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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."

Ostermann & Partners at a Glance

Ostermann & Partners is a full-service Croatian corporate law firm advising local and international companies, financial and governmental institutions.

For more than a decade, we have been providing comprehensive legal services and transactional advice to our clients in the following areas: Banking & Finance, Capital Markets, Corporate, Commercial and M&A, Employment, Energy, Project Finance, Real Estate and Restructuring & Insolvency. Furthermore, we have developed a particular expertise in representing clients in all types of disputes (litigation and arbitration) where our in-depth and thorough approach has been particularly recognised by both peers and clients.


We are recognised for the clarity, promptness, and straightforwardness of our advice.

Our team is made out of energetic, solution-oriented, business savvy experts who always focus on client’s business goals. Professional excellence and profound commitment to our clients are our core values.

Our approach is based on critical analysis and legal research of local, European and international legal practice.

We place strong emphasis on developing a comprehensive understanding of our clients’ businesses. Our lawyers respond timely and effectively by giving you advice instead of just options. We look at the big picture and the fine details.


Ostermann & Partners has been recognised internationally by some of the leading independent quality researchers such as Legal 500, Chambers and Partners, and IFLR 1000 for excellence, while our lawyers have been recognised as market leaders.

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