North Macedonia Update
Establishing the Registry of Ultimate Beneficial Owners in North Macedonia
On 27 January 2021, the Central Registry of North Macedonia officially launched the long awaited Registry of Ultimate Beneficial Owners (“UBO Registry”). Entities incorporated in North Macedonia now have an obligation to register their UBOs in the UBO Registry within the following three months, cost – free. After the expiration of this period provided to […]
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Karanovic & Partners advised DPE
DPE acquires majority stake in ballistic defense provider Mehler Vario System
DPE Deutsche Private Equity (DPE) has acquired a majority stake in M-Sicherheitsbeteiligungen GmbH (Mehler Vario System) from investment holding Armira. Karanovic & Partners team led by Partner Ivan Nonković as well as Associate Marko Ćulafić, have worked in cooperation with Clifford Chance for DPE, on the local aspects of the transaction. Mehler Vario System is […]
Read more Serbia marks the 40th anniversary of the Data Protection Convention
Data Protection Commissionaire Publishes a Q&A Overview of its Practice
The Serbian Data Protection Commissionaire hosted an event on 28 January, marking the 40th anniversary of the day when the Council of Europe’s data protection convention, known as “Convention 108”, was opened for signature. Due to COVID-19 restrictions, the event was organised in the form of a webinar, and only the speakers and a handful […]
Read more Pontes, Karanovic & Partners and enervis publishing a market intelligence guide
Renewable Energy Investment Guide to be published soon
Net Zero 500 scenarios are being examined by The EU Commission and leading experts in year 2020, and it has been concluded that a combination of energy efficiency measures and sector coupling with intermittent renewable energy generation as the major energy source is the most effective. In the meantime, many governments in CEE/SEE countries are […]
Read more 2nd Belgrade ICC Construction and Arbitration Conference
Karanovic & Partners at 2nd Belgrade ICC Construction and Arbitration Conference
2nd Belgrade ICC Construction and Arbitration Conference was organized virtually in Belgrade by the ICC International Court of Arbitration with the support of ICC Serbia, Serbian Arbitration Association and law firms Karanovic & Partners and Pinsent Masons. The event, spearheaded by Senior Partner Milan Lazić, Partner Milica Savić and counsel Ana Luković, was held online […]
Read more Updated regulation for cross-border loans
Amendments to NBS Decisions on Cross-Border Loans
On 15 January 2021, the National Bank of Serbia adopted amendments to two of its decisions related to cross-border loans: Decision on the Terms and Conditions of Using Foreign Financial Credits for Purposes Set out in Article 21, Paragraph 2 of the Law on Foreign Exchange Operations; and Decision on Conditions and Manner in Which […]
Read more Tax news: Serbia
Updates to the Serbian Tax Legislation
At one of the last sessions, the Serbian Parliament adopted amendments to the tax laws governing the taxation of companies and natural persons, as well as general tax procedures. The main driver for the reform was the introduction of the taxation regime for digital assets and open-end and alternative investment funds. Also, as part of […]
Read more Major acquisition in the Energy sector
Closing of the Largest Cross Border Acquisition in the Croatian Biomass Sector
In the very last days of 2020, our colleagues from Ilej & Partners in cooperation with Karanovic & Partners closed the largest cross border investment into the Croatian biomass sector until today. The client, Pearl Infrastructure Capital, a French investment fund specialized in investments into the renewable energy sector, acquired Energy 9, a Croatian group […]
Read more Karanovic & Partners supports Alibaba and Yahoo!
