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Karanovic & Partners and CMS Advise on BIG Shopping Centers’ Acquisition of Delta City Mall Podgorica from Hystead Limited

Karanovic & Partners and CMS Advise on BIG Shopping Centers’ Acquisition of Delta City Mall Podgorica from Hystead Limited

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Karanovic & Partners has advised BIG Shopping Centers on the EUR 95 million acquisition of Delta City Mall from Hystead Limited. CMS advised the seller.

Delta City Mall is located in Podgorica, Montenegro, and has 24,500 square meters of gross leasable area of commercial space. The property includes 1,000 parking spaces and has close to 100% occupancy rate.

Hystead Limited is a London-based company and investor in the Western Balkans.

BIG is an Israeli Stock Exchange-listed company, that operates and manages 26 shopping centers and malls in Israel and also has a presence in the United States, Serbia, and France.

"BIG continues to locate strategic assets in order to expand its commercial power which, in addition to the success achieved in Serbia, ranks BIG in the position of one of the leading commercial real estate companies in the Balkan Region," Big Shopping Centers CEO Hy Galis commented. "Delta City Podgorica is the most powerful asset in the country and one of the most powerful commercial facilities in the Balkans."

CMS previously advised Hystead Limited on its sale of the Delta City shopping mall in Serbia (as reported by CEE Legal Matters on December 17, 2021).

The Karanovic & Partners team included Partner Ivan Nonkovic and Senior Associate Marko Culafic.

The CMS team was led by Partners Maja Stepanovic and Milica Popovic and included Partner Ivan Gazdic and Attorney Tamara Samardzija.

Montenegro Knowledge Partner

Law office Vujacic was founded in 1971, and in that time it was one of the first law firms in Montenegro. Today it is a modern business law firm with a long and proud tradition of supporting clients by high quality legal services in all areas of corporative, civil and commercial law. 

Our team of lawyers has shown a great success in areas such as: Mergers & Acquisitions, Telecommunications/Media, Intellectual Property, Administrative Law, Corporate Law, Finance Law, Competition Law, Real Estate, Dispute Resolution, Employment, Tax issues etc. 

As local counsel we have wide experience in all aspects of private and public corporate acquisitions and privatization. Our activities range from conducting due diligence reports, negotiations, preparing security documents and legal opinions.

The guiding principles of our Office are quality, confidentiality, efficient, timely, and cost effective services. We provide efficient legal representation to our clients both on regional and international levels.

All News about, and Legal Analysis by, Law office Vujacic can be found here.

Firm's website: http://www.lawoffice-vujacic.com/


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