Serbia: Schoenherr advises on acquisition of Expobank A.D. Belgrade

This transaction is a step towards expanding the successful business of Adriatic Bank A.D. Podgorica, which has seen continuous growth since the change in ownership in 2020.

Adriatic Bank A.D. Podgorica is the fifth-largest bank in Montenegro in terms of asset size and the youngest bank in the Montenegrin market. The financial stability of the bank is based on profitable operations and liquidity indicators that are among the highest in the system, while its steady growth has been continuously supported by the owner through additional capital and retention of realised profits. The experience and success of Adriatic Bank A.D. Podgorica in Montenegro will provide a good foundation for positive changes in Expobank A.D. Belgrade.

Moravčević Vojnović and partners in cooperation with Schoenherr acted as a counsel to the owner of Adriatic Bank A.D. Podgorica. The Schoenherr team was led by partner Matija Vojnovic and included Vojimir Kurtic (partner) and Dusan Obradovic (partner). Danijel Stevanovic (partner) advised on merger control matters. KPMG Belgrade acted as a financial advisor.