Karanovic & Partners, Pekin & Bayar, and Sweden's Delphi law firm have advised NIBE Industrier AB on its acquisition of 51% of the EMIN Group. Goktas Attorneys advised Emin Group on the sale. The purchase price was not disclosed.
Karanovic & Partners has advised Zijin Mining on its successful participation in a privatization procedure that resulted in the company becoming a strategic partner in Serbia's sole copper complex, RTB Bor. As a result, Zijin Mining pledged to invest USD 1.46 billion in return for a 63% stake.
Miljan Malovic is the Head of the Business Legal Advisory Office of Banca Intesa Belgrade. He graduated from the Faculty of Law at the University of Belgrade in 2001, and joined Banca Intesa in 2006.
The Serbian Ministry of Construction, Transportation and Infrastructure has initiated the process of amending the country’s Planning and Construction Act, with the aim of boosting the construction industry and making the legal environment in the sector more predictable, reliable, and investor-friendly. The Serbian construction law has been revolutionized the last few years, with the introduction of e-permits and the unclogging of many sclerotic procedural labyrinths, so the readiness of the Serbian government to continue with the reforms and modernization is generating new excitement in the construction sector.
Commercial Court of Appeals has finally aligned its court practice related to change of the litigant in the procedure in case of assignment of the claim, with the regional court practice, thus making the NPL market in Serbia more attractive.
Kinstellar has advised the CTP Group on its acquisition of a 10,000 square meter logistics centre near Belgrade from Montenegro-based Industriaimport-Industriaimpex AD Podgorica.
Jankovic Popovic Mitic has advised VTB Bank on the sale of 100% of its stake in VTB Banka a.d. Beograd to AZRS Invest doo Beograd.
National Alliance for Local Economic Development (“NALED”) has submitted its proposal for the changes of the flat-rate taxation system to the National Coordination Body for Battling Underground Economy (“NCB”). This Government body will review the proposed changes, which would substantially alter the system of flat-rate taxation of independent contractors (i.e. individual entrepreneurs) as it exists now, and have a particular impact on certain industries which rely on it to a great extent, such as the IT sector.
Until a few years ago, the narrative within legal practices, as in most service industries, focused mainly on austerity, small growth numbers, and the crises. Most legal practitioners feared an uncertain future and all the risks it held, including evolving client expectations, financial pressure, and the long-term impact of the global economic crisis.
As Serbia is gearing up for EU accession, harmonizing with EU legislation and business practices becomes not only mandatory, but also a market necessity. Although there are discrepancies between business practices in Serbia and in the EU, one thing seems to be unanimous: local businesses, just like their international counterparts, think ahead when it comes to securing their assets. This applies to every type of business, but it is prevailingly visible in local medium-sized to large businesses which predominantly handle and/or deal with IP portfolios. Nowadays, in the ever-evolving digital world, where almost information is at the reach of one’s hand – even to those located in remote corners of the world – attention and focus are being switched to ensuring the adequate protection of trade secrets. This process is happening in Serbia as well.
Zivkovic Samardzic has advised Belgrade Nikola Tesla Airport, a joint-stock public company that owns and operates the Belgrade airport, on its new, third issuance of shares. The issuance of shares was a result of NTA’s share capital increase.
Staying compliant with applicable legislation requires constant tracking of new legislation while staying on top of amendments to existing regulations. When employers are not compliant, they risk being fined. No exceptions are made for labor legislation.
Markovic Vukotic Jovkovic has advised De Heus on its acquisition of Serbian compound feed plant Komponenta from HZZ Komponenta DOO. Tasic & Partners advised the sellers in the deal.
Gecic Law has successfully advised the Republic of Serbia and EPS, one of the largest energy companies in the region, in a probe led by Energy Community Secretariat regarding alleged State support for the multi-million-euro Kolubara B project.
Serbia is paving its way towards the European Union, and the process of accession, according to Ksenija Golubovic Filipovic, Partner at Zivkovic Samardzic in Belgrade, is not always straightforward. “On the one hand," she says, “we are trying to create secure investment environment for potential investors and achieve high standards of living. On the other hand the process requires that our legislation be harmonized with the EU laws.”
Wolf Theiss has advised the Chinese home appliance producer Hisense on its takeover offer for 95% of the shares in Slovenian white-goods manufacturer Gorenje. Jadek & Pensa advised Gorenje on the sale. The transaction value exceeds EUR 250 million.
Wolf Theiss has advised BMI Securities Ltd, Hong Kong as lead manager on the debut issue of an international bond by the Republic of Srpska of up to EUR 200,000,000, 4.75% Notes due 2023.
Karanovic & Nikolic has advised ZF Friedrichshafen AG on the opening of an electric vehicle parts factory in Pancevo, Serbia, with an investment planned to amount over EUR 100 million.