CMS has advised Britain’s Poseidon Group and Belgium’s Mitiska REIM on the divestment of Capitol Park Rakovica, the largest retail park in Belgrade, to Israel’s BIG CEE Group. Cvetkovic, Skoko & Jovicic advised BIG CEE on the transaction, which closed in December 2019.
Since 2013 and adoption of the Rulebook on conditions of breeding of Cannabis Sativa L, a.k.a industrial hemp, the Republic of Serbia acknowledged its production and cast a new light on domestic agriculture. Even though industrial hemp has been a prodigy to older generations for its miraculous multi-purpose benefits, younger generations often misplace it for marijuana, derived from a similar sort – Indian hemp. Regrettably, a similar misunderstanding in regards to its effects is often made by competent state authorities.
Former Counsel Sasa Stojanovic has been promoted to Partner at BDK Advokati.
BDK Advokati has advised Biomin GmbH on the acquisition of Vinfeed doo, a Serbian distributor of animal nutrition products. The unidentified sellers were advised by Samardzic, Oreski, & Grbovic.
The Commission for the Protection of Competition has published its first leniency decision in a cartel case, following a report by one of the cartel participants.
BDK Advokati and JPM have helped Decathlon, a sporting goods retailer, open its first outlet store in Serbia.
“There are no major movements between firms, or any new firms popping up," says Petar Mitrovic, Partner at Karanovic & Partners in Belgrade, about the Serbian legal market. “There have been some movements, some partners leaving their law offices and moving to the private sector, but nothing worth writing home about."
Serbian National Parliament adopted Act on the Protection of Whistleblowers (“Official Gazette of RS”, no. 128/2014, hereinafter “APW”) on December 4th, 2014, rightfully recognizing that whistleblowers are essential elements of an ethical social and economic environment and hence deserve additional institutional protection (especially because of their exposure to employers’ retaliation).
BDK Advokati has advised Eldorado Gold on the sale of its two Serbian mining companies, Tara Gold and South Danube Metals, to Ibaera Capital, an Australian PE focused on exploration and project development. Ibaera Capital was advised by PWC Legal.
Serbia's Doklestic Repic & Gajin has announced that it has established a correspondent law office in Bosnia and Herzegovina, in the form of that city's Karabdic Law Office.
On October 10, 2019 the National Assembly of the Republic of Serbia adopted the Law on Alternative Investment Funds and Law on Open-Ended Investment Funds with a Public Offering, where both of the laws came into force on October 19, 2019 and will become applicable on April 20, 2020.
Milica Savic, a former Senior Associate at Karanovic & Partners, has been promoted to Partner in the firm's Belgrade office.
Karanovic & Partners has advised NIBE Industries AB on its acquisition of the TIKI Group, Gorenje’s Serbian subsidiary. The TIKI Group was advised by the Zdolsek law firm.
On 12 November 2019 in Belgrade, Ministry of Justice signed a cooperation agreement with EUROJUST, an EU agency dealing with judicial co-operation in criminal matters among agencies of the member states. The signing of the agreement took place in Belgrade after Serbia fulfilled the prerequisite by adopting the new Act on personal data protection, which was the final step in complete harmonization with EU regulations and directives. Eurojust has cooperation agreements with 12 countries, 3 of which are Western Balkan countries: Montenegro, North Macedonia, and Albania.
Some might say that Serbia’s banking sector is blooming and steadily consolidating. Others may argue that actual consolidation is still far away. Either way, players on the local market are changing. This is clear now following the exit of Societe Genarale, BNP’s Findomestic, and two Greek banks, followed by the bold revamp of Hungary’s OTP and the strengthening of domestic investors such as AIK and Direktna Bank.
The new Serbian Act on State Aid Control ("SAA")1 has entered into force. Its implementation, apart from the provisions on organisation of the Commission on State Aid Control ("Commission"), will begin on 1 January 2020.
Karanovic & Partners has advised family-owned automotive industry supplier Brose on the acquisition of 23 hectares of land from the Republic of Serbia for the construction of a plant and a research center that will produce automotive equipment.
BDK Advokati has advised Labiana Group on the acquisition of all issued shares in the Veterinary Institute of Subotica (Vetzavod), a Serbian animal vaccine producer. Labiana acquired 67.05% of Vetzavod shares from Victoria Group AD and 32.95% from Sojaprotein AD. Jankovic Popovic Mitic advised the sellers on the deal.