Moravcevic Vojnovic and Partners in cooperation with Schoenherr > Belgrade, Serbia > Firm Profile

Moravcevic Vojnovic and Partners in cooperation with Schoenherr

Serbia > Banking and finance Tier 1

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has an enviable track record in financings involving restructurings, private acquisitions of equity and assets, public takeovers, project finance, and property development. The firm’s ‘exceptional lawyers’ also advise on investment grade corporate lending, and are particularly experienced in cross-border structures. Practice leader Nikola Babić comes highly recommended, while corporate and M&A head Matija Vojnović is also a key banking and finance group member. The department further features Jelena Arsić and Marko Kostić, who ‘provide strong legal support’, and Jovan Barović and Vojimir Kurtić.

Practice head(s):

Nikola Babić; Matija Vojnović


‘A great team of exceptional lawyers. Truly knowledgeable but also efficient and innovative. They provide superb service at reasonable prices – definitely the best value for money around.’

‘This firm possesses very good supporting departments and services, which certainly improves the experience since it allows clients to fully focus on its relevant projects.’

‘The banking and finance practice has great expertise and good relations with clients.’

‘The team members are very clever and they have lots of knowledge. Also, they are dedicated and really good people above all.’

‘Long-term relationships with clients, which speaks volumes to their quality.’

‘Matija Vojnović and Vojimir Kurtić are exceptional when it comes to banking and finance – superbly good lawyers.’

Jelena Arsić and Marko Kostić are great – they provide strong legal support to companies. Jelena remains poised, serene and professional, even in very stressful and challenging situations. They work extremely hard and are dedicated to projects throughout the entire process.

Key clients


AIK Banka

OTP Group

AMC IV and Accession Capital Partners

Alexander Shnaider, the owner of Adriatic Bank A.D. Podgorica

Innovation Fund of the Republic of Serbia

Deutsche Bank

UniCredit Bank

Credit Suisse International

Commerzbank AG

National Bank of Greece SA

Erste Bank

Banca Intesa

HETA Asset Resolution

Bank Of Cyprus

The European Bank for Reconstruction and Development (EBRD)

International Swaps and Derivatives Association (ISDA)

Societe Generale

OTP Bank

PNB Paribas (Suisse)

Magyar Export-Import Bank Zrt

Raiffeisen Bank International AG

Citigroup Global Markets Limited


Deutsche Bank AG

J.P. Morgan Securities plc

Sun Valley

Oaktree Capital Management (UK) LLP

Victoria Oil (Serbia)

Eurobank a.d. Beograd

Eurobank Private Bank Luxembourg S.A

Vojvođanska banka a.d. Novi Sad (member of OTP Group)

Export-Import Bank of China

Work highlights

  • Advised MERRILL LYNCH INTERNATIONAL (and other financial institutions) on the arrangement of a €300m term loan facility with the Republic of Serbia.
  • Advised AIK Banka on the acquisition of Eurobank Direktna, which involved the refinancing of intra-group placements.
  • Acted as lead counsel to OTP Group members, OTP Bank Plc Hungary and OTP Bank Serbia on the financing of the development of six biogas power plants in Serbia.

Serbia > Commercial, corporate and M&A Tier 1

Recent mandates for Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s corporate and commercial practice include a plethora of private M&A deals, with the group also being active in energy transactions. An M&A adviser to strategic investors and private equity firms, Matija Vojnović heads the corporate and M&A practice alongside retail, consumer goods, pharmaceutical, telecoms and automotive sector specialist, Luka Lopičić. The team also showcases telecoms and energy industry specialist Slaven Moravčević; M&A expert Vojimir Kurtić; ‘exceptional lawyerJovan Barović; and Bojan Rajić, a specialist in contracts and investment incentives.

Practice head(s):

Matija Vojnović; Luka Lopičić

Other key lawyers:


Experience, knowledge, attitude, professionalism, great collaboration, and an understanding of the M&A process.’

‘This law office is unique in the excellent support it provides to clients. Clients are very pleased with their work.’

‘Efficient and very knowledgeable on M&A practice in Serbia.’

‘They have a very good legal risk approach to transactions.’

‘Matija Vojnović is excellent.’

‘Jovan Barović stands out as an exceptional lawyer. Clients are unequivocally pleased with both his work and skilful approach to handling matters.’

