership aims to reposition ANT1+ through enhanced content, upgraded technology and a broader digital offering in an increasingly competitive streaming market.

2) My Market Invests €7 million in Network Expansion

My Market has completed a total investment of €7.0 million to expand and modernize its retail network through the opening of a new branch in Crete and the renovation of an existing location in Athens. The project includes a €5.5 million greenfield investment in Heraklion, marking the company’s retail entry into the Cretan market, alongside a €1.5 million upgrade of its Alimos store. This strategic move aims to strengthen the group’s nationwide footprint and enhance consumer experience through digitized checkout solutions and specialized product zones.– 2024: €5.9m

EBIT– 2024: (€1.9m)

Net Income – 2024: (€2.1m)

The Buyer

Greek consulting and technology group Bright Group is a professional services platform focused on digital transformation, business advisory and technology solutions, serving corporate and institutional clients across sectors with an emphasis on data, analytics and operational optimization.

EBITDA – 2024: €8.0m

Net Income – 2024: €8.0m