Agri Europe Cyprus to Acquire Major Stake in Hipotekarna Banka
Deal News | Dec 17, 2024 | CEE Legal Matters
Agri Europe Cyprus is set to acquire a significant stake in Hipotekarna Banka, pending regulatory approval. The transaction will see the purchase of 7,674,285 shares at EUR 9.77 each, resulting in Agri Europe Cyprus controlling approximately 74.94% of the bank’s share capital. The acquisition includes a strategy to launch a mandatory takeover offer in accordance with Montenegrin capital market rules. Legal advice for the transaction was provided by Schoenherr and Komnenic & Partners. The deal highlights Agri Europe Cyprus's presence in Southeast Europe's financial landscape, with existing subsidiaries such as AIK Banka and Gorenjska Banka.
Sectors
- Financial Services
- Legal Services
Geography
- Montenegro – The acquisition target, Hipotekarna Banka, is a Montenegrin financial institution, and the transaction is subject to Montenegrin capital markets regulations.
- Southeast Europe – Agri Europe Cyprus operates in Southeast Europe with subsidiaries in Serbia and Slovenia, indicating its geographic focus.
Industry
- Financial Services – The transaction involves entities in the banking and financial services sector, including Hipotekarna Banka and financial holding company Agri Europe Cyprus.
- Legal Services – Schoenherr and Komnenic & Partners provided legal advisory services for the transaction, indicating involvement of the legal services industry.
Financials
- EUR 9.77 per share – The price at which Agri Europe Cyprus is purchasing shares of Hipotekarna Banka.
- 74.94% shareholding – The proportion of Hipotekarna Banka's share capital that Agri Europe Cyprus will hold post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Agri Europe Cyprus | Bidding Company | Company | A financial holding company with subsidiaries in Southeast Europe, acquiring a significant stake in Hipotekarna Banka. |
| Hipotekarna Banka | Target Company | Company | A financial institution in Montenegro, the target of the acquisition by Agri Europe Cyprus. |
| Schoenherr | Legal Advisor | Company | A law firm that advised Agri Europe Cyprus on the acquisition transaction. |
| Komnenic & Partners | Legal Advisor | Company | A law firm that provided legal advice for the acquisition transaction. |
| Miljan Todorovic | Significant Stakeholder | Person | Holds a significant retained stake in Hipotekarna Banka post-transaction. |