Major Acquisition in Wiring Harness Industry
Volex Acquires Murat Ticaret
Karanovic & Partners in cooperation with local lawyers, provided legal support to Volex for the Macedonian law aspects of the transaction involving the proposed acquisition of Murat Ticaret Kablo Sanayi A.S. (“Murat Ticaret”) – a leading manufacturer of complex wire harnesses, for approximately €178.1 million. The acquisition is expected to complete later in 2023 when […]
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Serbia: Legislation Update
New Amendments to Construction Law: Enhancing Development and Energy Efficiency
The Serbian parliament has adopted new amendments to the Law on Planning and Construction (“Construction Law”), introducing a series of novelties expected to significantly impact the construction industry, urban planning, and energy efficiency. The most important amendments are: abolishment of the land conversion fee, mandatory energy passports for all buildings, mandatory installation of chargers for […]
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DS Smith to Acquire Bosis doo
DS Smith, a leading sustainable packaging provider, has announced it had entered into an agreement to acquire Bosis doo, a high-quality packaging company in Serbia. The acquisition is complementary to the business’ existing regional packaging activity in Eastern Europe and will support its growth drive in the region. Our team, led by Partner Miloš Jakovljević […]
Read more Intellectual Property Practice in Serbia
Serbian Court Determined a True Nature of the IP Assignment Agreement in Food Industry Case
The Commercial Court in Belgrade has delivered a pivotal judgment, setting guidelines for cases related to intellectual property and contractual disputes. Our client, the plaintiff in this case, is an established owner of a well-known brand in the food industry. The backstory of this dispute traces back to almost 20 years ago when our client […]
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Report on Copyrightability of AI-Generated and AI-Assisted Works Released by INTA’s Copyright Committee
Karanovic & Partners is proud to announce that our Senior Associate Nikola Kliska, Head of the IP Department, was one of the co-authors of a pioneering report titled “Copyrights and Neighboring Rights in Outputs Made by or Made by Means of AI Systems”. The report was conducted under the AI and 3D sub-committee of the […]
Read more Serbia’s Energy Sector: Latest Developments
Karanović & Partners Advises ClonBio Group on Project Financing for Six Biogas Power Plants in Vojvodina
Karanović & Partners advised Pannonia Green in a multi-million EUR biogas project financing transaction with OTP Group, one of the largest banking groups in Central and Eastern Europe. Pannonia Green is a joint venture between ClonBio Group, a market leader and large-scale producer of bioproducts and renewable energy in Europe and America, and Asicon, a […]
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OTP Group Acquires ILIRIKA Fund Management Company
OTP Fund Management, Hungary, and OTP Banka Srbija have jointly acquired ILIRIKA DZU, the Serbian subsidiary of the Ljubljana-based ILIRIKA group providing asset management services. With this transaction, OTP Group strengthens the Serbian capital market and becomes an active player in it. Karanović & Partners was the lead counsel of OTP Group on this transaction. […]
Read more Albania Legislation Update
Albania – Legalization of Cannabis for Medical and Industrial Purposes
On Friday 21 July 2023, the Albanian Parliament adopted a law which legalizes medical cannabis and industrial hemp (“Cannabis Law”). The Cannabis Law allows licensed companies to cultivate and process cannabis and determines the criteria which must be met to obtain such a permit, but also regulates the cultivation process of the plant and the […]
Read more International Summer School in Belgrade
Karanović & Partners Hosts International Students for a Workshop
The Belgrade Summer School in Law & Economics, an annual event organised by the University of Belgrade’s Faculty of Law and Serbian Law and Economics Associations, successfully took place from 13 to 15 July. The primary objective of the event was to offer 25 international students a valuable opportunity to attend a series of lectures […]
Read more Data Protection Update
A Lifeline for Data Transfers: EU-US Data Privacy Framework Is Back On
In the long-awaited aftermath of the havoc caused by the CJEU’s decision (adopted in 2020 in the famous Schrems II case) to invalidate the previously existing EU-US Privacy Shield Framework, the European Commission adopted the adequacy decision promoting the new EU-US Data Privacy Framework (the “Framework”) on 10 July 2023. The Framework concludes that the […]
