Serbia: Schoenherr advises AIK Banka on acquisition of Eurobank Direktna

The transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in 2023.

AIK Banka is one of the leading financial institutions in Serbia. Eurobank Direktna has developed its banking business since entering the market in 2003 as Eurobank EFG Serbia. Following the merger with Direktna Banka in 2021, it has become the eighth largest bank in Serbia, offering a full range of banking services to retail, SME and corporate customers. The combination of AIK Banka and Eurobank Direktna will create the second-largest banking operation in the country.

Moravčević Vojnović and partners in cooperation with Schoenherr acted as a Serbian counsel to AIK Banka. The Schoenherr team was led by partner Matija Vojnović and included Vojimir Kurtić (partner) and Dušan Obradović (partner).

HFW acted as English counsel and J.P. Morgan as a financial advisor.