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Karanovic & Nikolic and Schoenherr Advise On River Styxx Capital Acquisition of Majority Stake in Telenor Banka

Karanovic & Nikolic and Schoenherr Advise On River Styxx Capital Acquisition of Majority Stake in Telenor Banka


Karanovic & Nikolic has advised Bulgaria's River Styxx Capital investment fund on the acquisition of 85% of the shares in Telenor Banka. Moravcevic Vojnovic and Partners in cooperation with Schoenherr) advised Telenor on the transaction, which sees the Norwegian telecommunications group keeping 15% of its shares in the online bank.

Telenor established the online bank in Serbia in 2014. More than 300,000 customers have registered to use its services – which include current and savings accounts, cash loans, and credit cards. According to data from Serbia's National Bank, it is the 25th largest bank in Serbia in terms of assets.

According to Karanovic & Nikolic, "by investing into this partnership, River Styxx Capital entered the Serbian market – which it sees as offering attractive growth prospects. The company's vision is to provide accessible and convenient financial services for the whole of Southeast Europe." The firm reports that 

the strategic partnership with River Styxx Capital will support funding and further grow the business – which will be focused in the future on building new innovative services and growing their customer base. The company will continue to invest significant efforts and resources in order to maintain its leadership position – being the only Internet-based, mobile-first bank in Southeast Europe."

The Karanovic & Nikolic team was led by Senior Partner Darko Jovanovic, Senior Associate Ivan Nonkovic, and Associate Mina Sreckovic.

The Moravcevic Vojnovic and Partners in cooperation with Schoenherr team consisted of Partner Luka Lopicic and Associate Petar Miskovic.

Image Source: telenorbanka.rs

Serbia Knowledge Partner

Karanović & Nikolić is a leading international legal practice in South East Europe that offers unrivalled regional and sector specific coverage to investors. As a market leading practice, our dedication, quality legal service, and in-depth understanding of the needs of our clients stands out as a differentiating factor. With over 100 advisors across the region, our original values remain an integral part of our philosophy and approach to client work. Karanović & Nikolić has been involved in many of the largest and most complex transactions in the region and we take pride in our reputation as a regional transactional and corporate/commercial legal powerhouse.

Because we have an active business presence in Bosnia & Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Slovenia, we operate seamlessly across all of these jurisdictions, providing regional services to our clients, while taking into consideration local particularities in order to provide the best legal advice under competitive terms. Renowned for the quality of our lawyers and our commercial approach to solving problems, Karanović & Nikolić advises many of the leading companies, banks, investors and government institutions doing business in the SEE region.

All News about, and Legal Analysis by, Karanovic & Nikolic can be found here.

Firm's website: https://www.karanovic-nikolic.com/


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