Kelemenis advises on the demerger of two major leisure groups

Kelemenis & Co. has acted for the demerger of the Youtravel and the Aquis Hotels & Resorts groups. Following the decision of the two shareholders of the two groups (John Kent and Sheikh Tahnoon Bin Saeed Bin Shakboot al Nehayan of the Abu Dhabi Royal Family) to split their participations, the firm has been engaged in the negotiations, drafted the demerger agreement and its ancillary documentation and advised on the various shares transfers within the group (in Greece, the UK and Cyprus) through to completion. Work included tax advisory and compliance services that focused on the direct and indirect tax issues and on tax procedures in Greece and abroad for the completion of the demerger.