Zivkovic Samardzic has advised Belgrade Nikola Tesla Airport on its third issuance of shares and share capital increase in less than five months.
According to Zivkovic Samardzic, the company increased its share capital through contribution of approximately EUR 2 million worth of 20 real estate properties required for further development of Nikola Tesla Airport and owned by the airport's majority shareholder, the Republic of Serbia. This issuance followed the April/May 2018 issuance (as reported by CEE Legal Matters on May 3, 2018) and another issuance in July (as reported by CEE Legal Matters on July 20, 2018). Zivkovic Samardzic advised on both of the previous issuances as well.
The share capital increase was performed as an in-kind contribution by the Republic of Serbia — one of more than four million NTA shareholders — with only the Republic being remunerated by the issuance of new shares, while the preferential subscription rights of the remaining shareholders were excluded.
The issuance of shares and share capital increase was performed as part of preparatory actions for the concession granted to the French airport operator Vinci Airports (as reported by CEE Legal Matters on January 25, 2018), for the financing, development through construction and reconstruction, maintenance, and management of infrastructure of the NTA.
The Zivkovic Samardzic team was led by Partner Igor Zivkovski and Senior Associate Sava Pavlovic.