Sun, Dec
68 New Articles

Zivkovic Samardzic and Schoenherr Advise on Sale of Eurobank Direktna to AIK Banka

Zivkovic Samardzic and Schoenherr Advise on Sale of Eurobank Direktna to AIK Banka

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Zivkovic Samardzic, working with Milbank, has advised the shareholders of Eurobank Direktna Beograd on its sale to AIK Banka Beograd. Schoenherr and Holman Fenwick Willan advised AIK Banka.

The transaction remains contingent on regulatory approval. Closing is expected in 2023. 

According to Zivkovic Samardzic, “Eurobank Direktna is headquartered in Belgrade and operates through four primary segments: retail banking, corporate banking, small business banking, and digital banking, and holds a market share of 6% in terms of total assets. It currently employs approximately 1,600 employees, operates 98 branches, and has a balance sheet size of EUR 2.4 billion. Eurobank Direktna [was] majority owned by Eurobank Holdings (70%) and former Direktna Banka shareholders (30%).”

According to Schoenherr, “the combination of AIK Banka and Eurobank Direktna will create the second-largest banking operation in the country,” with Zivkovic Samardzic reporting that “the combined bank would have attained an over 13% market share in total assets, with over EUR 4 billion in deposits and a strong capital base of more than EUR 800 million (as of September 2022).”

Zivkovic Samardzic, Milbank, and, reportedly, Schoenherr had also advised on the merger of Eurobank with Direktna Banka two years prior (as reported by CEE Legal Matters on July 13, 2021).

The Zivkovic Samardzic team included Partners Branislav Zivkovic, Igor Zivkovski, Sava Pavlovic, and Uros Djordjevic.

The Schoenherr Serbian office of Moravcevic Vojnovic and Partners team included Partners Matija Vojnovic, Vojimir Kurtic, and Dusan Obradovic.

Serbia Knowledge Partner

Committed to redefining a law firm's role in an emerging regional market, Gecić Law is a full-service law firm that advises international and local clients from the public and private sectors in navigating the complex legal landscape of the region across multiple practice areas. Members of the Gecić Law team have graduated from leading universities in the US and Europe. They have extensive local and international experience, with a particular focus on EU regulatory frameworks and international trade and a proven track record in providing innovative and practical solutions in the most complex of matters.

Gecić Law is an exclusive member of two leading global alliances, TerraLex and TAGLaw, extending its international footprint. The firm and its lawyers have continuously been recognized in several practice areas by elite global directories, including The Legal 500, Chambers and Partners and Benchmark Litigation. Gecić Law was named Law Firm of the Year: South Eastern Europe 2021 and Law Firm of the Year: Eastern Europe and the Balkans 2020 at The Lawyer European Awards and was repeatedly nominated in other practice areas.

For more details, please visit geciclaw.com.


Our Latest Issue