Živković Samardžić Advises Prva TV on Merger with Its Affiliated Company

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.

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Živković Samardžić Advises Hidroelectrica on Winding Up of Its Serbian Subsidiary

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.

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Živković Samardžić Advises South Central Ventures on Increase of the Share Capital of Its Portfolio Company LeanPay

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 5th 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.

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Živković Samardžić Advises South Central Ventures on Investment in Startup LeanPay

Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised South Central Ventures (SCV) on its investment in LeanPay, a consumer financing Fintech startup that helps people pay for consumer goods on credit / in installments. LeanPay is focused on reinventing Point-of-Sale financing by providing instant and easy installment plans in all sales channels.

With offices in Belgrade, Zagreb and Skopje, SCV, through Enterprise Innovation Fund (ENIF), is focused on tech companies in the Balkans. The € 40 million fund is dedicated primarily to early stage and growth investments. Within the fund’s ‘seed pocket’, € 1.5 million is allocated for investments of up to € 100 000 per company. The majority of the fund is allocated for early stage and growth investments of up to € 3 million per company. These investments are intended to fuel the international business expansion and growth of the most promising tech startups that can show traction and prove their potential to “make it big”.

LeanPay’s solution provides advantages for both consumers and merchants. For consumers, it is easy to see the appeal of LeanPay POS financing. It is instantaneous and digital and can offer greater transparency on the total cost of the purchase, and it provides more flexibility when it comes to paying for goods and services. For merchants, the key selling proposition is getting more customers and higher sales. LeanPay’s solution increases conversion rates by offering consumers intuitive, seamless and error-free loan processes and delivers high approval rates for loan applicants.

Živković Samardžić has supported SCV with their earlier investments in Serbia, including investments in dryTools, City Expert, Alchemy Cloud Inc. and CUBE Risk Management Solutions.

Živković Samardžić team that has advised SCV on the transaction was led by Igor Živkovski, Partner, and included Ana Popović, Partner and Sava Pavlović, Senior Associate.

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Živković Samardžić Wins the 2018 Deal of the Year Award for Serbia

We are pleased to announce that Živković Samardžić has won the 2018 Deal of the Year Award for Serbia for its work on Belgrade Airport privatization.

Organized by the renowned CEE Legal Matters magazine, this is the second year that these awards were held and they are a way of recognizing the biggest and most important deals by leading law firms in Central and Eastern European jurisdictions. A two-tiered panel of leading lawyers from across the region selected winners for 17 different CEE jurisdictions.

The prestigious accolade was awarded on March 28, 2019 at the CEE Legal Matters Deal of the Year Banquet in Budapest. Before an audience of over 90 senior legal professionals from across Europe, Igor Živkovski, Živković Samardžić Corporate and M&A Partner, accepted the award on behalf of the firm.

“It is a huge privilege to receive this prestigious award, which reflects the dedication and commitment our team showed while working on this highly complex deal”, said Mr. Živkovski. “I would also like to congratulate our client, Belgrade Nikola Tesla Airport, and to express our sincere gratitude for the opportunity to work on this landmark project. Last but not least, congratulations to all the winners, as well as the organizers of this amazing event.”

“The significance of that deal was, ultimately, impossible for the two tiers of voters to ignore, and Zivkovic | Samardzic played an important role in making it happen”, said CEE Legal Matters Executive Editor David Stuckey. “We were pleased that the voters recognized the deal’s significance, and personally delighted that Igor Zivkovski from the firm was able to join us at the event and accept it in person. That’s an experience we expect to see repeated many times in the years to come!”

Živković Samardžić team that advised Belgrade Nikola Tesla Airport on this deal was led by Branislav Živković and Igor Živkovski, Partners and Sava Pavlović, Senior Associate.

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Živković Samardžić Advises Astonko, Subsidiary of Kopernikus Corporation, on Voluntary Buyout of Shares Owned by B92 Minority Shareholders

Živković Samardžić, one of Serbia’s leading full-service independent law firms, has advised Astonko, Serbian subsidiary of Kopernikus Corporation, on voluntary buyout of shares owned by 42 out of 43 minority shareholders of B92, a joint-stock company which owns O2 TV, Play Radio and o2tv.rs and b92.net web portals. On the completion of the transaction, Astonko has acquired 99.99% of shares of B92.

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.

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.

Živković Samardžić team that has advised Kopernikus Corporation on buyout of minority shareholders of B92 consisted of Nebojša Samardžić, Branislav Živković and Igor Živkovski, Partners and Sava Pavlović, Senior Associate.

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Živković Samardžić in the Finals for the CEE Legal Matters Deal of the Year Award

We are proud to announce that Živković Samardžić’s nominated deal, Belgrade Airport privatization, is one of three finalists for the 2018 CEE Deal of the Year Award for Serbia. These prestigious accolades are organised by CEE Legal Matters, a renowned print and online publication for and about lawyers in Europe’s emerging legal markets.

