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.

Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised Serbia’s national commercial broadcaster Prva TV, subsidiary of Kopernikus Corporation, on merger with Antenna Group Studios, its affiliated company for production and distribution of cinematographic works and television programs. As a result of the merger, Antenna Group Studios ceased to exist and became part of Prva TV.

Kopernikus, which was established in 1998, provides cable television and broadband services through cable and optical Internet facilities. As already reported, Kopernikus Corporation, owned by Mr Srđan Milovanović, acquired Prva TV and O2 TV in Serbia and Montenegro from Antenna Group at the end of 2018.

Prva TV is a Serbian commercial television network with national coverage. Launched on December 31, 2006 as Fox television, the network has since December 2009 to December 2018 been owned by the Greek media company Antenna Group. In March 2012, Prva TV expanded into the Montenegrin television market with the establishment of its sister channel – Prva TV Montenegro.

The Živković Samardžić team that has advised Prva TV on merger with Antenna Group Studios was led by Igor Živkovski, Corporate and M&A Partner.

Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised Romania’s biggest power producer, majority state-owned hydro power producer Hidroelectrica, on the winding up of its subsidiary in Belgrade, which was established in 2014.

Hidroelectrica, the most profitable state-owned enterprise in Romania, is a leader in hydro power generation and the major supplier of ancillary services required in the Romanian National Energy System, being a vital company in a strategic sector with implications for the national security. Employing more than 3,000 people, Hidroelectrica owns 208 power plants and pumping stations with a total installed capacity of 6,444 MW and an annual average power production of 14,039 GWh.

In 2018, Serbian state-owned electric utility power company Elektroprivreda Srbije (EPS) has signed an agreement with Hidroelectrica to improve the joint operation of the Đerdap hydropower plant on the Danube river.

The Živković Samardžić team that has advised Hidroelectrica on all legal aspects of the winding up of its Serbian subsidiary was led by Igor Živkovski, Corporate and M&A Partner.

Živković Samardžić, one of Serbia’s leading full-service independent law firms and market leaders in venture and growth capital, continues to support South Central Ventures (SCV) with their investments in the most promising tech startups in the Western Balkans region. Two months after advising SCV on its investment in LeanPay, a consumer financing Fintech startup that helps people pay for consumer goods on credit / in installments, the funding round has been completed by another share capital increase.

Fintech is still a fragmented industry and since the traditional financial institutions are fairly conservative in their digital transformation processes, the opportunity for such emerging companies with new business models as LeanPay still exists. SCV recognized the blend of technological talent combined with senior banking experience in LeanPay as an excellent opportunity to disrupt this market niche.

SCV manages the Enterprise Innovation Fund (ENIF), a venture capital fund focusing on highly specialised, innovative small and medium-sized enterprises in the Western Balkans. Investors into ENIF are the European Commission (EC), the European Investment Fund (EIF), the European Bank for Reconstruction and Development (EBRD), Kreditanstalt für Wiederaufbau (KfW) together with institutional and private investors from the Western Balkans. The € 40 million fund is dedicated primarily to early stage and growth investments, intended to fuel the international business expansion and growth.

For Živković Samardžić, this transaction marks another step in strengthening its expertise in startups & startup financing and represents its 5^th transaction with SCV in the last 3 years.

Živković Samardžić team that has advised SCV on this investment round was led by Igor Živkovski, Corporate and M&A Partner.