GREECE
Bulgaria
Italy
Albania
Greece
Turkey
Athens
Law and Practice Contributed by: Stathis Orfanoudakis, Theodore Konstantakopoulos and Yolanda Antoniou-Rapti Zepos & Yannopoulos
Contents 1. Market Trends p.170 1.1 Technology M&A Market p.170 1.2 Key Trends p.170 2. Establishing a New Company, Early-Stage Financing and Venture Capital Financing of a New Technology Company p.170 2.1 Establishing a New Company p.170 2.2 Type of Entity p.171 2.3 Early-Stage Financing p.171 2.4 Venture Capital p.171 2.5 Venture Capital Documentation p.172 2.6 Change of Corporate Form or Migration p.172 3. Initial Public Offering (IPO) as a Liquidity Event p.172 3.1 IPO v Sale p.172 3.2 Choice of Listing p.173 3.3 Impact of the Choice of Listing on Future M&A Transactions p.173 4. Sale as a Liquidity Event (Sale of a Privately Held Venture Capital- Financed Company) p.173 4.1 Liquidity Event: Sale Process p.173 5.1 Trends: Spin-Offs p.174 5.2 Tax Consequences p.174 5.3 Spin-Off Followed by a Business Combination p.174 5.4 Timing and Tax Authority Ruling p.175 6. Acquisitions of Public (Exchange-Listed) Technology Companies p.175 6.1 Stakebuilding p.175 6.2 Mandatory Offer p.175 6.3 Transaction Structures p.175 6.4 Consideration and Minimum Price p.176 6.5 Common Conditions for a Takeover Offer/Tender Offer p.176 6.6 Deal Documentation p.176 4.2 Liquidity Event: Transaction Structure p.173 4.3 Liquidity Event: Form of Consideration p.173 4.4 Liquidity Event: Certain Transaction Terms p.174 5. Spin-Offs p.174
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