‘Jovan Barović’s role in successfully steering through various complex cross-border mandates, particularly acquisitions, is of immense significance for clients and really helps them.’

‘Igor Živkovski is very knowledgeable. A great professional and a true authority when it comes to corporate law and M&A. He coordinates other lawyers very well, and makes sure clients get the best advice within the shortest time possible.’

Key clients

AIK Banka

CWP Europe


Emirates Telecommunications Group Company


Max Bet doo Novi Sad

Würth Group

Deva Pharmaceuticals


Brighton Park Capital

Greiner Packaging International

AMMA Import Export GmbH


Carlyle Group

Nidec Corporation

Integral Venture Partners

Elektroprivreda Srbije (Serbian power utility company)

Syneos Health

BM Consulting GmbH

Masdar Taaleri Generation



Shoppster DOO Beograd

TN Invest Anstalt

Opportunity Transformation Investments, Inc.

Work highlights

  • Advised AIK Banka on the acquisition of Eurobank Direktna.
  • Advised Emirates Telecommunications Group Company (alongside an international law firm) on the acquisition of a controlling stake in PPF Telecom Group’s assets in Bulgaria, Hungary, Serbia and Slovakia.
  • Advised United Group on several acquisitions in the region.

Serbia > Competition Tier 1

Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s recent mandates include antitrust investigations into alleged cartels and abuses of dominant positions. The group also fields experts in merger control proceedings, damages actions, state aid issues, and competition law compliance. Srdjana Petronijević heads the EU competition practice group for the Balkans, while Danijel Stevanović advises on competition law and FDI control matters. The practice further includes Zoran Šoljaga, a former senior legal adviser at the Serbian Commission for Protection of Competition, and Minela Šehović, who assists with merger control proceedings.

Practice head(s):

Srdjana Petronijević

Other key lawyers:


Experts, professionalism, proactiveness, and broad experience.’

‘Composed of excellent competition law practitioners who are appreciated for their professional dedication and detailed assessment of every competition law issue.’

‘They know how to handle complex proceedings before the Competition Authority.’

‘Knowledge, professionalism and responsiveness.’

‘They provide legal commentaries and news updates about the activities of the competition authorities in the region and EU (and new practices), which are very valuable.’

‘A modern law firm that uses new tools and new ideas in the provision of its legal service.’

‘Srdjana Petronijević is a prominent antitrust lawyer, who is particularly valued for her strategic approach and level of expertise. Srdjana is a great team leader and a person who is easy to reach and to work with. She is able to provide clear advice and to find practical solutions to complex matters.’

‘Zoran Šoljaga – great experience, punctual, and thinks out of the box.’

Key clients

Ford Otosan




Schaeffler AG



Austrotherm GmbH

Fiat Chrysler Automobiles



Apatinska pivara (Molson Coors)

Alma Quattro





Japan Tobacco International

Intesa Sanpaolo Bank










Unicredit Group


Oaktree Capital


Pepsico Group

L’Oréal Group

Work highlights

  • Successfully assisted Microsoft with obtaining merger control clearance from the Serbian Competition Authority, in relation to its intended purchase of Activision Blizzard for $68.7bn.
  • Advised NielsenIQ on merger control proceedings regarding the acquisition of sole control of GfK SE.
  • Advised Audi AG and Islero Investments AG on merger control proceedings in front of the Serbian, Montenegrin, Macedonian and Albanian competition authorities, regarding Audi AG’s acquisition of joint control over Sauber Holding AG.

Serbia > Dispute resolution Tier 1

In addition to Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s commercial and investment treaty arbitration expertise, the group covers construction, insolvency, energy, and labour law-related disputes. Jelena Bezarević Pajić is ‘an outstanding arbitrator practitioner’; Nataša Lalatović Đorđević specialises in commercial and corporate litigation, and investment and commercial arbitrations; and Slaven Moravčević acts in investor-state and commercial arbitrations. The practice additionally features corporate and M&A head Matija Vojnović, who also assists with high-stakes arbitrations, and the ‘exceptionally brightVanja TicaTanja Šumar and Dragana Nikolić are other experienced practitioners.

Practice head(s):

Slaven Moravčević; Nataša Lalatović Đorđević; Jelena Bezarević Pajić


‘The arbitration team in Belgrade is top flight, competing with bigger rivals in Western European capitals at highly-competitive rates.’

