Marjanovic Law has advised the Investment Corporation of Dubai (ICD) on its purchase of the Porto Montenegro marina. Marjanovic Law acted as a local counsel to Hogan Lovells Dubai for all corporate and anti-trust matters.
The transaction was structured as a share deal whereby the ICD took over the company Adriatic Marinas (with its affiliates) through the purchase of shares from the Maltese company Montport Capital SE. Adriatic Marinas and its affiliates form Porto Montenegro, which Marjanovic Law describe as one of the biggest and most developed marinas, not only in Montenegro, but in the Adriatic area as well.
As the principal investment arm of the Government of Dubai, the ICD has a rich portfolio of assets, both Dubai-based and international, across a broad spectrum of the sectors, that form the blueprint of Dubai’s dynamic economy. Through the acquisition of Porto Montenegro ICD intends to expand and implement its investment strategy, which Marjanovic Law describes as “disciplined, sustainable, and provid[ing] synergy with its existing portfolio, thus enabling the utilization of the full potential of the Porto Montenegro project.”
The Marjanovic Law team led by Partner Mladjan Marjanovic and including Senior Attorneys Marina Lazovic, Andrea Klimovic, Dusan Matijasevic, and Aleksandar Jokic worked on the transaction in cooperation with a Hogan Lovells Dubai team led by Partner Charles Fuller.
Commenting on the deal, Mladjan Marjanovic said: “This project was certainly one of the biggest transactions in Montenegro in recent years and of significant importance for the economic development of Montenegro, especially in the tourism and maritime sectors. Working on this project was a valuable experience for our team and we especially thank Hogan Lovells Dubai and its Partner Charles Fuller for the excellent cooperation and successful finalization of the transaction. It was a great pleasure working with him and the entire Hogan Lovells team.”