Prica & Partners are pleased to announce that, together with AP Legal, we have assisted the Government of Serbia in the complicated and complex process of privatization of Komercijalna banka ad Beograd – sale of 83.23% ordinary shares of KB owned by the Republic of Serbia to Nova Ljubljanska banka d.d. Ljubljana (NLB), which was one of the most important transaction in the region in 2020.

After 18 months of its commencement, notwithstanding challenging circumstances, the project was successfully closed and completed in December 2020. With total transaction value of Eur 450 million this deal represents the largest ever M&A transaction in Serbian banking sector.

Following implementation of the transaction NLB has become third largest Serbian bank with participation of app. 12% in the total assets in the banking sector. In addition, through indirect acquisition of subsidiaries of KB in Montenegro and Bosnia and Herzegovina existing presence of NLB on these markets has been further strengthened.

Prica & Partners team was led by Danica Gligorijević, Partner with the assistance of Veljko Nešić, Senior Associate. Also, during the due diligence process, in addition to the mentioned lawyers, a great contribution to teamwork was provided by Ana Čalić Turudija, Partner (corporate issues), Jelena Živanović, Senior Associate (employment issues) and Jovana Obradović, Associate (contractual issues).