Živković Samardžić has advised Serbia’s national commercial broadcaster B92, subsidiary of Kopernikus Corporation, on the transformation of a joint stock company into a limited liability company. This transformation was a challenge, considering the complex legal framework governing joint stock companies and lack of local practice.
B92 was established in 1989 as radio broadcasting to Belgrade audiences and has since grown into a company which includes a national radio and television network and websites. B92 and its journalists have won numerous prestigious international awards for journalistic courage and advocacy of human rights.
The transformation marks the completion of the takeover process, with the company Astonko as the only remaining shareholder and introduces a simpler governance system without the Management Board. The simplified governance will allow more efficient management and decision-making within B92, thus enabling it to respond promptly to the challenges and changes in the harsh business environment.
The Živković Samardžić team that has advised B92 on this transformation was led by Igor Živkovski, Corporate and M&A Partner.