articles | 05 November 2021 | Stelios Americanos & Co LLC

Global Knafaim advised by Stelios Americanos & Co LLC on acquisition of 49.9% of TUS Airways

Stelios Americanos & Co LLC advised the Israeli group Global Knafaim in a $5 million transaction pursuant to which the later acquired a 49,9% in the share capital of TUS AIRWAYS LTD, a Cypriot airline headquartered in Larnaca. Existing shareholder, Kenneth Woolley also invested an additional $4 million increasing the amount of the total transaction to $9 million.

Stelios Americanos & Co LLC was involved in the legal due diligence phase of the transaction, the preparation and negotiation of the relevant transaction documents leading to the new shareholding structure of TUS AIRWAYS LTD as well as during the transaction’s closing. The assistance provided required a multidisciplinary view involving not only corporate & commercial law but also aviation law as well as employment law.

TUS today owns leases two Airbus A320 and has further plan of fleet extension and growth.

The project was led by Stelios Americanos, managing partner of the firm, who was assisted by Michalis Zambyrinis, Thanos Fiakas, Chrysanthi Epifaniou and George Andreou being associates of the firm.

About Global Knafaim:

Global Knafaim Leasing Ltd (“GKL”) is a publicly traded aviation company engaged in acquiring, leasing and trading used commercial aircraft. GKL is controlled by Knafaim Holdings Ltd. GKL has extensive, rich experience in the industry, and is a reputable company with excellent relationships with airlines, leasing companies and financiers in North and South America, Europe, Asia, Australia and South Africa. GKL is a public company listed on the Tel Aviv Stock Exchange, following a completion of its IPO in July 2017. To this day, GKL has paid over $50,000,000 in dividends to its shareholders.

About Stelios Americanos & Co LLC:

Stelios Americanos & Co LLC is a full service, highly innovative law firm with headquarters based in Nicosia, Cyprus and a branchin Athens, Greece. It specializes in corporate, commercial and banking law, (focusing mainly on transboundary banking financing,joint ventures, mergers and acquisitions), corporate and commercial litigation, real estate, financial and investment regulatorycompliance and blockchain legal advisory.

The firm assembles a dynamic and reliable legal team, working effectively and efficiently with cutting edge technology,establishing, thus, an enviable reputation for its effectiveness, competency and innovative practises.

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