New Health-related Legislation in Serbia

BDK Advokati's Associate Zorana Brujic provides an insight into the implications of the new  Health Protection Act in Serbia. The new Health Protection Act (Zakon o zdravstvenoj zaštiti "Official Gazette of RS", no. 25/2019) and Health Insurance Act (Zakon o zdravstvenom osiguranju "Official Gazette of RS", no. 25/2019) have come into force on 11 April 2019.

BDK Advokati at the XI Belgrade Arbitration Conference and Belgrade Pre Moot Competition

BDK Advokati Managing Partner, Tijana Kojovic chaired the second panel at the XI Belgrade Arbitration Conference, devoted to the taking of evidence in arbitration. The conference attracted more than 150 practitioners, academics and students. The activities of BDK Advokati’s arbitration team continued during the weekend on 6-7 April when BDK Advokati hosted 24 teams competing at the Belgrade Pre Moot.

Cross-border ESPPs and ESOPs in Serbia – has anything really changed?

Serbian residents are generally allowed to acquire shares in foreign companies. However, the Serbian Capital Markets Act (CM Act) prohibits cross-border public offers of shares directed at Serbian residents. Public offer is defined as any notice providing sufficient information on the conditions of the offering and the securities being offered so to allow offerees to decide on the purchase of, or subscription to, the securities. Public offer of shares must be conducted in accordance with the procedure prescribed by the CM Act. This includes an obligation of a foreign offeror to register the prospectus with the SEC. Moreover, a foreign issuer cannot offer on the Serbian market securities denominated in foreign currency but may offer only Serbian dinar-denominated depository certificates relating to the foreign securities.
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Gorenje Announces Sale of Serbian Subsidiary Gorenje Tiki

Gorenje, the major Slovenian household appliance manufacturer, announced that in the coming weeks, it will publish a call for bids for its Serbian subsidiary Gorenje Tiki, a small water heater manufacturer. Gorenje also intends to sell the Tiki brand along with the subsidiary. Gorenje Tiki is the fourth largest water heater manufacturer in Europe. Ninety percent of its products are exported to 34 countries across the globe, primarily to Germany, Austria, Croatia, and Russia. The Serbian market is the third largest and Gorenje Tiki's market share there is 40 percent. Gorenje opened the Serbian…

Sale of Lasta a.d.

The Republic of Serbia has announced its intention to privatise Lasta a.d. by selling the state share of 77%. Lasta a.d. is one of the major companies in the transportation sector with a great fleet of coaches for transportation of passengers on local and international lines. The Republic of Serbia contracted BDO Business Advisory Belgrade as a privatisation consultant which finalised its report at the beginning of April 2019. The tender for the sale should take place by June. The minimum price for the sale is unknown, while BDO estimated the value of Lasta a.d. in a range between EUR 16 million…

Sale of Petrohemija a.d.

The Republic of Serbia has announced its intention to sell 62% of its share in Petrohemija a.d. in 2019. Petrohemija a.d. is the largest petrochemical company in Serbia. The Republic of Serbia is yet to select a privatisation advisor. The minimum price for the sale has not been set and the estimated price of the company is unknown. Gazpromneft has been mentioned as the most serious contender for the purchase of Petrohemija a.d., but lately, companies from Poland and China also expressed interest for the purchase.

Sale of Komercijalna Banka a.d.

The Republic of Serbia has announced a tender sale of the majority share of Komercijalna Banka.  Komercijalna Banka is among the top five banks in Serbia with approximately 11% of the market share. The Republic of Serbia has engaged with consortium Lazard, KPMG, and Prica and partners that should analyse the bank's business and advise with the selection of a potential buyer. Their work should be finalised by May 2019 when the tender for the sale should be scheduled. The tender is expected to take place in May-June 2019. The minimum price for the sale is unknown. According to publicly disclosed…

Belgrade Airport Concession Wins IJGlobal European Airports Deal of the Year 2018

IJGlobal, the market intelligence platform covering the global infrastructure finance, has awarded its prestigious IJGlobal Awards at the annual awards ceremony held on 21 March 2019 at the Natural History Museum, London. The magnificent venue was an appropriate setting to mark the achievements of global infrastructure and project finance professionals. The Belgrade Airport Concession has been awarded the European Airports Deal of the Year 2018 becoming the first Serbian transaction to have ever been awarded this respected industry award. BDK Advokati is proud to be a member of the team that…

Bogdan Ivanisevic and Marko Popovic in Copyright 2019 by Chambers

BDK Advokati has contributed a Serbia chapter to Chambers Global Practice Guide Copyright 2019, one of the Chambers and Partners Global Practice Guides. Each country chapter, including the chapter on Serbia, provides detailed answers to 71 questions concerning the categories of copyrightable works, authorship and copyright ownership, economic and moral rights, exceptions to copyright, neighbouring rights, and copyright infringement and litigation. The analysis was authored by Bogdan Ivanisevic, Partner, and Marko Popovic, Associate.

BDK Advokati Hosted the Belgrade Vis Moot Team in their Offices

BDK Advokati hosted the law students from the Belgrade Vis Moot team in their Belgrade offices for a dry-run in preparation for the forthcoming XII Belgrade Open Pre-Moot and XI Belgrade Arbitration Conference. BDK Advokati has been traditionally supporting both events and wishes best of luck to the Belgrade team in Munich, which is the next stop of their preparation for the Willem C. Vis International Commercial Arbitration Moot. Many thanks to BDK Advokati’s colleagues Milan Dakic, Jelena Zelenbaba and Filip Susulic for being tough but fair mock arbitrators!

Valvoline to Acquire FAM’s Production Plant and Related IP Rights

BDK Advokati represented Ellis Enterprises d.o.o. a subsidiary of Valvoline (NYSE: VVV), in the acquisition of the production facility and IP rights from Serbian lubricant producer FAM for a purchase price of EUR 9.5 million. As a result of this acquisition, Valvoline will add to its portfolio FAM’s products which are well-known in the Balkan region.

The New Medical Devices Act in Serbia

BDK Attorney at Law Bisera Andrijasevic provides an overview of the implication of the new Medical Devices Act in Serbia. The new Medical Devices Act, which had entered into force already on 1 December 2017, became applicable on 1 December 2018. The adoption of this legislation marks the beginning of distinct legal treatment of medical devices, separate from the treatment of medicinal products which remain regulated by the old Medicines and Medical Devices Act.