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Bright Prospects and Busy Lawyers in Croatia: A Buzz Interview with Mojmir Ostermann of Ostermann & Partners

Bright Prospects and Busy Lawyers in Croatia: A Buzz Interview with Mojmir Ostermann of Ostermann & Partners

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Despite the challenges, Croatia’s M&A market appears to hold promise in 2023 – particularly in the retail, IT, and renewables sectors – according to Ostermann & Partners Managing Partner Mojmir Ostermann.

"As we approached the end of 2022, there was widespread concern about what 2023 would bring in terms of recession, inflation, and other negative economic indicators," Ostermann points out. "However, thankfully, things have been looking up so far, and we can anticipate a promising M&A market in 2023, with very interesting opportunities for mandates."

"It appears that this year holds great potential for professionals involved in M&A transactions, particularly in the retail, food, and energy sectors," Ostermann notes. "These industries are essential for sustenance, and people will continue to purchase food or energy regardless of fluctuating prices or weather conditions. Consequently, financial investors are keen to invest in these sectors. The main driver behind it is that these sectors are relatively resilient to challenges like a possible recession."

Ostermann highlights two significant M&A transactions that will probably happen in 2023 in Croatia. "Currently, the sale of Pevex, the largest DIY store in the Croatian market, has been announced by the main shareholder," he says. "Additionally, two weeks ago, Fortenova published that it started the process for examining interest by potential investors for the purchase of the Fortenova group, while Lazard has been engaged as an advisor."

Finally, Ostermann draws attention to significant developments in Croatia’s renewables market. "We anticipate a significant influx of investments for photovoltaic power plants as Croatia's solar energy currently only accounts for less than 1% of the total energy produced, despite the favorable climate conditions," he points out. "The Ministry of Economy has recently begun issuing energy approvals for projects that have been in the works for over a year, though certain regulations are still lacking."

According to him, "due to a large number of applications, both the ministry and the transmission system operator require more time to determine not only how energy production will be implemented, but also how it will be integrated into the grid. This may be why the government is taking extra time to ensure that energy approvals are properly issued. It is likely that construction will begin on several projects by the end of the year, resulting in a significant increase in financing mandates." Overall, Ostermann believes that "the prospects for this year are bright, and lawyers can expect to remain busy."

Croatian Knowledge Partner

Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

All News about, and Legal Analysis by, Čipčić-Bragadin Mesić & Associates can be found here.

Firm's website: cipcic-bragadin.com


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