Zivkovic Samardzic has advised Livnica a.d. Kikinda, the Serbian subsidiary of Cimos and a member of the TCH Group, on its delisting from the Belgrade Stock Exchange.
As a result of the process, Serbia's Securities Commission issued a resolution approving the conversion of Livnica Kikinda into a private joint stock company. Consequently, shares of Livnica Kikinda were delisted from the Belgrade Stock Exchange. Currently, Cimos holds 93% of shares in Livnica Kikinda, with the remaining shares belonging to almost 3,000 minority shareholders.
Cimos, which was founded in 1972, operates as a Tier 1 and/or Tier 2 supplier to major automotive manufacturers. The company consists of two divisions – Turbo and Powertrain – and operates ten plants in Slovenia, Croatia, Bosnia and Herzegovina, and Serbia. Cimos was acquired by Palladio Holding in 2017, making it part of the TCH Group.
Zivkovic Samardzic's team consisted of Partner Igor Zivkovski and Senior Associate Sava Pavlovic.