Moravcevic, Vojnovic and Partners in cooperation with Schoenherr has advised Agri Europe Cyprus on its acquisition of a 74.94% stake in Hipotekarna Banka Podgorica. Komnenic & Partners advised a group of corporate, family, and individual sellers.
The transaction remains contingent on regulatory approval.
Agri Europe Cyprus is a financial holding company in Southeast Europe with subsidiaries including AIK Banka, AIK Leasing, Eurobank Direktna in Serbia, and Gorenjska Banka and GB Leasing in Slovenia.
According to Schoenherr, the transaction involves the purchase of 7,674,285 shares at a price of EUR 9.77 per share. Post-closing, Agri Europe Cyprus plans to launch a mandatory takeover offer in accordance with Montenegrin capital markets regulations.
According to Komnenic & Partners, upon the completion of the transaction, "Agri Europe Cyprus will hold approximately 74.94% of Hipotekarna Banka’s share capital, with the remaining significant stake retained by Miljan Todorovic and his corporate affiliates."
Earlier in 2024, Schoenherr advised on takeover bids for Addiko Bank (as reported by CEE Legal Matters on May 28, 2024).
The Schoenherr team included Partners Matija Vojnovic, Vojimir Kurtic, and Zoran Soljaga, Of Counsel Dusan Obradovic, Attorney at Law Petar Vucinic, and Associates Luka Milosevic, Stefan Dobras, and Zeljko Loci.
The Komnenic & Partners team included Managing Partner Milos Komnenic, Attorney at Law Desanka Kotlaja, and Associates Jovana Petrovic and Bozo Knezevic.
