M&A, Corporate and Commercial

BDK has extensive experience in the M&A sector in Serbia, Montenegro and Bosnia and Herzegovina, both in the context of privatisation and private transactions. We are used to managing transactions that spread across the region. Sector experience includes all major industries, such as FMCG, transport, telecoms, energy and financial services. Besides advising on classic M&A, we also assist clients in structuring joint ventures and implementing takeovers.

Within our Corporate & Commercial practice group, we advise on the most appropriate corporate forms for establishing a presence in local jurisdictions, as well as on more complex issues such as acquisition structuring, corporate governance, shareholders’ agreements, corporate finance, capital increases, debt-to-equity swaps, capital reductions and liquidations. BDK has also developed significant experience in takeover bids and related forms of acquiring listed companies, including squeeze-outs and compulsory buy-in schemes.  Our full-service approach allows us to be an effective corporate housekeeper to our clients.  We also advise clients on commercial contracts and the regulatory aspects of their businesses.

"Sources describe Tijana Kojović as a superb lawyer’ who remains a leading figure in the Serbian corporate market. Her extensive work in M&A transactions is bolstered by broad experience in a range of practice areas including real estate, competition and finance. She regularly handles complex multi-jurisdictional mandates and is well versed in matters involving Montenegro."

"Vladimir Dašić regularly handles complex M&A transactions, and his recent caseload includes advising Iron Mountain on its acquisition of Iron Trust. Sources note that he is ‘very good with people – his clients love him.’"

"Dragoljub Cibulić manages the firm's Montenegrin office out of Belgrade. He is noted for his experience in advising foreign clients on their energy and real estate investments in the region. He also has noted expertise in mandates in the construction and infrastructure sectors, including joint venture agreements and privatisations."

- Chambers Global 2017 (SERBIA)

"BDK Advokati has an ‘outstanding’ team. Practice heads Tijana Kojović and Vladimir Dašić provide ‘competent, quick responses and have excellent knowledge of business and political environments’. Recent highlights include advising new client Hesteel Group on its successful bid to acquire a major Serbian steel plant for €43m, which was sold off as part of the country’s privatisation process. It also assisted new client Ball Corporation with an internal corporate restructuring and asset divestment following the £4.3bn acquisition of Rexam..."

- Legal 500 2017 (SERBIA)

"Market-leading group with long-standing expertise in advising domestic and international clients on transactional and regulatory issues. Widely respected for its excellence in M&A and financing transactions, having specialist knowledge in a range of sectors including TMT, infrastructure and energy. Acts on behalf of domestic corporate and industrial clients as well as international investors and private equity funds."

- Chambers Europe 2017 (SERBIA)

"Dragoljub Cibulić leads on real estate and construction mandates from the firm's Belgrade office. He has particular experience in advising energy companies on infrastructure projects across Serbia and Montenegro. Interviewees say: ‘He's business-oriented, proactive and has a very good understanding of PPPs generally.’ Recent work highlights of his include assisting CGES with its JV with Terna for the joint development of an undersea transmission cable between Italy and Montenegro and the construction of additional onshore transmission capacity."

"...Vladimir Dašić is responsible for the firm's M&A practice across the whole of the former Yugoslavia. He is active on numerous Montenegrin mandates and plays a leading role in commercial transactions in the banking, tourism and infrastructure sectors. Of late, he advised Global Ports Holding on the establishment of a Montenegrin subsidiary."

"Luka Popović manages the firm's Podgorica office and focuses on corporate and banking transactions. One client reports: ‘He is both responsive and precise in his analysis.’ He is additionally noted for his expertise in M&A and real estate matters."

- Chambers Global 2017 (MONTENEGRO)

"Leading regional firm that operates primarily out of Belgrade with support from the Podgorica office. Boasts a strong banking and corporate practice, excelling in M&A transactions, privatisations and a range of finance mandates. Advises companies from an array of sectors, with a notable focus on energy, life sciences and technology...

A client praises the firm's global vision regarding business, adding that they ‘are excellent and very responsive.

Clients single out the firm for its understanding of different practice areas, adding: ‘The lawyers are knowledgeable; they meet the deadlines.’"

- Chambers Europe 2017 (MONTENEGRO)

"At BDK Advokati, recently promoted partner Luka Popović is advising French power producer Akuo Energy on the development of a new 74MW windpower plant. Popović is also assisting Swiss retailer Tally Weijl with corporate matters relating to its Montenegrin subsidiary. Serbia based Dragoljub Cibulić is acting for new client CRBC concerning the construction of the new €800m Bar Boljare motorway."

- Legal 500 2017 (Legal market overview - MONTENEGRO)

"The ‘very experienced’ lawyers at BDK Advokati have ‘excellent levels of industry knowledge’ and are routinely involved in prominent transactions in the region. Highlights variously included acting on the privatisation of Telekom Srbija in Serbia, Montenegro and Bosnia and Herzegovina; advising the Bulgartabac plant in Banja Luka on domestic tobacco regulations; and assisting British American Tobacco with its post-acquisition absorption of Croatian tobacco producer TDR. Serbia-based partner Vladimir Dasic and associate Dijana Pejic are recommended."


  • M&A and Corporate

    Serbia: Amendments to the Takeover Act

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  • M&A and Corporate

    Serbian Parliament adopts the Law on Investment

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  • M&A and Corporate

    Serbia: Decree on Strategic Partnership in Privatisation

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  • Privatisation/Corporate/M&A

    Vladimir Dašić speaks at 10th SEE Private Equity and M&A Forum in Belgrade...

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  • Privatisation/Corporate/M&A

    BDK Advokati at the 9th SEE Private Equity and M&A Forum...

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  • Privatisation/Corporate/M&A

    Tijana Kojović and Mirjana Mladenović, Chapter 50: Serbia, in European Mergers & Acquisition Review, Third e...

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