The Buzz in Croatia with Mario Krka of DTB - An Interview By CEE Legal Matters

SEE Legal is delighted to share an interview by CEE Legal Matters with Mario Krka, partner at Divjak Topic Bahtijarevic Law Firm. In the interview, Mario commented on the three major changes in the Croatian legislation: the changes to the Corporate Law Act, the amendments of certain tax bylaws, and the upcoming changes to the Civil Procedure Act.

DTB is Advising United Group in the Acquisition of the Telecom Operator Tele2 Croatia

On Friday, 31 May 2019, Tele2 AB Sweden agreed to sell its Croatian business to United Group for an enterprise value of EUR 220 million. The Croatian business is one out of the three telecom providers in Croatia with 897,000 subscribers. The transaction requires approval from the relevant regulatory bodies, including the Croatian Competition Agency and closing is expected before the end of 2019. United Group is a leading connectivity and media provider in South East Europe. It has the broadest network coverage in the region with 3.82 million subscribers and offers both local and international content. United Group has operations in six countries and employs around 4,400 employees. The transaction is considered to be one of the largest, if not the largest, M&A deal in Croatia this year.

The Badel Block Project in Zagreb

The City of Zagreb launches a Call for expression of interest to investors in relation to the participation in the development and realisation of the Badel Block Project in Zagreb. The Badel Block project is in the area bordered by the Vlacka, Šubiceva, Marticeva and Derencinova streets in Zagreb, whose surface is around 30,000 m². The purpose of the project is to render the Badel Block area a new identity highlight of the city district in question and the centre of significant business, tourist, hospitality and cultural, and artistic events, and a location providing a high quality of life to its current and future residents. The expected value of this investment is about HRK 750 million (approx. EUR 100 million).

AR Packaging Group AB Acquired All Outstanding Shares in Istragrafika

AR Packaging Group AB has acquired all outstanding shares in Istragrafika, d.d., a producer of high-quality folding carton products for the tobacco, food and consumer goods segments. The transaction involved several legal workstreams with the requirement of simultaneous acquisitions of all shares and production facility and machinery previously leased by Istragrafika. AR Packaging Group has been represented by DTB team of lawyers led by senior partner Damir Topic, partner Marin Vukovic (in charge for property acquisition), partner Mario Krka and lead lawyer Juraj Fabijanic (in charge for statutory company matters).

Divjak, Topic & Bahtijarevic Law Firm Represented Prvo Plinarsko Drustvo

On 31 October 2018 INA and Prvo plinarsko drustvo (PPD) as investors, together with the Republic of Croatia, entered into a Capital Increase Agreement regarding Petrokemija, the largest regional fertiliser manufacturer listed on Zagreb Stock Exchange. The companies paid the aggregate amount of HRK 300 million (approx.  EUR 40 million) for 30 million stocks of Petrokemija, thereby becoming majority owners of Petrokemija (and replacing the State in this capacity), holding more than 50% of the share capital and the respective control over Petrokemija. The transaction was carried out via INA and PPD’s…

Valamar Riviera

The Croatian hotel operator [ZSE:RIVP] announced that its supervisory board granted a preliminary approval for the investment of EUR 83.5 million in 2019. Investments in 2019 represent a continuation of the strategy to reposition the portfolio towards products and services with high added value, Valamar noted. Funds will be directed towards the segment of premium camping in Istria and on Krk island, as well as the opening of the five-star Valamar Collection Marea Suites project. Plans also include numerous other projects. Valamar previously announced an investment cycle of up to EUR 270 million…

Divjak, Topic & Bahtijarevic Won the First Ever CEE Legal Matters CEE Deal of the Year Award for Croatia

SEE Legal's Croatian member, Divjak, Topic & Bahtijarevic Law Firm, has won the first ever CEE Legal Matters CEE Deal of the Year Award for Croatia at the Deal of the Year Awards Banquet in Prague on 7 June 2018 for its work on Arriva’s acquisition of Autotrans. Winners were selected from all deals signed in the 2017 calendar year, and were based on deal complexity, market (and regional) significance, and innovation. Final nominees were selected by a first panel of highly-regarded private practitioners in Croatia and a second, Final Selection Committee, of prominent legal experts from across…