Read more Protection of Competition in Montenegro
A Proceeding Against the Association of Tourist Agencies of Montenegro
On 10 July 2023, the Agency for the Protection of Competition of Montenegro initiated a proceeding against the Association of Tourist Agencies of Montenegro for an alleged breach of the Competition Law. Namely, during dawn raids conducted on the business premises of certain tourist agencies, the Agency came into possession of a Pricelist of services […]
Read more Call for Tender in North Macedonia
Invitation for Prequalification for Construction of Sub-Section of the Skopje-Blace Motorway in North Macedonia
The Public Enterprise for State Roads of North Macedonia (“PESR”) published an invitation for prequalification (“Invitation for Prequalification”) for works for the construction of a 10.5 km long sub–section of the TEN-T Route 6 Motorway (“Project”). The Project is the second phase of the TEN-T route from the Kosovo – North Macedonia border to Skopje. […]
Read more Spotlight on Croatian Media
Pluralis Invests in Telegram Media Grupa
Media Development Investment Fund, a New York-registered fund specialized in investment in independent European media, via its Amsterdam-based affiliate Pluralis B.V., has finalised its acquisition of a minority stake in Croatian digital media publisher – Telegram Media Grupa d.o.o. This investment is supposed to enable Telegram to further grow its digital advertising and subscription business […]
Read more Novelties for Freelancers in Serbia
Online Portal for Freelancers in Serbia is Launched
On 30 June 2023, the web portal for freelancers https://frilenseri.purs.gov.rs/, operated by the Tax Administration was launched. Our Senior Associates Sava Drača, Milijana Tomić and Katarina Tomić attended the launching conference organized by Naled at Metropol Palace in Belgrade. The main purpose of the portal is to enable freelancers to submit their tax returns. More […]
Read more Tourism & Hospitality in Serbia
First Moxy Hotel Opens in Belgrade
American multinational hospitality company Marriott International has opened its first Moxy hotel in Belgrade, Serbia. The hotel – equipped with 131 guestrooms and two conference rooms – is located in the city centre, within one of the oldest cultural neighbourhoods of Belgrade. The design of the property is inspired by art and architectural moments of […]
Read more Bolstering Montenegro Tourism Infrastructure
CKB Bank Signs Project Financing Agreement for Kotor – Lovćen Cable Car
CKB Bank, a member of OTP Group, has recently signed a project financing agreement for the construction of the first cable car in Montenegro, with the company Kotor – Lovćen Cable Car. It was followed by the signing of the direct agreement with the Government of Montenegro. The successful completion of this transaction was facilitated […]
Read more Business Breakfast in Slovenia
Labour Law Breakfast: Presenting News Developments
On 20 June, our colleagues from Ketler & Partners, member of Karanovic, organised their second Business Breakfast in Ljubljana, Slovenia. The event took place in the Intercontinental Hotel. The event’s purpose was to present new developments in the field of labour law to current and prospective clients, and participants were eager to share their expertise […]
Read more Public Call for Auctions
Breaking News: Serbia Initiates Auctions for Awarding Market Premium for Solar and Wind
The Ministry of Mining and Energy of the Republic of Serbia published the public call for auctions for awarding of market premiums (in the form of CfD) for wind and solar projects earlier today (Wednesday, 14 June 2023). As per an earlier announcement, the total quota for premiums amounts to 400MW for wind power plants […]
Read more The Synergy between AI and HR
AImpactHR Conference: Embracing AI for Effective HR Practices
At the very end of April, the AImpactHR conference took place in Belgrade, delving into the intriguing subject of artificial intelligence and its influence on the field of human resources. It was organized by O.U.R. HR, the organisation of HR professionals in Serbia. The conference stood out as the audience actively engaged in the discussions. […]
Read more Multilaw Event in Belgrade
Karanović & Partners Hosts Multilaw 2023 EMEA Regional Conference
On 2 and 3 June in Belgrade, Karanovic & Partners played host to the 2023 EMEA conference, organized by Multilaw, an international network of law firms. This regional gathering brought together legal professionals from across Europe, the Middle East, and Africa to exchange insights, discuss industry trends, and forge connections. Jon Heuvel, EMEA Regional Chair […]
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