Potential Sale of Share in Cinkarna Celje

August 2022 It is expected that the Slovenian Bank Assets Management Company will soon attempt to sell their almost 13 % share in CINKARNA, Metalursko-kemicna Industrija Celje, d.d., a titanium dioxide pigment manufacturer and one of the largest chemical-processing companies in Slovenia. Cinkarna was included in the list of companies for privatisation as early as 2013, and several attempts to sell the share have been made since – the last one about a year ago. In September 2021, the estimated net profit for 2021 was EUR 27.1 million. For 2022, Cinkarna plans EUR 204 million in sales revenue.…

NNDKP Assists Marcos Provit in Connection with the Issuance of Corporate Bonds

May 2022 NNDKP assisted Marcos Provit, a local pharmaceutical services network, in issuing cross-border corporate bonds worth 8.5 million euros through private placement, under the coordination of the Polish private debt fund CVI. The transaction aims at the strategic development of the company by ensuring the financing for potential acquisitions. NNDKP was involved in the structuring, negotiation, and conclusion of the related documentation and provided assistance to the client throughout the transaction. “Special thanks to our legal advisors at Nestor Nestor Diculescu Kingston Petersen…
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BOYANOV & Co. and KALO & ASSOCIATES Advised on the Sale of One Telecommunications

March 2022 After having advised on the acquisition (including the acquisition financing) of One Telecommunications - the second-largest mobile operator in Albania, in 2019 from OTE / Deutsche Telekom and the refinancing of the original acquisition financing in 2021, at the end of 2021 and the beginning of 2022 BOYANOV & Co. and KALO & ASSOCIATES advised the sellers on the sale of One Telecommunications to the Hungarian IT service management company 4iG. The transaction was successfully closed on 21 March 2022. BOYANOV & Co.’s team was led by partner Damian Simeonov and included…

NLB Group Selling NLB Skladi

The largest Slovenian banking group has decided to sell one of its most profitable businesses NLB Skladi, which manages assets in funds and individual management.

Investment Protection Between Serbia and Major Economies: France

February 2022 Author: Relja Radovic, BDK Advokati  Investment Flows We conclude our series on investment protection between Serbia and major economies with a post on France. According to the Development Agency of Serbia, France is the third country of origin of foreign investments in Serbia, with a 9.7% market share, in terms of the value of projects, and the fifth country of origin, with a 5.4% market share, in terms of the number of projects. The most famous recent French investments in Serbia are Vinci’s concession for Nikola Tesla airport in Belgrade and Suez’s participation with…

KG acted for EVO Payments, Inc. in Acquiring a Majority Interest in National Bank of Greece Merchant Acquiring Business

January 2022 Kyriakides Georgopoulos Law Firm advised EVO Payments, Inc. (NASDAQ: EVOP) (“EVO”), a leading global provider of payment technology integrations and acquiring solutions, in a transaction involving a long-term strategic marketing alliance with the National Bank of Greece (“NBG”) to provide merchant acquiring and payment processing services. Kyriakides Georgopoulos team led by Partners Konstantinos Vouterakos and Konstantinos Issaias and Competition Partner Anastasia Dritsa assisted EVO throughout the negotiations of transaction documents, the conduct of legal due diligence,…

NNDKP Аssists Safety Broker in the Sale of an 80% Сtake to Unilink

December 2021 NNDKP has assisted Safety Broker, the largest independent insurance broker operating in Romania and in the Republic of Moldova, in the sale of 80% of the company’s shares to the Unilink group, leader on the relevant Polish market. Following the closing of the transaction, the minority stake will be held by Viorel Vasile (15% of shares), who will continue to act as CEO of the company and as a member of the board, and by Robert Niță (5% of shares), who will also continue to be on the board of the company. This transaction is part of the long-term development strategy of Safety…

NNDKP Advises Purolite in Relation to its Acquisition by Ecolab

December 2021 NNDKP has assisted Purolite Corporation and Purolite SRL in relation to the acquisition of the companies by Ecolab, as part of a broader, global acquisition process. The transaction is valued at approximately US$ 3.7 billion, placing it amongst the largest transactions of its kind closed this year, both at the global and national levels. NNDKP has provided assistance in all stages of the transaction and with other relevant aspects regarding the acquisition process, through the involvement of a multidisciplinary team of professionals, comprised of experts from the firm’s Corporate/M&A,…

Investment Protection Between Serbia and Major Economies: China

December 2021  Author: Relja Radovic  Investment Flows Following our initial post on the United States, we continue our series on investment protection between Serbia and major economies with the focus on China – one of the most important and publicized sources of foreign investments in Serbia. The Development Agency of Serbia reports that China ranks the seventh country of origin of foreign investments in Serbia, with a 3.5% market share, in terms of the number of projects, and sixth, with an 8.9% market share, in terms of the value of projects. As with the US, China is not among the…

The Rise of the BNPL Model and the Opportunities in the Serbian Market

November 2021 Author: Dragoljub Cibulic The current global environment is giving BNPL (“buy now pay later”) incredible momentum. People are working and shopping more and more from their homes. Many of them need more financial support than usual to complete their purchases. That is where BNPL comes in handy. The basic model is simple: BNPL allows the customer to pay for purchases later, often interest-free, without having to use traditional credit sources. There are clear advantages for the seller too because the BNPL option attracts new customers and increases the average order sizes of…

BOYANOV & Co. advised the European Investment Bank

November 2021 BOYANOV & Co. advised the European Investment Bank on increasing the financing of OLIVA AD made available pursuant to a Luxembourg law governed finance contract executed in 2017, to EUR 37,2 million, for the purposes of adding new components to the company’s project for the construction of a new edible oil processing plant and grain silos. BOYANOV & Co. acted as Bulgarian legal counsel for the lender on all Bulgarian law aspects of the financing, including the creation and perfection of Bulgarian law-governed security. The additional financing was successfully closed in…

Understanding Cryptocurrency And Distributed Ledger Technology in the Albanian Legal Context

October 2021 Blockchain represents one of the 21st century’s most impactful inventions. In addition to creating cryptocurrencies such as Bitcoin, this technology enables smart contract functionality and supports decentralised, secure, and private transactions. By design, blockchains enable decentralised functionality for many of today’s business applications and transform traditional centralised information systems. In a few chapters, KALO & ASSOCIATES will summarise the legal and regulatory developments of crypto and blockchain in Albania by explaining what they are, what they are not,…