‘Their attention to detail and ability to master the facts in Balkan-related arbitration matters is unmatched.’

‘The whole team is a pleasure to work with in every respect.’

‘Slaven Moravčević provides great motivation and support for the team and ensures each member has all they need to perform at their peak, while also providing fantastic strategic guidance and invaluable insights into regional legal issues and practices.’

‘Jelena Bezarević Pajić sees the whole picture, always remaining on top of the strategy and consistently ensuring effective implementation of such strategy.’

Jelena Bezarević Pajić is an outstanding arbitrator practitioner and a seasoned leader. Her outstanding skills in arbitration have earned her a reputation for fairness, precision and success in resolving complex disputes.

‘Tanja Šumar has superb organisational and case-management skills.’

Vanja Tica is an exceptionally bright and knowledgeable attorney. Clients and colleagues alike hold her in high regard for her sharp intellect and ability to navigate complex legal matters.

Key clients


Greiner Packaging

Huawei Technologies d.o.o.

State of Montenegro

Elektroprivreda Srbije (EPS)

United Group B.V.

Adria Serbia Holdco B.V.

Serbia Broadband – Srpske kablovske mreže

UniCredit Bank

Rio Tinto


Wiener Stadtische


Alma Quattro d.o.o.

Global Dominion

Eurobank a.d. Beograd

Mera Investment Fund Limited

Anadi Bank

Cooper Standard d.o.o. Sremska Mitrovica

Capital Estate

Energoprojekt Oprema a.d. Beograd (part of Energoprojekt group)

Lidl (Serbia)

NLB Bank


Work highlights

  • Acting as lead counsel to three claimants (United Group, Adria Serbia Holdco and Serbia Broadband–srpske kablovske mreže d.o.o. Beograd) bringing an investment treaty claim against the Republic of Serbia.
  • Successfully acted for Mera in an ICSID arbitration against Serbia for compensation for expropriated investments.
  • Acted for United Group in a high-value litigation concerning an unfair competition claim raised by the state-owned telecoms incumbent.

Serbia > Employment Tier 1

Very responsive and up to date on all relevant developments’, Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s labour and employment team routinely works alongside the firm’s corporate practice on the employment aspects of major M&A deals. With ‘extensive experience in labour law’, the broad expertise of IT sector expert Marija Vlajkovic includes labour-related dispute resolution. Flanking Vlajkovic, Bojan Rajic is a specialist in contracts and investment incentives, who advises international clients when they launch on the Serbian market.

Practice head(s):

Marija Vlajkovic

Other key lawyers:

Bojan Rajic; Tijana Levakov


‘They have been very responsive and up to date on all relevant developments.’

‘Quick to respond to clients’ requests.’

‘Marija Vlajkovic is a valued partner who fully understands clients’ business, and is always available to provide advice on the matter at hand.’

‘Clients know they can rely on their expertise.’

‘Prompt to answer queries.’

‘They know clients’ business well and understand their challenges.’

‘Marija Vlajkovic has extensive experience in labour law and can quickly provide examples and exemptions to any situation, which is exactly what clients expect.’

Key clients







Salus Group

Adria News doo

United Media Production doo

NS Smart Evolution doo



Humania HRS Group

Globalization Partners

TOMRA Collection Srbija


United Group


SAP West Balkans d.o.o.

Immofinanz AG




Nepi Rockastle

Phoenix Group

Crowe Horwath





RP Global


Work highlights

  • Advising BlackRock on day-to-day matters, as well as a mass workforce downsizing.
  • Providing regular employment advice to OMV.
  • Advising Adient Automotive on various day-to-day employment matters.

Serbia > Projects and energy Tier 1

Moravcevic Vojnovic and Partners in cooperation with Schoenherr is consistently involved in infrastructure and energy projects across the CEE. The group’s coverage includes M&A deals, developments, PPPs, and regulatory matters, along with financings, public procurement, and disputes. Serbia, Montenegro and North Macedonia energy practice head, Miloš Laković, is a renewable energy project specialist; Slaven Moravčević is an international and domestic energy project expert; and Matija Vojnović‘s practice covers both M&A and projects. Other key figures are construction law expert Ivana Panić, and energy, infrastructure and regulatory practitioner Aleksandra Petrović.

