Živković Samardžić advises Pivka on debt-to-equity swap and minority shareholder buyout
Wednesday, 17 October 2018
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised Pivka perutninarstvo d.d. (Pivka), Slovenian-based joint stock company, on direct conversion of debt owed to Pivka by its Serbian subsidiary, limited liability company Pivka-S, into equity of Pivka-S, as well as on buyout of shares owned by minority shareholder and director of Pivka-S, Mr. Milutin Nikić. On the completion of the transaction, Pivka has become sole shareholder of Pivka-S, while Mr. Nikić remained sole director of Pivka-S.
Share capital of Pivka-S was increased through the debt-to-equity conversion of shareholder loan lent to Pivka-S by Pivka. As the shareholders’ equity ratio was not changed through this conversion, Share Purchase Agreement has been concluded, based on which Mr. Nikić transferred his entire share in Pivka-S to Pivka, while he will continue to run Pivka-S.
With sixty-year tradition, Pivka is one of the regional pioneers in the area of organisation of chicken meat production on the modern technological bases. It gathers some of the most well-known brands in the meat and fish industry, such as Njami, Delamaris and Pivka.
Živković Samardžić team that has advised Pivka on debt-to-equity swap and buyout of minority shareholder in its Serbian subsidiary was led by Igor Živkovski, Corporate and M&A Partner and Sava Pavlović, Corporate and M&A Senior Associate.
- Published in Deals and Cases
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Živković Samardžić Advises Jubanka AD on Loan Portfolio Transaction
Tuesday, 19 December 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised JUBANKA AD BEOGRAD (formerly known as Alpha Bank Srbija AD), on a performing loan receivables portfolio sale to SOCIETE GENERALE BANKA SRBIJA AD. The transaction is one of the biggest in the market in last few years and follows the acquisition of Alpha Bank Srbija A.D. by one of the leading commercial banks in Serbia, AIK Banka AD, earlier this year. Živković Samardžić advised AIK Banka on that acquisition, as well.
The Živković Samardžić team which advised on the transaction was led by Partner Branislav Živković and included Partner Uroš Đorđević and Senior Associate Sava Pavlović.
“We had a busy year in 2017 and besides advising on this performing loan receivables portfolio sale and the earlier acquisition of Alpha Bank Srbija A.D. by AIK Banka AD, we have also advisedVojvođanska banka, in their capacity of both one of the key lenders and the agent for the group of other lenders on the Hilton Hotel Belgrade project financing. I would like to thank everyone at our Corporate and M&A and Financial Services departments for their dedication and contribution to our success and growth,“ said Živković Samardžić Managing Partner Branislav Živković.
- Published in Deals and Cases
Živković Samardžić advised shareholders of Tim Kolos on the sale of 55% of shares in the company to Samsic
Monday, 28 August 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, advised shareholders of Tim Kolos d.o.o, Belgrade based facility management, construction and installation services provider, on the sale of 55% of shares in the company to Samsic Holding dejavnost holdingov d.o.o, Slovenian member of French Samsic Group. (more…)
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Živković Samardžić advises AIK Banka on the acquisition of Alpha Bank Srbija
Wednesday, 12 April 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms, has advised MK Group, a leader in the agricultural and sugar industry in Serbia, and its subsidiary AIK Banka, on the acquisition of Alpha Bank Srbija A.D.
As reported on 11.4.2017, following the provision of the relevant regulatory approvals, AIK Banka A.D. Beograd completed the acquisition of 100.0% stake in the share capital of Alpha Bank Srbija A.D. Alpha Bank Srbija A.D. shall continue to operate as Jubanka A.D. Beograd, the name it held since the mid-twentieth century and up to its privatization in 2005.
MK Group, founded in 1980, with its 40 subsidiaries and 7,000 employees, in addition to the agriculture and the sugar industry, also operates in the field of meat processing and renewable energy sources, financial and IT services, real estate and tourism.
AIK Banka is the winner of the 2016 International Banker Awards in the Best Commercial Bank of the Year in Serbia and the Best Customer Service Provider of the Year in the Eastern Europe categories.
The seller, Athens-based Alpha Bank, who entered the Serbian market in 2002 and expanded its presence in 2005 through the privatization of Jubanka A.D. Beograd, announced that the transaction contributes towards, and is fully consistent with, the execution of its EU-backed restructuring plan.
“The deal is crucial as it represents the first significant transaction that is part of the upcoming consolidation of the domestic banking market,” said Jelena Galić, AIK Banka CEO.
MK Group and AIK Banka were advised by the international law firm Holman Fenwick Willan and Živković Samardžić. The Živković Samardžić team which advised on the transaction was led by partners Branislav Živković and Miloš V. Milošević, with support from associate Sava Pavlović.
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Živković Samardžić advises South Central Ventures on a transaction involving its portfolio company Dry Tools
Tuesday, 14 March 2017
Živković Samardžić, one of the Serbia’s leading full-service independent law firms has advised South Central Ventures (SCV) on a transaction involving Dry Tools, one of its portfolio companies operating in the software developing tooling sector. Following the transaction, Silicon Valley-based Alchemy Cloud Inc., a company targeting the specialty chemicals industry with an industry-leading, cloud-based product development platform, will acquire Dry Tools’ technology platform and hire its core team, while Dry Tools will, in exchange, become a shareholder of Alchemy Cloud Inc. At the same time, SCV shall become a sole shareholder of Dry Tools.
Dry Tools is a software development company that has built robust developer tools to streamline the software delivery process. Dry Tools help development teams address rapidly evolving product needs and deliver more value to customers by allowing developers to model applications through specifications and by working in fast delivery loops.
Alchemy Cloud Inc., company behind Alchemy, a cloud-based SaaS platform for the specialty chemical industry that facilitates the commercialization of new formulations, is based in San Francisco and has offices in both San Francisco and Novi Sad, Serbia.
SCV, who manages the Enterprise Innovation Fund (ENIF), a venture capital fund focusing on highly specialized, innovative small and medium-sized enterprises in the Western Balkans, was the lead investor in dry Tools and will do its follow-ons in Alchemy. 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 EUR 40 million fund is dedicated primarily to early stage and growth investments, intended to fuel the international business expansion and growth.
Živković Samardžić has supported SCV with their earlier investments in Serbia, including the investment in Dry Tools, and City Expert, an innovative, tech driven real estate sale and rental sector startup.
“We will continue to support SCV with their investments in tech startups and are proud to be positioned firmly as the go-to lawyers for venture and growth capital clients” said Managing Partner Branislav Živković.
Živković Samardžić team that has advised SCV on the transaction was led by Igor Živkovski, Senior Associate, and included Sava Pavlović, Associate.
- Published in Deals and Cases