The Živković Samardžić team that advised Belgrade Airport on this deal was led by Branislav Živković and Igor Živkovski, Partners and Sava Pavlović, Senior Associate.

These shortlists were chosen by panels of experts on the ground in each of 17 CEE jurisdictions from over 200 submissions made by law firms all over Europe. The shortlisted deals are forwarded to the Final Selection Committee, which consists of CEE Legal Matters Knowledge Partners and attendees to the annual End of Year Expert Summit, who independently rank the final nominees, identifying the ultimate winner in each market.

The winners will be announced at the CEE Deal of the Year Awards Banquet on March 28, 2019 in Budapest. On that day senior legal practitioners from across Europe will gather in hopes of winning the prestigious CEE Deal of the Year Award and to participate in the biggest and the most important annual celebration of top level lawyering in Central and Eastern Europe.

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Igor Živkovski, President of FIC Legal Committee and Živković Samardžić Partner received “Committee of the Year Award”

On December 21st, 2018, President of FIC Legal Committee and Živković Samardžić Partner, Igor Živkovski received “Committee of the Year Award” on Foreign Investors Council regular annual session of the Assembly. In order to fully recognize the key role of its working committees, FIC established “Committee of the Year Award”, which was awarded to the FIC Legal Committee, as the most active committee in 2018. The winner was announced by FIC President, Yana Mikhailova. 

The Foreign Investors Council held today the regular annual session of the Assembly, summarizing the key achievements and making solid basis for the future growth. Members also adopted Annual and Financial Report for 2018. For the first time this year, the “Committee of the Year Award” was introduced.

Igor Živkovski, Živković Samardžić Corporate and M&A Partner said: “The Committee of the Year Award have been presented for the first time this year and I feel a deep sense of pride at the achievements of our FIC Legal Committee team. This is an achievement which demonstrates our strength and confirms our expertise. Seems we succeeded!”.

Warm congratulations to Igor Živkovski and his colleagues, also congratulations to other 10 committees, aiming to advocate for improvement of the overall legal framework by closely monitoring the work of Serbian authorities and generating proposals for its improvement. Legal Committee has developed a practice of organizing roundtables in order to present to the authorities FIC positions on specific draft laws or on the issues regarding implementation of the existing regulation. For more information on FIC Legal Committee activities and the full list of its members, please follow this link.

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Živković Samardžić Advises on Delisting of TCH Group Member from the Belgrade Stock Exchange

Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised Livnica a.d. Kikinda (Livnica Kikinda), the Serbian subsidiary of Cimos and member of TCH Group, on its delisting from the Belgrade Stock Exchange.

As a result of the complex and long-lasting process that was successfully conducted, the Securities Commission has issued a resolution approving the conversion of Livnica Kikinda into a private joint stock company. Consequently, shares of Livnica Kikinda were delisted from the Belgrade Stock Exchange, so Livnica Kikinda is continuing to operate as a non-public joint stock company. Currently, Cimos holds 93% of shares in Livnica Kikinda, while the remaining shares belong to the almost 3,000 minority shareholders.

Cimos is a highly acclaimed automotive supplier founded in 1972. It operates as a Tier 1 and/or Tier 2 supplier to main automotive manufacturers. Cimos consists of two divisions – Turbo and Powertrain and currently produces in 10 plants located in Slovenia, Croatia, Bosnia and Herzegovina and Serbia. Its main technologies employed are forging, casting, machining and assembly. Cimos was acquired by Palladio Holding in 2017 and become part of TCH Group.

Živković Samardžić team that has advised Livnica Kikinda on delisting from the Belgrade Stock Exchange consisted of Igor Živkovski, Corporate and M&A Partner and Sava Pavlović, Corporate and M&A Senior Associate.

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Živković Samardžić Advises Antenna Group on Sale of Its Media Operations in Serbia and Montenegro to Kopernikus Corporation

Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised Antenna Group, which owns Prva TV, O2 TV, Prva TV Montenegro, Play Radio, six cable channels and Prva.rs, o2tv.rs and b92.net web portals, on  sale of media operations in Serbia and Montenegro to Kopernikus Corporation for EUR 180 million. The change of the ownership rights is now before the regulatory authorities of Serbia and Montenegro.

At the end of 2009, the Antenna Group took over Fox television in Serbia and in September 2010 changed its name to Prva Srpska Televizija. At the time of the purchase of Fox television in Serbia in 2009, the station had only four percent of the market share, and today, eight years after investments and continuous expansion of the business, the company has 45 percent of the market share.

The Antenna Group, which was founded in 1988, is an international media group with a portfolio of various media operations in over 20 countries in Europe, North America and Australia.

Kopernikus, which was established in 1998, provides cable television and broadband services through cable and optical internet facilities.

Živković Samardžić team that has advised Antenna Group on sale of its media operations in Serbia and Montenegro to Kopernikus Corporation consisted of Nebojša Samardžić, Branislav Živković and Igor Živkovski, Partners and Sava Pavlović, Senior Associate.

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