Author: Marietta Pitta

Kaimakliotis LLC advises the Founders of Cypriot olive oil producer Cleanthi Alpha-Olenic Ltd on the sale of a 49% share to Zinzino AB (Publ.) on the acquisition and related JV arrangements

Posted on | by Marietta Pitta

We are delighted to have successfully advised the founders and sellers of a 49% share in Cypriot olive oil producer Cleanthi Alpha-Olenic Ltd and the strategic joint venture with Zinzino AB, a global direct sales company from Scandinavia specialising in test-based, personalised dietary supplements and scientific skincare, a company whose shares are listed on the Nasdaq First North Premier Growth Market.

Cleanthi Alpha-Olenic is a Cypriot olive oil producer with a unique and patented process of pressing olive oil originating from certified Koreneiki olives from orchards owned by farmers for several generations without the use of artificial fertilizers or pesticides. The manufacturing process enables the production of olive oil with up to 30 times the polyphenol content of regular olive oil.

Going forward, Zinzino intends to expand production at Cleanthi to secure olive oil supply for the increased internal demand arising from Zinzino’s global expansion and high sales growth. At the same time, external revenues for Cleanthi can be increased similar to the model previously used successfully for the Zinzino group’s manufacturing unit, Faun Pharma AS in Norway.

The Kaimakliotis team was led by Pavlos Kaimakliotis (Partner) and Panayiota Pieri (Counsel).

Kaimakliotis advises Prosegur Change on its launch of foreign exchange services at Larnaca and Paphos airports

Posted on | by Marietta Pitta

We are delighted to have successfully advised Prosegur Change, the leading foreign currency and financial services provider, on all legal and regulatory aspects in relation to its successful launch of foreign exchange services at Larnaca and Paphos airports, including with respect to its required approval and licence from the Central Bank of Cyprus.

This marks the first foray into the Cypriot market for Prosegur Change, the currency exchange division of one of the world’s leading cash services companies, Prosegur Cash. Prosegur Change opens four branches and four multi-currency ATMs at Larnaca International Airport, plus one branch and one ATM at Paphos International Airport.

Given the critical services rendered, the Central Bank of Cyprus licensing process had to be undertaken on an expedited way, which makes the success of this launch even more remarkable.

The Kaimakliotis team was led by Alexandros Apostolatos (Partner), Koula Fili (Partner), Mikaella Panagi (Associate) and Maria Spyrou (associate).

Kaimakliotis LLC advises Searchlight Capital Partners on the acquisition of a majority stake in Celestyal Cruises

Posted on | by Marietta Pitta

Kaimakliotis LLC advised Searchlight Capital Partners, a leading global private investment firm, on all aspects of Cyprus law, in relation to its agreement to acquire a majority stake in Celestyal Cruises and related debt financing arrangements. As part of the transaction, Searchlight will also invest in a new holding company, Celestyal Holdings, to propel Celestyal’s growth strategy and accelerate its fleet renewal plan.

Celestyal Cruises, based in Cyprus, is a leading cruise operator in the Greek Islands and East Mediterranean. It is a subsidiary of Louis PLC, founded in 1935 as the first travel agency in Cyprus.

Searchlight is a global private investment firm with over $9 billion in assets under management and offices in New York, London and Toronto. Searchlight seeks to invest in businesses where its long-term capital and strategic support accelerate value creation for all stakeholders.

Willkie Farr & Gallagher LLP acted as lead counsel to Searchlight and Louis PLC was advised by Hill Dickinson, London.

The Kaimakliotis LLC team was led by Pavlos Kaimakliotis (Partner), Panayiota Pieri (Senior Associate) and Alexandros Apostolatos (Senior Associate), assisted by Maria Spyrou (Junior Associate) and Marietta Pitta (Junior Associate).