Practice head(s):

Miloš Laković


‘The projects and energy practice has the best team in town if clients are looking for professional and business-oriented legal support.’

‘Exemplary team – competent and professional.’

‘Engaged firm that sets trends in the industry. Easy and open communication, and valuable discussions on all relevant topics.’

‘Reliance and responsiveness make this team great.’

‘Accuracy, knowledge, thinking outside the box.’

‘Not only provides out-of-the-box solutions, but also genuinely cares for clients’ business needs.’

Miloš Laković is a person clients want to have by their side for complex energy projects. His vast knowledge of the development of various renewables projects in the country, and in relation to drafting legislation, is remarkable.

‘Miloš Laković and Aleksandra Petrović are truly a force to be reckoned with on the Serbian energy market. They make an excellent team – they deliver top-notch legal advice on short notice and have exceptional understanding of the local market (both legally and business wise).’

Key clients

Trina Solar

ETMax d.o.o.

Serbia National Stadium

Fortis Energy

Erste Bank


OTP Bank

Government of Montenegro (Ministry of capital investments – energy sector)

Government of Serbia (Ministry of mining and energy)

I+D Energias

NELT Group


European Federation of Energy Traders (EFET)

D.Trading International SA

Serbian Ministry of Mining and Energy


JP Elektroprivreda Srbije (Serbian power utility company)

Masdar (United Arab Emirates)

GCL (People’s Republic of China)

Rio Tinto


Carlyle Group

RP Global



Taaleri Finland

Montenegrin power utility – Elektroprivreda Crne Gore

Shanghai Electric Power

City of Belgrade

Energy Community




New Power Generation International

University of Belgrade – Faculty of Transport and Traffic Engineering

Serbian Agency for Road Traffic Safety

Work highlights

  • Assisting the Government of Serbia and the EBRD with designing a new legal and regulatory framework, in relation to the promotion of renewable energy in Serbia.
  • Advising Trina Solar on the acquisition of solar projects in Serbia.
  • Advised Alstom on various aspects of its involvement in the Belgrade Metro project.

Serbia > Real estate and construction Tier 1

Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s real estate practice has a significant track record in deals throughout the region. Clients also benefit from the group’s leveraging of the firm’s enviable banking and finance sector credentials. Ivan Pantović specialises in real estate in Serbia, Montenegro, North Macedonia, and Bosnia and Herzegovina; Slaven Moravčević has longstanding expertise in real estate development projects; and Ivana Panić is a construction law expert. The department also features banking and finance head Nikola Babić and ‘brilliant lawyerJelena Arsić, along with Dijana Grujić.

Practice head(s):

Slaven Moravčević; Ivana Panić

Other key lawyers:


‘As a market leader, MVP consistently sets the benchmark for excellence.’

‘Efficient, excellent value for money and pragmatic. Very good legal judgement as well.’

‘Their strong, cohesive team is backed by innovative strategies and a depth of expertise that is unmatched.’

‘Potential clients will quickly recognise that compared to other firms, this team’s capabilities and approach are truly second to none.’

‘Ivana Panić has profound knowledge of FIDIC-type contracts, which eases clients’ relations with employers during the execution of the project.’

‘Nikola Babić is an expert in all financial matters, covering all aspects from A to Z. His comprehensive knowledge is unparalleled and he consistently offers insights that are both sharp and astute.’

‘Jelena Arsić is a brilliant lawyer who really stands out in the market. She is dedicated and very reliable, working non-stop. Clients feel safe when working with her.

‘In a complex financial landscape, Nikola Babić stands out as a beacon of clarity, guiding clients through challenges with ease. His dedication to ensuring clients are always legally protected and informed is commendable. Clients are fortunate to have such an exceptional advisor steering their legal course.’

Key clients

OTP Bank

ETMax d.o.o.




Naftna industrija Srbije (NIS)

Parking Servis


Immofinnanz AG


NEPI Rockcastle PLC (NEPI)


AmRest Holdings SE

The European Bank for Reconstruction and Development (EBRD)


Hidroelektrana Dabar d.o.o. Trebinje

Xprimia Group

Work highlights

  • Advised Alstom on various aspects of its involvement in the Belgrade Metro project.
  • Acted as lead counsel to OTP Group members, OTP Bank Plc Hungary and OTP Bank Serbia on a biogas project finance transaction.
  • Advising large hotel operator Hyatt on a franchising arrangement with Montenegrin company Krolbay, which relates to a condo hotel, comprising approximately 206 accommodation units, as well as 27 apartments and 21 villas.

