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Merger and acquisition - M&A - activity in Karditsa follows Greek national company, tax, employment and competition law, together with European Union rules where applicable. Karditsa is part of the Thessaly region and transactions are handled through national registers and local authorities - for example company filings are made with the General Commercial Registry - GEMI - while property matters are handled through the Hellenic Cadastre or local land registries. Local courts, notaries and professional advisers in Karditsa handle the practical steps of closing a deal, while regulatory approvals and tax treatment follow Greek law. Whether you are buying a small local business, merging two regional companies or taking over assets, the framework combines national legal requirements with local formalities that an adviser based in or familiar with Karditsa can navigate efficiently.
M&A transactions involve legal, financial and regulatory risks that are often not obvious to people without specialised experience. You will typically need a lawyer if you are:
- Buying or selling a business or significant business assets in Karditsa or the surrounding area.
- Entering into a share purchase, asset purchase, statutory merger or demerger.
- Dealing with transfers of real estate, leases, licences or permits tied to the business.
- Facing employee transfer issues - for example obligations that follow the business to the buyer under employment law.
- Required to secure competition clearance, sectoral approvals or foreign investment screening.
- Structuring the deal for tax efficiency and compliance, including VAT, transfer taxes and capital gains treatment.
- Managing liability allocation, indemnities, escrow arrangements or warranty protections.
- Resolving disputes, enforcement issues or pre-closing claims that could affect the value of the transaction.
Key legal aspects you should know when pursuing an M&A in Karditsa:
- Corporate Forms and Approvals - Greek companies operate under a few main legal forms - societe anonyme - AE - limited liability companies - EPE and IKE - and partnerships. Each form has specific governance and transfer rules. Shareholder or member approvals are usually required for major transactions and company statute amendments must be registered with GEMI.
- Asset Purchase vs Share Purchase - An asset sale transfers specific assets and liabilities and can be used to exclude undesired obligations. A share purchase transfers ownership of the target company and generally brings all assets and liabilities with it. Choice affects taxes, employee transfers and registration formalities.
- Notary and Registration Formalities - Transfers of real estate and certain corporate acts require a public deed before a notary and registration with the Hellenic Cadastre or local land registry and with GEMI for corporate changes.
- Competition and Regulatory Clearance - Transactions that meet defined thresholds or that may affect market competition can require notification to the Hellenic Competition Commission and possibly to EU authorities for larger cross-border deals. Sectoral regulators may need to review deals in regulated industries such as energy, transport, banking, healthcare or defence.
- Employment Law - Greek law implements EU rules on transfers of undertakings - so employees usually transfer with the business and their terms, seniority and accrued rights are preserved. Consultation and information obligations toward employee representatives or unions can apply.
- Tax Considerations - Tax consequences differ between asset and share deals. Transfer taxes, VAT, capital gains tax and stamp duties may apply. Sellers and buyers should obtain tax clearance and consider potential liabilities from past tax audits.
- Environmental, Planning and Permit Issues - Depending on the business, environmental liabilities, planning and municipal permits can be crucial. Local inspections or licences held in Karditsa should be checked for transferability and compliance.
- Dispute Resolution and Courts - Commercial disputes are handled by the competent civil courts - often the Court of First Instance in Karditsa for local matters - and arbitration is commonly used in M&A contracts for speed and confidentiality. Enforcement of judgments follows national procedures.
Local counsel can offer practical advantages - knowledge of local registries, notaries, tax offices and customary timelines. Counsel from Athens or abroad can handle the legal drafting and strategy, but you will still likely need a local lawyer or cooperating firm to appear before local authorities, register documents with GEMI and liaise with the local court, notary and tax office.
An asset purchase transfers specified assets and often excludes certain liabilities - useful if you want to avoid hidden obligations. A share purchase transfers ownership of the legal entity - taking on its assets and liabilities. Tax treatment, employee transfer rules and the need for third-party consents can differ significantly between the two structures.
