Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has obtained its client, Petrol d.d. Ljubljana, the leading Slovenian energy company and an important player on the energy field of South Eastern Europe, competition clearances in Serbia, Montenegro and Macedonia, with respect to Petrol’s acquisition of control over the Slovenian natural gas trader Geoplin.
Petrol d.d. Ljubljana recently announced the signing of a share swap agreement with the Republic of Slovenia, represented by Slovene Sovereign Holding, based on which Petrol shall become the majority owner of Geoplin, while the Republic of Slovenia shall retain 25-percent interest in the company. At the same time, Geoplin’s gas pipelines infrastructure spin off – Plinovodi, should remain under the majority ownership of the Republic of Slovenia. The transaction, that will be completed once suspensive conditions are fulfilled, is based on a plan, which was, according to the Slovene media, endorsed by the Slovenian government in October last year.
In the meantime, after being notified on the basis of a good faith intention, the transaction was cleared by the Serbian, Montenegrin and Macedonian competition authorities. The Živković Samardžić team successfully representing Petrol in front of the Serbian and Montenegrin competition authorities was led by Slobodan Kremenjak, partner and Igor Živkovski, senior associate. In Macedonia, clearance was obtained in cooperation with Macedonian law firm Bona Fide, and their attorneys Jasmina Brezovska and Aleksandar Kčev.
“For Živković Samardžić, it was important to prove, once again, that we have a regional footprint and that we can act as a regional hub and a one stop shop in a broader setting, and not just in Serbia,” said Partner Slobodan Kremenjak.