14 July – LAWFUEL – The Law News Network – Allen & Overy advised UBS Limited as underwriters on the Euro 1.25 billion rights issue by Agricultural Bank of Greece (ATEbank). The Greek Government, which has a majority shareholding in the bank, subscribed for its full entitlement of 527.6 million shares, whilst UBS underwrote the balance. The transaction closed on 4 July.
The Allen & Overy team was led by Milan-based partner, Max Aaron, with assistance from associate Alex Stathopoulos. Karatzas & Partners advised UBS as to Greek Law.
Max Aaron comments:
“A&O has a strong track record in Greek ECM deals and our role on ATEbank’s equity offering, one of the largest for some time, affirms the foothold that we have developed in this market. In recent years, we have advised on the international aspects of a number of high-profile transactions in this jurisdiction, including Public Power Corporation S.A.’s privatisation via an IPO and subsequent secondary offering, amongst others.”