A new entry to Živković Samardžić’s track record in the Serbian banking sector: AIK Banka is the new owner of Eurobank Direktna

Following the announcement from March 2023, and upon receipt of the approvals by all competent regulatory authorities, on November 2, 2023, the shareholders of Eurobank Direktna completed the sale of their shares in Eurobank Direktna to AIK Banka a.d.

Eurobank S.A. (“Eurobank”) entered the banking business in Serbia in 2003 as Eurobank EFG Serbia. After the merger with Direktna Banka, in which Živković Samaržić has advised both merging banks as well, the merged bank – Eurobank Direktna, has become number eight in the Serbian market with a market share of 5.5% in assets, a loan portfolio of 1,7 billion euro and 1,5 billion euro deposits (as of September 2022).

Following this transaction, Eurobank Direktna’s and AIK Banka’s joint participation in the Serbian banking market will be higher than 13%, with over 4 billion euro deposits and a very strong capital base.

The acquisition of Eurobank Direktna is another milestone in the Serbian banking sector as it also reflects the increasing competition and consolidation within Serbia’s banking sector.

Živković Samardžić acted as local legal counsel to Eurobank SA on all aspects of this process. The transaction was led by Živković Samardžić corporate/M&A partners Branislav Živkovićand Sava Pavlović, and was supported by the team consisting of partner Uroš Đorđević, and associates Ilija Milosavljević and Ana Grebo.

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Živković Samardžić Advises TinySeed on Investment in Startup Plainly

Živković Samardžić has advised TinySeed, a US venture capital fund which runs a remote accelerator designed for early-stage SaaS founders, on its investment in Plainly, a startup developing video generation API that allows businesses to create automated video creation workflows and increase their marketing output, scale up personalized sales or improve internal communications.

Plainly was one of the 26 startups that were accepted to participate in the Fall 2022 Americas and EMEA accelerator programs designed to help founders with a revenue-generating SaaS optimize product-market fit and grow faster, organized by TinySeed, which allowed Plainly to receive support, answers, and accountability needed to scale its business faster.

TinySeed is a year-long, remote accelerator that funds 15-20 SaaS companies at once. Those companies go through their accelerator program as a batch. TinySeed’s mission is to increase the world’s population of independent SaaS companies, giving capital-efficient startups an option between bootstrapping and raising traditional venture capital. It specializes in the fields of financial services, software, and venture capital.

Živković Samardžić team led by Partner Igor Živkovski and Associate Ana Grebo assisted TinySeed with performing due diligence of Plainly, structuring the transaction, drafting and negotiating of transactional documentation, as well as closing activities related to the investment.

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Živković Samardžić advising Fifth Quarter Ventures in the procedure of becoming the fourth Alternative Investment Fund in the Republic of Serbia ever

Živković Samardžić, one of Serbia’s leading full-service independent law firms with proven track record and vast experience in the Serbian capital market, advising both investors and startups, has legally advised and provided regulatory and compliance support to Fifth Quarter Ventures (FQV) in the procedure of becoming the Alternative Investment Fund in the Republic of Serbia.

On April 21, 2023, the Securities Commission brought a decision to grant a permit to FQV, which enables FQV to transform into an Alternative Investment Fund Management Company, allowing it to step into the final procedural phase before the Securities Commission for obtaining the vital permit to establish an Alternative Investment Fund in the Republic of Serbia. This is the newest “big thing” in the Serbian capital market, having in mind that FQV will establish the fourth alternative investment fund ever in the Republic of Serbia.

FQV is founded with the idea to be an early-stage VC fund focused on investing in top startups from the Western Balkan. Also, with its experienced founders and proven business model, FQV will help startups that currently outgrow local investors and introduce them to the top foreign VCs. Finally, FQV’s strategy is also directed to the startups run by Serbian and Croatian founders in the diaspora who can benefit from FQV connections, and to the elite US/Canadian startups which have the Balkan presence that seeks help with product building & faster execution, in which case FQV has an active role in team and product building, in order to secure an allocation in a round led by Tier 1 VC from the Silicon Valley.

Živković Samardžić is a legal adviser and continuously supports FQV in all aspects of establishing and developing alternative investment fund in the Republic of Serbia. Živković Samardžić team consists of the Partners Igor Živkovski and Sava Pavlović, and Associate Ana Grebo.

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