Serbia > Intellectual property Tier 2

Moravcevic Vojnovic and Partners in cooperation with Schoenherr‘s ‘very qualified‘ IP team advises on a range of IP work. Examples include trade mark registrations, as well as complex matters such as illegal streaming, online infringement and IP disputes. The department also advises several blue-chip multinationals on their IP portfolios, particularly in relation to copyright, unfair competition and transaction-related IP issues. IP head Andrea Radonjanin is ‘one of the key figures in IP law in Serbia’. Supporting Radonjanin are Magdalena Petreska and Andrej Zoric, who both maintain active IP practices.

Practice head(s):

Andrea Radonjanin

Other key lawyers:


‘Clients enjoy perfect cooperation with the firm. It is definitely one of the best, if not the best, law firms in Serbia.’

‘Andrea Radonjanin is one of the key figures in IP law in Serbia.’

‘In relation to their IP department, they are very qualified and have huge knowledge of this area of law.’

‘Andrea Radonjanini is always willing to discuss new trends and complex issues in IP law.’

‘What makes Andrea Radonjanin so unique is the huge knowledge that she has developed over the years.’

‘Possesses a formidable breadth of expertise that spans across diverse international jurisdictions.’

‘Andrea Radonjanin is a true expert.’

‘Andrea Radonjanin possesses extensive expertise and a profound understanding of this domain, making her an invaluable resource for any pertinent guidance.’

Key clients

Serbian Gaming Association



Cveće Zla

Dorćol Platz

Maya Milano

MIK MIK d.o.o.

Brighton Park Capital

Beiersdorf AG

United Group

United Media S.a.r.l.

Alliance for creativity and entertainment


Laboratoires La Prairie SA



Rio Tinto




Nis a.d.


3bank (ex Opportunity bank)


Work highlights

  • Advising a client in safeguarding the integrity of a brand’s reputation against fraudulent profiles that use its name and trade mark.
  • Successfully taken measures to deactivate multiple online servers that were utilised by different infringers to host illicit content.
  • Advising SGA members on a range of IP issues.

Bosnia & Herzegovina > Competition Tier 2

With extensive regional experience, particularly in Serbia and Bosnia, the competition team at Moravcevic Vojnovic and Partners in cooperation with Schoenherr is led by Belgrade-based partner Srdjana Petronijević, handling multi-jurisdictional merger control and infringement cases. Head of the Bosnia office Minela Šehović is a ‘great professional with large experience in the competition area,’ whose work includes advising global and regional clients on merger control and merger clearances. Another key member of the team is Danijel Stevanović, who regularly advises national and international clients on competition law and FDI control matters.

Practice head(s):

Srdjana Petronijevic

Other key lawyers:

Danijel Stevanovic; Minela Šehović


‘Minela Šehović is a great professional with large experience in a competition area. It was pleasure working with such profound attorney at law, that brings our company closer to the business reputation we want to achieve. Minela gave huge contribution to that goal, and we will work with her and Schoenherr Sarajevo Office in future for sure!’

‘Good expertise and pleasant to work with.’

‘Minela Šehović provides good, practical advice and is on top of the matters.’

Key clients

Elektroprivreda Srbije

Thales Group


Phoenix Pharma

United Group

UniCredit Bank d.d. Mostar

Unicredit bank a.d. Banja Luka

Elektroprivreda Republike Srpske

CIAK Group

Siemens AG Group





Work highlights

  • Advising Elektroprivreda Republike Srbije (EPS) on a broad range of services, including in obtaining merger clearances of Competition Authority of Bosnia and Herzegovina and other competition authorities in the region regarding its acquisition of a 51% share in HES Gornja Drina.
  • Advised Nike and Converse regarding distribution policy in the region.
  • Advised the Thales Group in multiple proceedings challenging the public procurement of Bosnia and Herzegovina passport booklets.

Bosnia & Herzegovina > Banking, finance and capital markets Tier 3

Specialising in project financing in the energy sector, the banking, finance, and capital markets team at Moravcevic Vojnovic and Partners in cooperation with Schoenherr also advises on project investments and real estate financing. Matija Vojnovic leads the team, while Jelena Arsić‘s expertise includes advising national financial institutions, handling acquisition finance mandates, and capital markets. Minela Šehović and Ivana Panić are other key members of the team.

