Zivkovic Samardzic has advised Slovenia's Pivka Perutninarstvo d.d., on a direct conversion of debt owed to Pivka by its Serbian subsidiary, Pivka-S, into equity of Pivka-S, as well as on the buyout of shares owned by Milutin Nikic, the minority shareholder and director of Pivka-S.
Pivka has thus become the sole shareholder of Pivka-S, with Nikic remaining sole director of Pivka-S.
According to Zivkovic Samardzic, “with a sixty-year tradition, Pivka is one of the regional pioneers in the area of organization of chicken meat production on modern technological bases. It gathers some of the most well-known brands in the meat and fish industry, such as Njami, Delamaris, and Pivka.”
The share capital of Pivka-S was increased through the debt-to-equity conversion of shareholder loan lent to Pivka-S by Pivka. As the shareholders’ equity ratio was not changed through the conversion, a share-purchase agreement has been concluded, based on which Nikic transferred his entire share in Pivka-S to Pivka, while he will continue to run Pivka-S.
Zivkovic Samardzic’s team included Partner Igor Zivkovski and Senior Associate Sava Pavlovic.