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Merger & Acquisition - M&A - activity in Acharnes follows the same national legal framework that governs corporate transactions across Greece, combined with practical local steps tied to the municipality, local courts and regional registries. Acharnes is located in the Attica region and most legal procedures, filings and regulatory contacts are handled through Athens-based authorities and registries. Typical M&A transactions include share sales, asset purchases, mergers of companies, restructurings and acquisitions of real estate or local business operations. Key legal areas that affect M&A work include company law, contract law, tax law, employment law, property and land register matters, and competition and sector-specific regulation.
Legal advice is crucial in M&A work because these transactions are complex and carry financial, regulatory and operational risks. Common situations where you will need a lawyer include:
- Structuring the deal so it is tax-efficient and legally valid.
- Conducting legal due diligence to identify liabilities, encumbrances and litigation risks.
- Drafting and negotiating the term sheet, share-purchase agreement, asset-purchase agreement and ancillary documents.
- Handling employee transfer issues and compliance with labour law rules when a business or undertaking is transferred.
- Securing regulatory approvals and preparing filings with competition authorities and sectoral regulators.
- Completing notarial acts, public registrations and filings with the General Commercial Registry - GEMI - and land registry.
- Resolving disputes that may arise before or after closing and advising on indemnities, escrow and warranties.
The following legal aspects are especially relevant for M&A activity in Acharnes and the wider Greek context:
- Company Law - Corporate transactions must comply with Greek company law and the articles of association of the companies involved. This covers shareholder approvals, quorum and majority rules for extraordinary general meetings, statutory valuation rules and the mechanics of mergers and share transfers.
- Transaction Type - The legal consequences differ for share deals versus asset deals. Share deals transfer company liabilities with the shares. Asset deals allow selective acquisition of assets and liabilities but may require consents from third parties.
- Competition Law - National merger control applies when transactions exceed thresholds or have a significant local or national effect. Cross-border or large domestic mergers may also be subject to EU merger control. Notification and clearance processes can affect timing.
- Employment Law - Employee rights transfer when a business or undertaking is transferred. Collective agreements, notice requirements, severance and consultation obligations must be managed carefully.
- Tax and Transfer Taxes - M&A transactions trigger corporate tax, capital gains tax, VAT in some asset transfers, stamp duties, transfer taxes and notary fees. Tax planning and clearance certificates may be required for a smooth closing.
- Real Estate and Land Registry - Property transfers are subject to cadastral checks, outstanding encumbrances and municipal obligations. The Hellenic Cadastre and local land registries must be checked for Acharnes properties.
- Regulatory Approvals - Regulated sectors like banking, insurance, energy, telecommunications, transport, food safety and defence often require prior approvals from the competent regulator.
- Public Filings and Registration - Post-closing corporate changes must be filed with GEMI, tax authorities and social security bodies. Notarial deeds are often required for share transfers in certain company forms.
- Local Permits and Zoning - For asset deals involving premises or operations in Acharnes, municipal permits, zoning and local planning rules administered by the Municipality of Acharnes and regional authorities may apply.
In a share sale you buy the legal owner of the business and inherit its assets and liabilities. In an asset sale you buy selected assets and possibly specific liabilities. Share sales are simpler for transferring entire businesses but carry hidden liability risk. Asset sales let you pick what you acquire but often need third-party consents and can trigger different tax consequences.
Clearance depends on the economic significance of the transaction, not on the municipality alone. If turnover or market share thresholds are met, you may need to notify the national competition authority or the European Commission for cross-border cases. Always assess thresholds early to avoid blocking the closing.
Timelines vary by complexity. Small deals can close in a few weeks after due diligence and negotiation. Medium to large transactions with regulatory approvals, real estate checks and third-party consents often take several months. Transactions requiring competition clearance or sectoral approvals can take many months up to a year.
Legal due diligence typically covers corporate documentation and ownership, contracts and customer relationships, employment and social security obligations, litigation and disputes, real estate title and encumbrances, intellectual property, regulatory compliance, permits and licences, tax liabilities and historic financial obligations. Environmental checks may be needed for certain assets.
When a business or undertaking is transferred, Greek labour law protects employees. Contracts are typically transferred to the new employer with existing terms and accrued rights. Employers must follow consultation and notification obligations and consider collective agreement implications. Employment-related liabilities usually remain with the transferring entity unless otherwise agreed and properly addressed.
Post-closing you normally need to file changes with GEMI, update tax records with the tax office, register changes with social security authorities and, if relevant, update land registry records for property transfers. Notarial deeds and publication in the Government Gazette may be required for certain corporate acts.
Yes. Foreign investors can acquire businesses in Acharnes, but sector-specific restrictions or a foreign investment screening regime may apply for strategic sectors. Compliance with anti-money laundering checks, immigration rules for non-EU managers and tax planning are additional considerations.
Key tax issues include transfer taxes, VAT treatment of asset sales, capital gains tax on sellers, withholding tax obligations, the tax basis of acquired assets, potential tax liabilities from past periods and availability of tax clearances. Structuring affects whether the transaction is treated as a share sale or asset sale for tax purposes.
Some acts must be notarised under Greek law, such as certain share transfers for specific company forms, real estate transfers and amendments of corporate charters. Many transactional documents can be private agreements, but critical deeds are often executed before a notary to secure enforceability and to complete registration steps.
Choose a lawyer or firm with experience in Greek corporate and transactional law, knowledge of local procedures in Attica, experience with tax and employment aspects and a track record of handling regulatory approvals. Ensure they can coordinate with notaries, accountants, tax advisers and sector specialists to cover all deal aspects.
Below are the types of public bodies and organisations that can help during an M&A in Acharnes:
- Municipality of Acharnes - for local permits, zoning and municipal obligations.
- General Commercial Registry - GEMI - for company registrations and public records.
- Hellenic Cadastre and local land registries - for property title searches and cadastral information.
- Hellenic Competition Authority - for merger control and competition-related queries.
- Independent Authority for Public Revenue - tax enquiries, VAT and transfer tax matters.
- Sectoral regulators - banks, insurance, energy, telecoms and transport regulators where applicable.
- Athens Bar Association and local law firms - for qualified legal practitioners in Attica.
- Regional Chamber of Commerce - for business information and local business environment guidance.
- Certified public accountants and tax advisors - for tax planning, accounting due diligence and financial structuring.
If you need legal assistance with an M&A in Acharnes, follow these practical steps:
- Gather basic information about the target company or assets - ownership documents, corporate charters, financial statements, licences and key contracts.
- Arrange an initial consultation with a Greek corporate lawyer experienced in M&A to discuss structure, risks and likely timelines.
- Authorise a targeted legal due diligence and obtain a checklist tailored to the transaction - include corporate, tax, employment, property and regulatory items.
- Decide on the preferred transaction structure - share sale, asset sale or merger - after receiving legal and tax advice.
- Negotiate and sign a term sheet or memorandum of understanding that sets main deal points and conditions precedent.
- Secure required regulatory and competition clearances early in the process and start local filings as soon as conditions permit.
- Prepare for closing - arrange notarial deeds, obtain tax clearance certificates if required, and file post-closing registrations with GEMI and other authorities.
- Plan post-closing integration, employment transfer arrangements and any ongoing warranty or indemnity dispute resolution mechanisms.
If you would like help locating qualified local counsel, preparing a due diligence checklist or reviewing initial transaction documents, seek a consultation with a lawyer who knows Greek M&A practice and the local administrative environment in Attica and Acharnes.
