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Harneys Cyprus advised Morgan Stanley on acquisition of Korres stake

Cyprus office of the leading offshore firm Harneys has advised Morgan Stanley Private Equity Asia on the matters of Cypriot law, in its investment acquisition of the majority ownership of the leading Greek natural cosmetics producer Korres.

Morgan Stanley Private Equity Asia and Chinese-based Profex purchased majority share in Korres for €48.3mln (US$58mln), and the transaction was passed through Nissos Holdings - the company based in Cyprus and founded by Korres.

The partner of Harneys Cyprus and the leader of the team Demetris Loizides commented: “We are delighted to have acted on this successful acquisition, showcasing the expertise of our Corporate and Commercial practice group in Harneys Cyprus”.
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