Yes. If the combined turnover of the parties or the transaction’s market effects exceed statutory thresholds, notification to the Hellenic Competition Commission will be required. For very large cross-border deals EU merger control can apply. Failure to secure required clearance can delay or invalidate a transaction, so early assessment is essential.
Employees typically transfer with the business under national law implementing EU rules on transfers of undertakings. Their existing contracts, accrued rights and collective agreements are preserved. Employers must also meet consultation and information obligations toward employee representatives prior to the transfer.
Tax issues differ by deal type. Asset sales can trigger VAT, transfer taxes and potential capital gains for the seller. Share sales typically trigger capital gains tax and may be subject to different withholding rules. There are also notary fees, registration fees and possible local taxes. A tax adviser should be engaged early to model the deal.
Standard due diligence covers legal, tax, financial, commercial, employment, environmental and regulatory checks. In Karditsa you should pay special attention to property titles, municipal permits, licences for regulated activities, labour and social security liabilities, outstanding tax audits and any environmental liabilities tied to local land or facilities.
Yes for certain acts. Transfers of real estate, changes to share capital or certain types of corporate reorganisations commonly require a public deed before a notary and subsequent registration with GEMI and the Cadastre. Your lawyer will identify which closing documents must be notarised.
Generally yes. Foreign nationals and entities can buy Greek companies and property, but there can be additional requirements in strategic sectors or limits on non-EU ownership in certain industries. Some transactions may be subject to national security or public interest screening. Advice from local counsel is important if you are a foreign buyer.
Timelines vary widely. Small asset deals without complex approvals can take a few weeks to a couple of months. Larger share purchases, transactions requiring competition or sectoral clearances, or deals involving real estate and complex due diligence can take several months. Planning for regulatory timelines and potential delays is prudent.
Costs depend on transaction complexity, deal value and the scope of work - due diligence, negotiation, documentation, closing and post-closing follow-up. Fee models include hourly rates, fixed fees for defined tasks and combinations with success fees. Ask for a clear engagement letter that sets out scope, fee estimate and billing arrangements before work begins.
Useful bodies and organisations to consult when pursuing M&A in Karditsa:
- General Commercial Registry - GEMI - for company registration and filings.
- Hellenic Cadastre - for property registration and title searches.
- Independent Authority for Public Revenue - AADE - for tax matters and certificates.
- Hellenic Competition Commission - for merger control and competition questions.
- Municipality of Karditsa - for local permits and municipal issues.
- Court of First Instance in Karditsa - for litigation and local judicial procedures.
- Karditsa Chamber of Commerce and Industry - for local business information and contacts.
- Karditsa Bar Association - for lists of local qualified lawyers and procedural guidance.
- Sectoral regulators - for regulated industries such as energy, transport, finance and health.
If you need legal assistance with an M&A in Karditsa, consider the following practical next steps:
- Gather basic information - corporate documents, financial statements, a list of assets, leases, licences, employee lists and recent tax returns.
- Schedule an initial consultation with an experienced local M&A lawyer to discuss objectives, timeline and major legal issues.
- Sign a confidentiality agreement - NDA - before sharing sensitive information.
- Agree the scope of work and engagement terms in writing - define fees, deliverables and timing.
- Conduct targeted due diligence - legal, tax and regulatory - to identify material risks and liabilities.
- Develop the deal structure - asset vs share purchase, tax planning and regulatory strategy.
- Negotiate and draft transaction documents - letter of intent, share purchase agreement or asset purchase agreement, escrow, warranties and indemnities.
- Complete required filings and approvals - notary deeds, GEMI registrations, tax clearances and competition notifications if needed.
- Plan post-closing integration and compliance steps - register changes with authorities, settle employee transition matters and update licences and contracts.
Working with a local legal team that coordinates with tax, accounting and technical advisers will help reduce risk and smooth the transaction process in Karditsa.
