ADM to acquire Sojaprotein

The Archer-Daniels-Midland Company (NYSE: ADM), an American multinational food processing and commodities trading corporation, has signed a sale and purchase agreement to acquire Sojaprotein, one of the leading soybean processing companies in Europe and leading European provider of non-GMO soy ingredients. Sojaprotein is part of Victoria Group which has been recently acquired by MK Group through debt to equity swap. It has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionery,…

Serbia Plans to Install Floating Facility for Hydrogen Production

Serbia’s draft hydrogen strategy should be prepared by the summer, followed by a public debate. The plan is to give hydrogen a significant role in the development of the new energy development strategy, which will start soon. Zoran Ilic, Assistant Minister of Mining and Energy announced that the first plant for the production of hydrogen is planned to be built in the vicinity of the Sava or Danube rivers. It would be a floating mobile platform with 110 hydrogen tanks of 50 cubic meters each and facilities for the production of electricity – wind or solar power plants, with up to 3 MW in total…

Sale of a Wind Farm Project in Kladovo

A global development and engineering EU-based company is the developer of a wind farm project in Kladovo (Serbia) that is currently in a pre-development phase. The owner is looking for a strategic partner or a financial investor that would continue with the construction of the wind farm. The transaction entails the sale of more than 50% equity of the SPV, which holds the rights to the project.

Sale of Bela Anta Wind Farm Project

Bela Anta Wind Farm Project is being developed near the city of Pancevo. Bela Anta will consist of 36 wind turbines each of capacity 3.3 MW totalling 118 MW. Developer is in the process of updating the construction permit and EIA. Commissioning of Bela Anta is expected in 2022.

Solar Power Plant in Nis

The City of Nis has put the Draft Amendments to the Spatial Plan of the Administrative Area of the City of Nis up for public review. This pertains to the partial changes designed by the Institute for Urban Planning of Nis, which entail, among other things, an area in the northeastern part of the Nis municipality of Pantelej of 61.5 hectares, where the construction of a solar power plant is being planned. The preliminary plan, according to the documentation, is for the solar power plant to cover a large number of parcels in the cadaster municipality of Vrelo.

Indotek Group to Acquire GTC’s Serbian Office Portfolio

Hungarian real estate investor Indotek Group has signed a sale and purchase agreement for the purchase of 11 office buildings from Globe Trade Centre (GTC) for the proposed acquisition price of EUR 267,6 million. The GTC office portfolio is located in New Belgrade, a prime business district in Belgrade, and consists of 11 premium quality office buildings within five business parks – Green Heart, FortyOne, Belgrade Business Center, 19 Avenue and GTC House, with a total of 122,175 square metres GLA. Indotek Group is a Hungarian property investment, utilization and development company. Its portfolio…

Is Tax Brawl between the Serbian Government and Freelancers about to End?

The Serbian Government announced that it has reached a final deal with a group representing interests of freelance internet workers on the partial amnesty for the unpaid past income tax and social security contributions and on the new rules of taxation of their income.

BDK Advokati Contributed the Serbian Chapter to the 2021 Chambers Global Practice Guide on Life Sciences

The Serbian chapter gives an overview of the regulatory regime for the life sciences sector in Serbia.

The National Bank of Serbia Risks Own Goal with the New Position on Cross-border Secured Transactions

The National Bank of Serbia released interpretative guidance regarding the application of the foreign exchange regulations on certain cross-border transactions.

New Rules on Regional State Aid in Serbia

The Government of Serbia adopted on 11 March 2021 two new bylaws under the State Aid Control Act.

Exit of Mid Europa Partners from Dairy Producer IMLEK

Following the sale of confectionery business to Coca-Cola HBC and water business to Matoni-PepsiCo, Mid Europa Partners is to exit from the dairy producer IMLEK.

Loans from Non-EU IFIs No Longer Subject to Minimum Tenor Requirements in Serbia

National Bank of Serbia has updated its regulation of cross-border loans and guarantees involving Serbian borrowers and security providers .