Practice head(s):

Matija Vojnovic


‘ I’ve worked with the team for several years on various complex matters. Their service has consistently met my expectations, and I greatly appreciate their deep knowledge in handling complex issues. It’s always a pleasure working with them.’

‘Matija Vojnovic brings a wealth of experience to the table. He’s approachable and solution- focused, possessing extensive knowledge of the region from both legal and business standpoints. Minela Sehovic is a meticulous lawyer well-versed in the local market. Her proactive and responsive approach is highly commendable. Jelena Arsic is an exceptional lawyer known for her pragmatic problem-solving skills.’

‘The wide network in the region with very strong team.’

‘This team is top-tier in the market. Unmatched know-how in transactions and projects, they’ve got it all. Best choice for any situation, hands down.’

‘Jelena is an excellent team leader and standout lawyer. She’s the kind of legal expert you want steering the ship. Trustworthy and hardworking, we feel secure with her team. She is the next generation partner.

‘Matija Vojnovic is the kind of legal ace who turns problems into solutions. Highly respected and exactly who you want in your corner when things get tough. Great to have on our side.’

‘Minela Sehovic knows both the law and the market really well. She’s the go-to for market insight and legal know-how.


Key clients

Etmax d.o.o.


UniCredit Bank a.d. Mostar

UniCredit Bank a.d. Banja Luka


VTB Bank

Hidroelektrana Dabar

United Group

Wiener Insurance Vienna Insurance Group a.d


EOS Matrix

Work highlights

  • Advised UniCredit Bank a.d. Banja Luka in adispute with Bitminer Factory, overturning a EUR 131 million first instance judgment.
  • Advised HES Gornja Drina on the financing and construction of HPP Buk Bijela, a 55 m high concrete gravity dam, and hydropower plant.
  • Advised Hydro Power Plant “Dabar” Ltd, ERS as borrower, and Government of the Republic of Srpska as guarantor, on the financial closing of EUR 189 million loan facility.

Bosnia & Herzegovina > Commercial, corporate and M&A Tier 3

Jointly led by Matija Vojnovic and Luka Lopičić, the commercial, corporate, and M&A team at Moravcevic Vojnovic and Partners in cooperation with Schoenherr has extensive expertise in project related work, particularly in government-related areas including PPPs, energy related disputes, and privatisation. The team also has key strengths in corporate restructurings, particularly in consumer gods, pharma, and the automotive sector across the CEE region, while advising on share sales and general acquisitions. Advising both international and regional clients on market entry, Minela Šehović also handles shares acquisitions for energy consulting and IT companies and public procurement. Bojan Rajic is another key member of the team, with experience in financings and advisory work regarding regulated industry.  

Practice head(s):

Matija Vojnovic; Luka Lopicic

Other key lawyers:


‘Minela Sehovic is an excellent professional with very good knowledge and customer-oriented attitude. It has been a pleasure interacting with her.’ 

Key clients

Edison Energy





United Group

Thales Group

Auto Milovanovic d.o.o.


Ringier Group

Phoenix Pharma


Getinge Group

Hidroelektrana Dabar d.o.o.

Javno preduzeće Elektroprivreda Republike Srbije (JP EPS)

Tom Tailor GmbH


Caparol d.o.o.

Partnera Oyj


Work highlights

  • Advised UniCredit Bank a.d. Banja Luka in a landmark victory of the dispute with Bitminer Factory and overturning a EUR 131 million first instance judgment.
  • Advised Edison Energy, a US-based global energy advisory company, on acquisition of shares in two Bosnian companies.
  • Advised HES Gornja Drina  on the financing and construction of HPP Buk Bijela.

Bosnia & Herzegovina > Real estate, construction and projects Tier 3

The real estate, projects, and energy team at Moravcevic Vojnovic and Partners in cooperation with Schoenherr is led by Matija Vojnovic, advising on construction, financing, and corporate matters relating to solar power plant projects, buy outs of minority shares in the lithium mining industry, among other significant renewable energy projects. Minela Šehović advises on inbound and cross-border energy companies in their market entry and general corporate work, as well as work related to merger control proceedings, with a focus on obtaining merger clearances. Another key member of the team is Bojan Rajic, whose expertise includes advising a joint venture between power utility companies and advising a public body borrower on the development of a hydropower plant project.

