.
.
.
.
News/ Karanović & Nikolić Wins the 2017 Deal of the Year Award
---
07/06/2018
---

We are pleased to announce that Karanović & Nikolić has won the 2017 Deal of the Year Award for Serbia for the EBRD and IFC financing of Vetrolektrane Balkana - Čibuk 1 Windfarm. Organized by the renowned CEE Legal Matters magazine, this is the first year that these awards were held and they are a way of recognizing the biggest and most important deals by leading law firms in Central and Eastern European jurisdictions.

The prestigious accolade was awarded on 6 June at the CEE Legal Matters Annual Dinner and Awards Banquet in Prague. Before an audience of over 100 senior legal professionals from across the region, Rastko Petaković, Managing Partner at Karanović & Nikolić, accepted the award on behalf of the firm.

"It is a huge privilege to receive this prestigious award, which came as a recognition of the enormous effort put in by everyone involved in this landmark deal which marked 2017 and had a huge impact on the energy sector in the region", said Mr. Petaković. "I am particularly proud of our young generation of Karanović & Nikolić partners who led the team and once again proved our firm's dedication to excellence. We would also like to congratulate our clients, the EBRD and IFC, and thank them for an opportunity to work on deal of this significance and magnitude."

The deal for which Karanović & Nikolić won the award is the EUR 215 million financing of Čibuk 1, developed by Vetroelektrane Balkana. With an installed capacity of 158 MW, