Zivkovic Samardzic reports that it has obtained competition clearance in Serbia, Montenegro, and Macedonia for Petrol d.d. Ljubljana’s acquisition of control over the Slovenian natural gas trader Geoplin.
Petrol d.d. Ljubljana recently announced the signing of a share swap agreement with the Republic of Slovenia, represented by Slovene Sovereign Holding, based on which Petrol will become the majority owner of Geoplin, while the Republic of Slovenia will retain a 25 percent interest in the company. At the same time, Geoplin’s gas pipelines infrastructure spin off, Plinovodi, will remain under the majority ownership of the Republic of Slovenia.
In the meantime, Zivkovic Samardzic reports, the transaction was cleared by the Serbian, Montenegrin and Macedonian competition authorities, which had been notified on the basis of a good faith intention.
The Zivkovic Samardzic team successfully representing Petrol in front of the Serbian and Montenegrin competition authorities was led by Partner Slobodan Kremenjak and Senior Associate Igor Zivkovski. In Macedonia, clearance was obtained in cooperation with Macedonian law firm Bona Fide’s attorneys Jasmina Brezovska and Aleksandar Kcev.