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Dentons Advises Triodos Investment Management, Umweltbank Aktiengessellschaft, and GLS Gemeinschaftsbank on Acquisition of Majority Stake in Opportunity Banka Novi Sad

Dentons Advises Triodos Investment Management, Umweltbank Aktiengessellschaft, and GLS Gemeinschaftsbank on Acquisition of Majority Stake in Opportunity Banka Novi Sad

Serbia
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Dentons has advised Umweltbank Aktiengessellschaft, GLS Gemeinschaftsbank EG, and two investment funds managed by Triodos Investment Management on the acquisition of a majority stake in Opportunity Banka a.d. Novi Sad, a Serbian bank, from Opportunity Transformation Investments inc. Andric Law Office provided Serbian advice to the buyers, and Schoenherr reportedly advised Opportunity Transformation Investments.

Opportunity Banka Novi Sad specializes in microfinance, providing micro, rural, agro, and SME loans, and other financial services to Serbian customers who cannot ordinarily access financial services from traditional banks. Dentons reports that the bank is a part of Opportunity International, "a global non-profit committed to ending extreme poverty and promoting quality education for families in need." According to the firm, "since 1971, Opportunity has helped millions of families work their way out of poverty by providing financial resources, training, and delivering ongoing support to start small businesses, earn living wages, and feed their families.”

Triodos Investment Management is global investor with over 750 investments in over 50 countries with EUR 4.9 billion in assets under management. It is a wholly-owned subsidiary of Triodos Bank NV, which was founded in 1980 and operates in sustainable banking. 

Dentons’ team in Budapest was led by Partner Rob Irving and included Associates Kamran Pirani and Sebastian Ishiguro.

Andric Law Office’s team was led by Managing Partner Luka Andric.

Editor's note: After this article was published, Schoenherr announced that its team included Partners Matija Vojnovic and Vojimir Kurtic and Lawyer Dusan Obradovic.

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