BDK Advokati has advised Ellis Enterprises d.o.o., a subsidiary of Valvoline, on signing an agreement with a Serbian lubricant producer FAM to acquire its production plant and IP rights for a purchase price of EUR 9.5 million.
The deal is expected to close in the second quarter of 2019 upon the issuance of the relevant merger clearances.
The transaction was approved by FAM creditors in the context of a Pre-Pack Reorganization Plan for FAM.
BDK’s team was led by Senior Partner Vladimir Dasic and included Partner Milan Dakic and Associates Sara Necic, Marko Popovic and Djordje Zejak.
Editor's Note: On July 1, 2019, BDK Advokati announced that the deal had closed has anticipated, following the approval of the Serbian Competition Commission and, BDK reports, "by six banks which are major creditors of FAM."