Karanovic & Nikolic has advised Societe Generale Srbija on its acquisition of a part of Jubanka AD Beograd's credit portfolio, including housing and cash credits, credit cards, and credits for small and medium-sized enterprises. Zivkovic Samardzic advised Jubanka on the deal, which makes Societe Generale Srbija the third largest bank in Serbia in terms of credit volume.
Societe Generale Srbija, a wholly owned subsidiary of the French-based Societe Generale bank — one of the largest banking groups in Europe — is the oldest foreign bank in Serbia, having established its Belgrade office in 1977. This transaction is Societe Generale Srbija's second acquisition, following its 2013 acquisition of KBC Bank's client portfolio.
Zivkovic Samardzic describes the transaction as "one of the biggest in the market in last few years," and notes that it "follows the acquisition of Alpha Bank Srbija A.D. by one of the leading commercial banks in Serbia, AIK Banka AD, earlier this year." As reported by CEE Legal Matters on March 7, 2017, Zivkovic Samardzic advised AIK Banka on that acquisition, as well.
According to Karanovic & Nikolic, Societe Generale Srbija has stated that it will contact Jubanka's clients and offer them "all the necessary help and support in order to provide them with the highest quality of service."
The Karanovic & Nikolic team consisted of Senior Partner Darko Jovanovic, Senior Associate Ivan Nonkovic, and Trainee Marko Culafic.
The Zivkovic Samardzic team was led by Partner Branislav Zivkovic and included Partner Uros Dordevic and Senior Associate Sava Pavlovic.