A panel hosted by Harris Kyriakides has presented the trends on Cyprus Mergers and Acquisitions in the Cyprus Energy Sector at the Legal 500 GC Cyprus Summit 2024, a premier event held at the Hilton Nicosia and attended by over 150 professionals, including general counsels, in-house lawyers and industry experts.
This year, Harris Kyriakides hosted a panel on “Navigating Mergers and Acquisitions: Insights into the Dynamic Landscape of the Evolving Energy Sector.” As the energy sector undergoes a transformative shift towards a lower-carbon, ESG-focused, and technologically driven future, the panel aimed to provide practical, hands-on advice to in-house lawyers aspiring to elevate their professional growth.
Moderated by Michael Kyriakides, the panel featured distinguished speakers, including Pavlos Masouros, Managing Partner at Masouros & Partners, Andrea Newton, Partner at Harris Kyriakides and Georgios Ioannou, CFA Charter Holder Manager at KPMG.
Mr. Kyriakides gave an overview of the current Energy M&A climate locally, regionally and internationally highlighting that despite a recent drop in the volume of M&A, the Energy market has persevered and provides exceptional opportunities. Mr. Masouros reflected on the presented energy M&A statistics and whether they align with the reality of his experience working with some of the largest M&A agreements in Greece. Mr. Masouros also discussed the role of government regulation in the industry, particularly with the increase of subsidies for renewable energy solutions. Ms. Newton outlined the trends witnessed in M&A agreements in Cyprus, including the most common choice of deal structures, tendencies seen in negotiation periods, and steps taken prior to closing. Mr. Ioannou discussed the forecasted trends for 2024 in Energy M&A, particularly in light of economic uncertainty and its impact on the energy transition. Reflecting on his expertise in corporate finance, Mr. Ioannou drew on lessons learned from the historic drop in M&A volume witnessed in the industry in 2023 to foresee the 2024 climate.
The discussion also delved into the economic challenges impacting the sector, offering insights into industry-specific risks and challenges that legal counsel should be vigilant about in these transactions. The summit proved to be a resounding success, fostering meaningful discussions and connections among participants.
