News May 19 , 2020

Koutalidis Law Firm advises Aktor Concessions S.A. as the sponsor on the 40-year Alimos Marina concession project

We would like to announce that our firm has advised the sponsor, Aktor Concessions S.A., on the concession of the exclusive right to own, use, administer, operate and exploit the Marina of Alimos for a 40-year period for a total consideration of EURO 57.5 million.

We advised on all aspects of the tender process leading up to the signing of the concession agreement on 13 May 2020 between Aktor Concessions S.A., its 100% subsidiary New Alimos Marina Concession Single Member S.A. as the concessionaire, the Greek State, the Hellenic Asset Development Fund and the Public Properties Company.

Our firm further advises on the project financing by way of a EURO 88,5 million bond loan arranged by Alpha Bank. Financial close is expected to be achieved within the course of the following months.

The investor has agreed to proceed with investments for the recreation of the marina and its surroundings raising up the total value of the agreement for the whole concession period to over EURO 177 million. The marina of Alimos is one of the biggest in the Eastern Mediterranean covering a sea area of almost 428,000 sq. m. and approximately 210,000 sq. m. of upland area, and the tender process is the first to be conducted through an electronic auction in Greece.