Drakopoulos Senior Associate Sofia Angelakou talks about M&A in Greece in 2025.
CEELM: What would be your bet at this start of the year – will 2025 see more, fewer, or the same level of activity in terms of M&As in Greece?
Angelakou: The outlook for mergers and acquisitions in Greece is promising, with an anticipation of more deals compared to previous years.
At the same time, one cannot overlook the significant increase in corporate transformations and restructurings, with companies opting for demergers, spin-offs, or other divestitures as part of their strategy.
CEELM: What do you believe will be the main elements determining the results at the end of the year?
Angelakou: Greece’s commitment to reform over the past decade, together with its success in meeting significant fiscal targets, has restored confidence and attracted investors.
By the end of 2025, global macroeconomic conditions, geopolitical challenges, as well as the country’s increased focus on ESG principles and digital transformation and innovation will shape the M&A landscape in Greece.
CEELM: Are there any pieces of legislation on the horizon that you are keeping an eye on as potentially impacting the M&A market in 2025?
Angelakou: Although there is no specific stand-alone legislation governing M&A activity in Greece, it is essential to closely monitor the legal and regulatory environment, as changes in tax, labor, and competition laws, as well as ESG regulations and digital transformation, will play a key role in shaping investment activity, particularly if the target company’s operations are in the energy, technology, real estate, or tourism sectors.
CEELM: Who do you expect to be the main buyers in Greece in 2025?
Angelakou: The current investor landscape includes international strategic buyers (particularly from the US, EU, and the Middle East) as well as PE investors (both local and international). Also worth noting are well-funded local companies seeking to consolidate their operations and optimize their core businesses.
What all investors have in common is their high level of knowledge, expertise, and sophistication in negotiating the structure, terms, and timeframe of each transaction and implementing a risk-based approach in their dealings to minimize potential risks.
CEELM: What do you expect will be the most attractive targets in Greece in 2025, and what will make them so?
Angelakou: In 2025, the most attractive M&A targets in Greece are expected to be in sectors with high growth potential that align with global trends, including logistics, technology and digital transformation, energy (especially with a focus on renewables), tourism, and real estate.
Not only do these sectors align with emerging global shifts, but they also capitalize on Greece’s strategic location, available EU funding, and strong growth potential.
This article was originally published in Issue 12.1 of the CEE Legal Matters Magazine. If you would like to receive a hard copy of the magazine, you can subscribe here.
