GREECE Law and Practice Contributed by: Stathis Orfanoudakis, Theodore Konstantakopoulos and Yolanda Antoniou-Rapti, Zepos & Yannopoulos
draft demerger deed needs to be examined by one or more independent expert/s (eg, certified public accountants, auditing firms). The expert/s will then need to produce a written report on the draft demerger deed, addressed to the com- pany. As regards takeover bids, the offeror must engage a Greek or EU credit institution or invest- ment firm to act as the offeror’s financial adviser and verify the accuracy of the information mem- orandum. In addition, the board of directors of the target company must also prepare and pub- lish an opinion on the takeover bid, which must be accompanied by a detailed report prepared by a financial adviser with the same characteris- tics (ie, a Greek or EU credit institution or invest- ment firm).
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