Elias Neocleous & Co LLC

J.C Flowers USD 300 million acquisition of 30% stake in LMAX group

Provided Cyprus law advice and assistance to J.C Flowers, a leading private investment firm on their intended acquisition. LMAX Group, through LMAX Digital, is the 2nd largest bitcoin exchange globally. The deal completed 31 December 2021.

Sazka Group financial restructuring

Advised SAZKA Group, a leading multinational lottery operator in relation to its high-yield bond offering of €600 million (the “Offering”) in combined aggregate principal an amount of notes comprising €200 million of additional (tap) 3.875% senior secured notes due 2027 issued by SAZKA Group a.s. and €400 million in aggregate principal amount of senior secured floating rate notes due 2028 issued by Allwyn Entertainment Financing (UK) plc. The deal completed February 2022.

Energean PLC $450 Million High Yield Bond Offering

Elias Neocleous & Co LLC in collaboration with Latham & Watkins represented an international bank consortium in connection with a US$450 million offering of Rule 144A/Reg S high yield senior secured notes issuance by Energean PLC, an international independent gas-focused oil & gas company focused on the exploration, development and production of gas and oil assets in the Mediterranean and listed on the London Stock Exchange as well as the Tel Aviv Stock Exchange. Proceeds will be used to repay and cancel commitments under Egyptian and Greek reserve-based lending facilities, including Greek subordinated debt, and for general corporate purposes. Our role completed in November 2021.

Euro 1.57 bn cash takeover of Globalworth

Acted on behalf of Hogal Lovells LLP and CPI Property Group on its €1.57bn joint all cash takeover with Aroundtown SA of Globalworth Real Estate Investments Limited (“Globalworth”), a Guernsey incorporated company whose shares are traded on the AIM Market of the London Stock Exchange. The Offer was made via the Cyprus entity Zakiono Enterprises Ltd and the Cyprus JVCo Tevat Limited. We reviewed and advised on inter alia the structuring documents and also provided tax advice. We also provided Cyprus law input on the offering memorandum, the shareholders’ agreement, the subscription agreement and issued a Cyprus law reliance opinion in favour of the joint financial advisers.

Peoplecert Wisdom Ltd financial restructuring

Acted on behalf of LATHAM & WATKINS LLP (London) and Morgan Stanley & Co. International plc and National Bank of Greece S.A. in relation to the €300,000,000 5¾% Senior Secured Notes due 2026 issued by PeopleCert Wisdom Issuer plc a company incorporated under the laws of England and Wales as part of a complex restructuring completed August 2021.