NNDKP Assists Holcim Romania With the Acquisition of Stones Business Development SRL
April 2023
Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Holcim Romania, one of the leaders in the construction materials industry in Romania, with the expansion of its aggregates division through the acquisition of 100% of the shares of Stones Business Development SRL, which operates an aggregate station and a sand and gravel mining exploitation.
NNDKP assisted Holcim Romania in all phases of the transaction, from performing the due diligence analysis on the target company and its mining activities, to advising the client in the negotiation of the share sale-purchase agreement,…
NNDKP Successfully Assisted Grupo Bimbo with the Acquisition of Vel Pitar
March 2023
NNDKP confirms that Grupo Bimbo has included Romania in its global growth strategy and has completed the acquisition of Vel Pitar as a nation-wide development platform.
NNDKP acted as local legal counsel for Grupo Bimbo, advising on all aspects of the acquisition of Vel Pitar, from transaction structuring to negotiation and completion. NNDKP assigned a multidisciplinary team specializing in agribusiness and food M&A (as well as day-to-day) assistance to advise on the transaction. The team was coordinated by Adriana I. Gaspar (Senior Partner), and included Corina Dumitru (Partner), George…
ESOPs in Serbia
February 2023
Employee share-based incentives are still relatively rare in Serbia, compared to more traditional cash bonuses. The Serbian Companies’ Act was updated in 2018 to provide, for the first time, a basic framework for implementing share incentive plans in a limited liability company, which is by far the most popular corporate form in Serbia. Share-based incentives in public joint-stock companies have not gained prominence due to undeveloped capital markets. Salary tax and social security contribution exemption were introduced in 2019 for stock options and underlying shares offered…
Use of Cookies and Its Practice in Turkiye
January 2023
Kolcuoglu Demirkan Kocakli Attorneys at Law's partner Maral Minasyan and associate Baybora Gokbora, LL.M. wrote an article on the use of cookies and its practice in Turkey.
It is available here.
From This Year Serbian Exports to Germany Should Comply With International Human Rights and Environmental Standards
January 2023
Author: Relja Radovic, BDK Advokati
Another foreign law overflowing to the Serbian market
On 1 January 2023, the German Act on Corporate Due Diligence Obligations in Supply Chains (“Supply Chain Act“) entered into force (an English translation is available here). The Supply Chain Act is a product of a long-term and global aspiration to introduce international human rights standards, often in combination with environmental standards, into the corporate world and throughout supply chains. (We wrote earlier about other examples of such legislation.) However, considering that…
Update on the Montenegrin Rules on Special Residence Regime for Digital Nomads
December 2022
After the Foreigners’ Act announced in August 2022 new temporary residence permit regime for digital nomads, the Ministry of Interior has now enacted a bylaw which regulates the details of the procedure and documents required for the permit.
Entry into Montenegro
While the Foreigners’ Act remained ambiguous as to whether an applicant must enter Montenegro with type D visa (long term visa) in order to apply for temporary residence permit even if from a country to which Montenegro applies a visa-free regime, the bylaw makes it clear that the type D visa is not necessary in such…
Merkur Osiguranje d.d. Acquires Wustenrot Zivotno Osiguranje d.d.
December 2022
DTB is proud to announce that after obtaining all regulatory approvals, one of the leaders in the Croatian insurance sector, Merkur osiguranje d.d. Hrvatska, completed the acquisition of a well-known life insurance company Wusternot zivotno osiguranje.
DTB’s Corporate, Regulatory, Employment, Dispute Resolution, IP, and Real Estate teams jointly performed comprehensive legal due diligence on the target company.
DTB’s acquisition team consists, among others, of Senior Partner Mario Krka and Attorney Dominik Glavina.
DTB Assists PPD in Selling 50% Shares in TMF, Majority Shareholder of Petrokemija d.d.
November 2022
Divjak Topic Bahtijarevic & Krka (DTB) has assisted Prvo plinarsko drustvo, the leading subsidiary of the largest Croatian private company ENNA, in the disposal of its participation in joint venture company Terra Mineral Fertilizer Ltd. (“TMF”). TMF is the largest shareholder of the only Croatian fertilizer company - Petrokemija. The majority stake in Petrokemija has been sold to Turkish conglomerate Yildrim Group, and the completion of the transaction is subject to customary approvals of regulators in several jurisdictions. DTB has assisted Prvo plinarsko drustvo with…
Montenegro – Soon to Become a Destination for Digital Nomads?
May 2022
Author: Jelena Brajkovic, BDK Advokati
On 18 May 2022, a group of MP’s proposed amendments to the Foreigners’ Act to introduce the possibility of obtaining a temporary residence permit for digital nomads. The parliamentary debate on the amendments is expected to start at the beginning of June 2022. The amendments are designed to attract foreigners from IT and other mobile sectors to Montenegro.
Digital nomads
The proposed amendments to the Foreigners’ Act define digital nomads as foreign individuals (whether they are registered as entrepreneurs or not) who provide Montenegro…
CEECAT Capital Acquires a Majority Stake in Gomex
April 2022, BDK Advokati
CEECAT Capital, private equity and private credit investor, has acquired a majority ownership interest in Gomex d.o.o., a leading neighborhood grocery store chain in Serbia. Gomex has approximately 2500 employees and more than 190 retail stores spread across Serbia. The investment will enable Gomex to accelerate its growth and expansion plans in Serbia.
The investment in Gomex is the first in Serbia for CEECAT Capital. With its sale to CEECAT Capital, SEAF South Balkan Fund has sold its last investment in that Fund while Gomex’s founder Mr. Goran Kovacevic remains in…
BDK Advokati Advised Yokohama Rubber
March 2022
Yokohama Rubber Co., Ltd., a tire manufacturing company based in Japan, entered into a share purchase agreement with the Swedish-based Trelleborg AB to acquire all shares of Trelleborg Wheel Systems Holding AB, a company engaged in the manufacture and sale of off-highway tires for agricultural and forestry machines, material handling, construction vehicles, motorcycles, and other specialty segments. The enterprise value is over EUR 2 billion.
BDK Advokati advised Yokohama Rubber on the Serbian law aspects of this acquisition, along with Freshfields Bruckhaus Deringer as international…
Serbia Activates Temporary Protection for Displaced Persons Fleeing Ukraine
March 2022
Author: Relja Radovic, BDK Advokati
On 17 March 2022, the Government of Serbia adopted the Decision on the Temporary Protection in the Republic of Serbia of Displaced Persons from Ukraine (available in Serbian here). The decision was published on 18 March 2022, and it entered into force on 19 March 2022.
According to the Asylum and Temporary Protection Act (Official Gazzete No. 24/2018), the Government can activate the temporary protection regime in the event of a mass influx of displaced persons who are unable to return to the country of origin or usual residence, if there is…
