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Karanovic & Partners

RESAVSKA 23, 11000 BELGRADE, SERBIA
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Work +381 11 30 94 200
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Fax +381 11 30 94 223
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www.karanovicpartners.com/
Banja Luka, Belgrade, Ljubljana, Podgorica, Sarajevo, Skopje and 1 more

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Mid Europa Partners sells Knjaz Miloš to KMV and PepsiCo

June 2019

Mid Europa Partners, the leading private equity investor in Central and Eastern Europe, announced today the agreement to sell its shares in Knjaz Miloš to a joint venture between Karlovarské Minerální Vody (KMV) and PepsiCo, Inc. (PepsiCo). The transaction is currently subject to customary regulatory approval and is expected to close in Q3 2019.

Karanović & Partners acted as local counsel for  Mid Europa Partners in this transaction, working closely with White & Caseas international counsel. In 2015, the firm successfully advised Mid Europa Partners on its acquisition of Knjaz Miloš, as well as Imlek and Bambi.

Knjaz Miloš is the leading producer of mineral water and non-alcoholic beverages in Serbia and the surrounding region. It has more than 200 years of corporate history and strong innovative portfolio which includes natural sparkling mineral water KNJAZ MILOŠ, natural non-carbonated mineral water AQUA VIVA and energy drink GUARANA.

KMV is the leading producer of mineral water and non-alcoholic beverage distributor in the Czech Republic and on this deal it partnered with PepsiCo, a multinational food, snack, and beverage corporation.

The Karanovic & Partners legal team was led by Managing Partner Rastko Petaković, Partner* Miloš Jakovljević and Associate* Sava Drača, and the services included conducting a vendor due diligence and transaction assistance.

 *Independent attorney at law in cooperation with Karanović & Partners

Legal Developments by:
Karanovic & Partners

  • Use of a Feed-In Premium for Photovoltaic Electricity

    The  Government of North Macedonia  announced an open call for awarding a contract for the use of a feed-in premium for electricity produced in photovoltaic power plants (“PVPPs ”) on state land in North Macedonia, with total installed capacity of 35 MW. Two locations are envisaged for construction of the PVPPs – Azambegovo (Sveti Nikole) and Manastirec (Makedonski Brod). Bidders can submit a bid for three PVPPs, at most, for the location of Azambegovo, as well as one PVPP on the location of Manastirec. The installed capacity of the PPVPs on the mentioned locations can be 10 MW, 5 MW, 2 MW and 1 MW depending on the parcel. The term of the contract for the use of a feed-in premium will be 15 years.
    - Karanovic & Nikolic

Legal Developments in Serbia

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  • Use of a Feed-In Premium for Photovoltaic Electricity

    The  Government of North Macedonia  announced an open call for awarding a contract for the use of a feed-in premium for electricity produced in photovoltaic power plants (“PVPPs ”) on state land in North Macedonia, with total installed capacity of 35 MW. Two locations are envisaged for construction of the PVPPs – Azambegovo (Sveti Nikole) and Manastirec (Makedonski Brod). Bidders can submit a bid for three PVPPs, at most, for the location of Azambegovo, as well as one PVPP on the location of Manastirec. The installed capacity of the PPVPs on the mentioned locations can be 10 MW, 5 MW, 2 MW and 1 MW depending on the parcel. The term of the contract for the use of a feed-in premium will be 15 years.
  • Welcome to the Slovenian Legal Market

    This article is written by  Marko Ketler  and originally published in Issue 6.4 of the  CEE Legal Matters Magazine .
  • Investing in the Slovenian Automotive Production Industry

    This article was written by Igor Angelovski and was originally published in Issue 6.2 of the  CEE Legal Matters  Magazine. 
  • Niš-Ekspres Fined for Abuse of Dominance

    On 24 May, the  Serbian Competition Commission  fined the bus company Niš-Ekspres from Niš (“Niš-Ekspres ”) for the abuse of dominant position in the amount of RSD 40,726,439 (app. EUR 345,000), which is 1.3% of the total turnover generated by Niš-ekspres in 2016.
  • What to watch out for in case of a hard Brexit and ZUVIZK

    The  European Commission  consistently emphasises the citizens’ rights and status in its hard Brexit preparations and contingency works. It appealed to EU Member Stats to take a generous approach towards the rights of UK citizens in the EU, given that the UK reciprocates such an approach. Therefore, in line with the Commission’s “no-deal” Contingency Action Plan, the Slovenian Government proposed and the Parliament adopted the Act regulating certain issues in the event of the withdrawal of the United Kingdom of Great Britain and Northern Ireland from European Union without an Agreement (ZUVIZK).
  • Karanovic & Partners wins the Law Firm of the Year Award

    We are proud to announce that Karanovic & Partners is the 2019 winner of the prestigious Law Firm of the Year award, in the Eastern Europe and the Balkans category. 
  • Serbia: The Registration Of Ultimate Beneficial Owners

    As of 31 December 2018, the Central Registry of Ultimate Beneficial Owners was established within the  Serbian Business Registers Agency  (the “Registry”), in line with the Law on Ultimate Beneficial Owners (“Official Gazette of the RoS no. 41/2018).
  • Karanovic & Partners joins Ius Laboris

    We are proud to announce that Karanovic & Partners has joined Ius Laboris, the world's premier global network of human resources law firms. The Employment practice of Karanovic & Partners in Serbia joined this prestigious organisation to reinforce its international HR advisory services for domestic and international companies.
  • Karanovic & Partners: The 13th Traditional Conference on Competition Law and Data Protection

    On 28 November 2018, Karanovic & Partners, together with the  Friedrich Naumann Foundation for Freedom , held the Competition and Data Protection conference at the Hilton Belgrade hotel. This traditional yearly conference – now in its' 13th year, gathered more than 120 experts from the business and legal community, as well as key regulators and stakeholders, to discuss the most important current issues in the fields of competition law and data protection.
  • Serbia Enacts a New Data Protection Law

    In light of the new EU data protection scheme, shaped by the GDPR, Serbia has enacted a new Data Protection Law on 9 November 2018, with its' applicability postponed for 21 August 2019. The new law was long-awaited: it has been 10 years since the existing law was passed, which was even at that moment already outdated (e.g. it recognized only consent in the written form and almost completely restricted data transfers to non-European countries).