The growth rate of public-private partnerships (PPPs) in Greece, which commenced almost four years ago and retained the same dynamics throughout the COVID-19 era despite the internationally unfavorable economic environment, remains undoubtedly impressive.

Entering into force on February 19, 2021, the EU Recovery and Resilience Facility aimed, according to the European Commission, “to mitigate the economic and social impact of the coronavirus pandemic and make European economies and societies more sustainable, resilient, and better prepared for the challenges and opportunities of the green and digital transitions.” CEE Legal Matters spoke with lawyers from Bulgaria, Greece, Hungary, Latvia, Poland, and Romania to learn what each country focused on, with its Recovery and Resilience Plan (RRP), and what difficulties lie ahead, now that these plans have been submitted to the EC.

Kyriakides Georgopoulos has advised Danone SA and Numil Hellas SA on their corporate restructuring, with Numil Hellas absorbing Danone's business in Greece.

A number of jurisdictions provide residency or even citizenship options against certain investments. Greece was one of the last countries to introduce a similar offering. An EU member state as well as a country of the Schengen area, Greece embodies the rule of law and the democratic principles of Western democracies, all in idyllic surroundings.

Lambadarios Law Firm has advised Athens Water Supply and Sewerage Company (Eydap) on an international tender procedure for the award of a five-year services agreement regarding the operation and maintenance of Psyttalia Wastewater Treatment Plant (WWTP).

Former Alpha Bank Chief Legal and Governance Officer Nikos Salakas has re-joined Koutalidis as a Partner and Head of the firm's Banking and Finance practice.

Despite current geopolitical challenges and the related inflation and price hikes, the current situation in Greece is much better compared to the COVID-19 crisis, with increasing interest in the country's hospitality sector, according to Drakopoulos Partner Michalis Kosmopoulos.

Bernitsas Law, working with Baker McKenzie, has advised Gastrade on the EUR 280 million financing and development of the Alexandroupolis independent natural gas system project.

Souriadakis Tsibris has advised Goldman Sachs on establishing a branch in Athens.

The Lambadarios law firm has advised the Hellenic Republic Asset Development Fund on the first stage of the new concession tender for the Attiki Odos motorway.

White & Case has advised Energean Oil & Gas S.A. on the provision of a loan from the Black Sea Trade Development Bank, which is supported by a guarantee and subordinated loan from the Greek State. Watson Farley Williams reportedly advised BSTDB on the deal.

In early 2021, Greece has introduced a new ambitious tax regime in order to motivate the opening of new employment positions and especially motivate Greeks who have moved abroad due to the severe economic crisis of 2010 to relocate back to Greece. In addition, salaried employees in the private sector, as well as average businessmen and freelancers who perform their activities in Greece while their tax residence is being registered abroad, can also benefit from the new favorable tax regime and transfer their tax residence in Greece.

Kyriakides Georgopoulos has advised Siemens Energy and Siemens Gas and Power Holding on the corporate restructuring of Siemens' Greek energy business.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

Kyriakides Georgopoulos has advised Artemis Strategic Investment Corporation on its USD 1 billion merger with Novibet.

An increasing number of Corporate/M&A deals, in particular, in travel and tourism, due to the country’s unique characteristics, and in the energy sector, accelerated by the war in Ukraine, has been the main focus of Bahas, Gramatidis & Partners, according to Partner Yanos Gramatidis.

The KLC Law Firm has advised Teva on the divestment of its Greek manufacturing site to PharmaPath.

The Lambadarios law firm, working with Akin Gump, has advised Piraeus Bank on the carve-out and EUR 300 million sale of its merchant acquiring business unit to Euronet Worldwide and on their long-term sales and distribution partnership. Papapolitis & Papapolitis advised Euronet.