Alibaba and Yahoo! (Verizon) Appoint Karanovic & Partners as their Privacy Representative in Serbia
Alibaba, one of the world’s largest retail and e-commerce companies, and Oath Inc., a subsidiary of Verizon operating under the Yahoo! brand (amongst others), have appointed Karanovic & Partners as their data protection representatives in Serbia. In this capacity, Karanovic & Partners is authorised to act on behalf of these companies in relation to their […]
Read more SAS Acquires Tech Company Boemska
Karanovic & Partners advised SAS on acquisition of Boemska
SAS Institute Inc, the global leader in analytics, announced that it has acquired Boemska, a privately held technology company specializing in low-code/no-code application deployment and analytic workload management for the SAS® platform. This is a multi-jurisdictional acquisition, as Boemska has R&D center in Serbia. Karanovic & Partners team, led by Partner Ivan Nonković and Associate Marko […]
Read more Acquisition in the Lottery Industry
Karanovic & Partners Advised Pollard Banknote on the Acquisition of Next Generation Lotteries
Pollard Banknote Limited announced that it has signed a definitive agreement to acquire 100% of the equity of Next Generation Lotteries AS („NGL“), a leading provider of lottery management and iLottery technology, for the purchase price of 36 million EUR. The Acquisition is subject to certain standard regulatory and third-party consents and is expected to […]
Read more COVID-19 Slovenia Update
Seventh Anti-Corona Act – Measures for Employers
On 29 December 2020, the Slovenian National Assembly adopted the Seventh Anti-Corona Act[1], which entered into force on 31 December 2020. The Seventh Anti-Corona act provides for the following measures relevant for the employers: “Forced” retirement Pursuant to the Seventh Anti-Corona Act, an employer may terminate an employee’s employment agreement with a notice period […]
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Impact of the Seventh Anti-Corona Act on lease agreements
On 29 December 2020, the National Assembly of the Republic of Slovenia adopted the Intervention Measures Act to Mitigate the Consequences of the Second Wave of the COVID-19 Epidemic (“Seventh Anti-Corona Act”), which entered into force on 31 December 2020. According to the Seventh Anti-Corona Act a lessees of business buildings or business premises (“business […]
Read more Competition Update - Croatia
Croatian Competition Agency Publishes its Analysis of the On-Line Booking Sector
In December 2020, the Croatian Competition Agency (the “Agency”) published a summary of its’ analysis of the online booking market. The analysis came as a result of a growing influence of digital economy in the accommodation sector, both globally and in Croatia, as a significant tourist destination. The main focus of the sector inquiry was […]
Read more The New Law on Digital Assets
Serbia Regulates Digital Assets
The Serbian Parliament adopted the new Law on Digital Assets (the “Law”), which came into force on 29 December 2020 and will start applying 6 months later, in an effort to bring legal certainty to what has so far been considered a legal gap. In parallel to the adoption of the Law, the Parliament has […]
Read more Legal Update – Montenegro
Tax Administration Introduces the Possibility of Electronic Registration of Business Entities
The Tax Administration of Montenegro is implementing a project that will enable the electronic registration of economic entities as well as several other electronic services related to the register of economic entities through the eFirma portal (https://efirma.tax.gov.me). The completion of the entire project, which is planned in the mid-2021, will establish a system for electronic […]
Read more Focus on Competition 14th Edition
New “Focus on Competition” Annual Publication is Out
Karanovic & Partners is proud to announce that the 14th edition of our annual Focus on Competition publication is finally out. As in previous years, the latest edition features articles from some of the most prominent figures in the field of competition law. As this year marked the 16th anniversary of the establishment of the […]
Read more Competition Conference 2020 – Online Edition
Karanovic & Partners’ 15th Competition Conference Held Online for the First Time
Karanović & Partners, together with Friedrich Naumann Foundation for Freedom, held on 15 December 2020 our traditional annual Competition Conference, online for the first time in 15 years. More than 100 attendees from different parts of the world joined our Zoom session in order to discuss the latest developments in the field of competition law. […]
Read more Competition Update: Croatia
Transposition of the ECN+ Directive in the Pipeline
In December 2020, the Croatian Competition Agency (the “Croatian NCA”) initiated public consultations concerning the amendments to the existing Competition Law, with plans to publish an official report by the end of January 2021. The intention of the amendments is further harmonization with the acquis, i.e. transposition of ECN+ Directive[1]. The proposed amendments will introduce […]
Read more Energy Update - Croatia
Croatian Renewables Incentives Tender – Deadline Approaching
On 12 November 2020 the Croatian Energy Market Operator (“HROTE“) published the first public tender for granting feed-in tariffs (“FIT“) and premiums (“FIP“) incentives under the newly established renewable energy sources incentive system. The deadline for bid submission expires on 12 December 2020. Under the new legal framework, FITs are reserved only for production facilities […]
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