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JPM, KSB, Karanovic & Partners, and Clifford Chance Advise on Pepsico and Karlovarske Mineralni Vody Acquisition of Knjaz Milos

JPM, KSB, Karanovic & Partners, and Clifford Chance Advise on Pepsico and Karlovarske Mineralni Vody Acquisition of Knjaz Milos

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JPM, Clifford Chance, and Kocian Solc Balastik have advised Pepsico and Karlovarske Mineralne Vody on the acquisition of Knjaz Milos, a producer of mineral water and soft drinks in the countries of former Yugoslavia, from Mid Europa Partners. Karanovic & Partners advised the sellers.

The deal is expected to close in the third quarter of 2019 upon issuance of relevant merger approvals.

Last year Kocian Solc Balastic advised Karlovarske Mineralne Vody on its acquisition of the PepsiCo beverages portfolio in the Czech Republic, Hungary, Slovakia, and Bulgaria (as reported by CEE Legal Matters on February 26, 2018). That deal was subsequently shortlisted for CEE Deal of the Year in Slovakia (as reported on February 6, 2019). 

The JPM team was led by Senior Partner Nenad Popovic and included Partners Jelena Stankovic Lukic, Nikola Poznanovic, Ivan Petrovic, Bojan Sunderic, and Jelena Nikolic, and Senior Associates Stefan Jovicic, Bojana Javoric, Anja Sakan, and Jelena Otasevic.

The KSB team included Managing Partner Dagmar Dubecka and Associate Jan Beres.

Clifford Chance's team in the Czech Republic was led by Partners David Kolacek and Milos Felgr and included Senior Associates Aneta Disman and Marian Husar and Associates Ludvik Ruzicka, Zuzana Moravkova, Matej Kucera, Dominik Vojta, and Lucie Ruzickova.

The Karanovic & Partners team included Partners Rastko Petakovic and Milos Jakovljevic and Associate Sava Draca.

Editor's Note: After this article was published CEE Legal Matters learned that White & Case had worked alongside Karanovic & Partners in advising Mid Europa Partners on the sale. According to the firm, "Mid Europa acquired Knjaz Milos in 2015 together with Imlek and Bambi, the leading regional dairy and confectionary companies, respectively, forming the consumer group Moji Brendovi." As reported by CEE Legal Matters on February 21, 2019, Bambi was then sold off by Mid Europa earlier this year, with both White & Case and Karanovic & Partners advising on that sale as well.

The White & Case team in London that advised on the Knjaz Milos transaction was led by Partners Ian Bagshaw and Ken Barry, with support from Associates Will Summers and Jean Renaldy.

Subsequently, CEE Legal Matters also learned that AP Legal acted as the Serbian legal advisor to the consortium of domestic and foreign banks (consisting of Raiffesien Bank Beograd, Erste Bank Novi Sad, Erste Group Bank AG Vienna, and the EBRD) which financed the acquisition. The firm's team consisted of Counsels Aleksandar Preradovic and Aleksandra Jovic.

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