Practice head(s):

Matija Vojnovic

Other key lawyers:

Key clients

Edison Energy

ETMax d.o.o.

Thales Group

Arcore AG

Hidroelektrana Dabar d.o.o.

Elektroprivreda Srbije

Azvirt Limited Liability Company

Partnera Oyj

Work highlights

  • Advised HES Gornja Drina on the financing and construction of HPP Buk Bijela, a 55 m high concrete gravity dam, and hydropower plant with designed installed capacity of 114,6 MW.
  • Advised Hydro Power Plant “Dabar” Ltd, ERS as borrower on the financial closing of EUR 189 million loan facility granted by the Export-Import Bank of China (CEXIM) for the development of the hydro power plant “Dabar.”
  • Advised ETMax d.o.o. on construction, financing and corporate matters relating to solar power plant in Nevesinje municipality.

Montenegro > Leading firms

Moravčević Vojnović and Partners in cooperation with Schoenherr is a ‘top quality‘ full-service law firm, with particular expertise in M&A, banking and finance, and project development. Practice head Slaven Moravčević is an expert in dispute resolution, and specialises in telecommunications, energy, and privatization mandates. Nikola Babić heads the banking and finance group, and Miloš Laković focuses on energy and infrastructure projects with a particular emphasis on renewables. The group also includes Luka Veljović, who provides ‘expert advice‘ on a wide range of issues relating to corporate and construction matters. Other key members of the team include real estate specialist Ana Ivanović, Vasilije Grgurević who is proficient in capital market matters, as well as Petar Vučinić and Ana Cerović.

Practice head(s):

Slaven Moravčević


‘The team is highly effective, and always focuses on our highest priority. They are effective lawyers, they seek the heart of matter, and suggest how to reach the agreement or resolution based on experience and knowledge.’

‘I would like to highlight their organization skills, experience, and availability. They provide us with the needed answers in an exceptional turnaround time, and they are always good at helping us with minimizing or mitigating legal risks. ’

‘They are available to provide expert advice when required, which is customized to our relevant needs and requirements.’

‘Expertise in derivatives, LMA docs, and bonds.’

‘I’ve had a very good experience working with the firm. Their partners and lawyers provided top quality services helping to solve bottlenecks and finding the right solutions. I find the lawyers knowledgeable and reliable.’

‘Luka Veljović is great at communication, easily comprehensible, available when required, and has a friendly attitude.’

‘Nicola Babic is one of the best lawyers in the Balkans region.’

‘Nikola Babic is available 24/7.’

Key clients



Deutsche Bank AG


State of Montenegro

Enemalta plc

Shanghai Electric Power

ICBC Austria Bank GmbH


Mozura Wind Park doo Podgorica

Elektroprivreda Crne Gore AD Nikšić (EPCG)


United Group

Enel Global Trading

Citigroup Global Markets Limited

Erste Group Bank AG

Merrill Lynch International

Société Générale as the Joint Lead Managers

The Ministry of Transport and Maritime Affairs of Montenegro

UNIQA Insurance Group AG

UNIQA Österreich Versicherungen AG

Raiffeisen Bank International AG


Hydra Brokerage DMCC

Société Générale

Atena Bohor

Novi Volvox

Work highlights

  • Advised Deutsche Bank AG Frankfurt and Deutsche Bank AG’s London Branch on a EUR 100 million term facility agreement with the State of Montenegro.
  • Advising the German retail supermarket chain Lidl on expanding its presence in the region and entering the Montenegrin market.
  • Advising one of the largest hotel operators, Hyatt, in relation to the franchising arrangement with a Montenegrin company Krolbay d.o.o. The franchising relates to a condo hotel consisting of approximately 206 accommodation units, as well as 27 apartments, and 21 villas located on the Montenegrin seaside, in the bay of Kotor.

Croatia > EU and competition

Noted for its strong merger control fillings offering, Schoenherr in cooperation with Croatian lawyers regularly represents domestic and international clients before the Croatian Competition Authority. With a strong track record in M&A, Ana Mihaljević (Marjančić) leads the team, handling cross-border competition and antitrust matters. Christoph Haid assists on distribution policy changes related to EU law, while Zoran Soljaga advises on a range of contentious antitrust issues.

