Serbian Competition Authority Interprets Merger Filing Requirements

The Serbian Competition Commission has been laying low since the outbreak of coronavirus, with the activities at the minimum. There has not been much news on its website either, except that on 1 June 2020, it clarified who is considered to be a party to a concentration and how merger filing thresholds are calculated.

BDK Advokati Appointed as Google’s DP Representative in Serbia

Google LLC has appointed BDK Advokati to act as the local representative under the Serbian Data Protection Act.

Possible IPO of the National Telecom Company

The Serbian Minister of Finance stated that one public company may be listed on the Belgrade Stock Exchange in 2020. It is speculated that Telekom Srbija is the state-owned telecom company that may have its shares traded on the Belgrade Stock Exchange. There is no recent estimation of Telekom Srbija’s value.

Sale of Sojaprotein

Sojaprotein is a member of Victoria Group and it is the largest factory for processing of soy in Serbia. The company exports its products for human and animal use to more than 50 countries globally.

Financing of Belgrade Metro Project

Belgrade metro will consist of two lines that should be developed in two stages in the period 2020 – 2025. The total value of the project is approximately EUR 4.4 billion. In September 2019 the Work group, formed by the Serbian government, decided that the Republic of Serbia will be the investor in developing the Belgrade metro. However, it is still not entirely clear how the project will be financed – directly from the State budget with loans from development banks or through some form of private-public initiative. The Work group also decided that the Government should name a special financial…

Construction of Several Facilities in Belgrade for Wastewater Treatment

This project includes the construction of a sewage system in Kaludjerica borough in Belgrade and construction of wastewater treatment facilities in Ostružnica and Obrenovac boroughs in Belgrade. Belgrade city Government is currently preparing project documentation for the Kaludjerica project and it is expected that the tendering procedure for the construction of the facility will be initiated at the beginning of 2021. The dates for the tendering procedure for the construction of Ostružnica and Obrenovac facilities have not been disclosed yet.

Belgrade Waste Management PPP Deal Wins IFLR Europe 2020 Award in Project Finance

BDK Advokati is proud to announce that the project financing for the Belgrade waste management PPP project has received the IFLR Europe DoY 2020 award.

Development of Corridor 11 and Šumadija Corridor

Corridor 11 should connect central and western Serbia with the Montenegrin border. A good part of the corridor from Belgrade to Čačak has been finalised but it is unclear when the development of project documentation for the remaining part will be initiated. Šumadija corridor should connect the two existing Corridors 10 and 11. The road should spread between central and eastern Serbia. It is also unclear when the development of project documentation will be initiated.

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.

Serbia: New Act on Games of Chance

The new Serbian Act on Games of Chance, adopted in March this year, is set to apply from 10 April 2020.

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 the value of Lasta a.d. has been estimated in a range between EUR 16…

Possible Sale of a State-owned Petrochemical Company

HIP Petrohemija a.d. is a state-owned petrochemical company based in Pančevo (north Serbia) with 76% of the stake owned by the Republic of Serbia and the remaining 24% - by Naftna Industrija Srbije a.d. (Serbian oil company owned by Gazpromneft).