Deals in Greece 2025

A resilient market that outperformed Europe, fueling optimism and sustained investor confidence.

Despite international challenges, the Greek economy continued to demonstrate resilience, recording growth rate above the Eurozone average. The Athens Stock Exchange reported profits for the fifth consecutive year, with the General Index increasing by 44.3% on an annual basis, reflecting improved investor sentiment and stronger market fundamentals.

Another year of exceptional growth, with rising deal volumes and valuations shaping a dynamic investment environment.

In 2025, both the number and the total value of M&A transactions reached historically high levels, for the fifth consecutive year, confirming the strong momentum of the Greek Μ&Α market.

Dominant high‑value transactions mirror global M&A trends, where strategic megadeals increasingly shape market momentum.

Large-scale transactions have played a defining role in the development of the Greek M&A market over the past five years. In 2025, Megadeals continued to account for a significant share of the total transaction value. The €9 bn Allwyn-OPAP transaction was the most prominent deal of the year, significantly influencing overall market value. This reflects a broader global pattern, where large strategic transactions increasingly dominate M&A activity.

The M&A landscape for 2025 is marked by strong cross-sectoral activity, with the Entertainment sector standing out in terms of transaction value.

Telecom, Media & Technology (TMT)

The TMT sector recorded the highest number of transactions over the past five years, with 43 deals. Most transactions were relatively small in size, while more than half did not disclose their deal value. 

Around 30 TMT transactions involve companies that either operate directly in the field or utilise AI technologies in their product or operations, reflecting the ongoing digital transformation of Greek businesses.

Financial Services

The Financial Services sector recorded 25 transactions with a total value of €3 bn, demonstrating increased activity compared with previous years. The insurance sector showed particularly strong momentum, with one out of two transactions of the year involving insurance companies.

Energy & Renewables

The Energy and Renewables sector remained one of the most dynamic segments of the Greek M&A market, with 20 transactions totaling €2.9 bn. International investors continued to show strong interest in renewable energy portfolios while increasing activity in energy storage solutions (BESS), particularly in wind and solar projects, added further momentum. 

Strong participation of foreign investors in the domestic renewable energy market, with growing interest from Greek companies expanding abroad, primarily in the Southeastern Europe.

Food & Beverage

The Food & Beverage sector recorded one of the most active years of the past five years, with 19 transactions in 2025. Private equity investors played an important role within the sector, accounting for 42% of total deal value. 

AI and automation solutions have been widely integrated into the Food & Beverage sector, enhancing critical functions from production to quality control.

Private Equity

Private equity activity continues to expand its presence in the Greek M&A market, representing 16% of total deal value in 2025. However, there remains significant room for growth, as private equity accounts for approximately 57% of deal value globally.

Α total of 35 private equity transactions were recorded, with strong activity in Healthcare, Leisure, and TMT sectors.

Sustained economic strength is set to fuel another year of high deal activity, keeping M&A momentum firmly on track for 2026.

The positive trajectory of the Greek economy and the improving investment environment is expected to support the continued momentum of the Greek M&A market.

Total M&A transactions are expected to attract sustained interest in 2026, likely reaching levels close to the record highs of the past two years.