Practice head(s):

Ana Mihaljević (Marjančić)

Other key lawyers:

Christoph Haid; Zoran Šoljaga


‘Schoenherr in cooperation with Croatian lawyers for the EU and the competition team stands out due to their expertise and experience: the team comprises highly skilled lawyers with extensive experience in competition law, both in Croatia and within the broader European context. They also have a client-centric approach, since the the team prioritizes the needs and objectives of its clients.’ 

‘Ana Mihaljević (Marjančić) is excellent; down to earth and pleasant to work with. And most importantly, she really does know how to get things done fast and efficiently without over complicating.’

‘The team is co-ordinated, experienced and very reliable.’

‘Ana Mihaljević (Marjančić)’s powerful and effective written and verbal communication is crucial. The ability to convey complex ideas clearly and persuasively is a key asset. Also, she is very adaptable and her adaptability and willingness to learn and grow are much appreciated.’

Key clients

GTC Group

Kraft Heinz Company

Philip Morris Zagreb d.o.o.

HRANA-TEC d.o.o.




Polleo Adria d.o.o.

Work highlights

  • Aadvised Nexi/ISP on long-form merger control filing before the Croatian Competition Authority related to the acquisition of ISP’s EUR 180 million worth of merchant acquiring business.
  • Advised Wienerberger Vargon on long-form merger control filing before the Croatian Competition Authority.
  • Advised GTC on implementation of a set of group compliance policies and procedures.

The firm: Schoenherr is a leading full service law firm, with 15 offices and several country desks in the Central and Eastern Europe. As one of the first international law firms to move into CEE/SEE, the firm has grown to be one of the largest firms in the region.

Moravcevic Vojnovic and Partners in cooperation with Schoenherr has been active on Serbian market since 2002. With a team of more than 50 lawyers, it is among the largest law firms in Serbia. In addition to the Serbian practice, Moravcevic Vojnovic and Partners in cooperation with Schoenherr is frequently engaged in Bosnia and Herzegovina and Montenegro and North Macedonia. This combination makes the firm exceptionally well suited for cross-border or multi-jurisdictional investments and transactions in the West Balkan countries.

Areas of practice: The firm’s main practice areas are corporate, mergers and acquisitions, banking and finance, real estate, dispute resolution, competition, compliance and white collar crime, labour and employment, intellectual property IT and life sciences, insolvency and restructuring, insurance, regulatory and energy.

Among the firm’s frequent clients are companies from the telecommunication, banking, insurance, construction, oil and gas retail, real estate development and IT industries. The firm acts for governments and governmental bodies, investors/contractors, sellers/buyers, employers, developers, engineers, architects and other stakeholders and thus has experience in handling and protecting these different interests, giving the firm’s lawyers particular insight into the opportunities and risks relevant to any project. The firm has played a major role as legal advisor in many of the high profile deals of recent years in Serbia, Bosnia and Herzegovina, Montenegro and Macedonia.

Department Name Email Telephone
Banking, finance and capital markets Nikola Babic
Compliance and white collar crime Srdana Petronijevic
Corporate/M&A Matija Vojnovic
Corporate/M&A Luka Lopicic
Dispute resolution Jelena Bezarevic Pajic
Dispute resolution Nataša Lalatovic Dordevic
EU and competition Srdana Petronijevic
Insolvency and restructuring Nikola Babic
Insurance Matija Vojnovic
IP, IT and life sciences Andrea Radonjanin
Labour and employment Marija Vlajkovic
Labour and employment Nataša Lalatovic Dordevic
Real estate Slaven Moravcevic
Real estate Ivan Pantovic
Regulatory and energy Miloš Lakovic
Photo Name Position Profile
Matija Vojnović photo Matija Vojnović Partner
Number of lawyers : 52
Other offices : Austria (HQ)
Other offices : Belgium/EU
Other offices : Bulgaria
Other offices : Croatia
Other offices : Czech Republic
Other offices : Hungary
Other offices : Moldova
Other offices : Montenegro
Other offices : Poland
Other offices : Romania
Other offices : Slovakia
Other offices : Slovenia
Other offices : Turkey
Other offices : Albania
Other offices : Bosnia & Herzegovina
Other offices : North Macedonia
Other offices : Ukraine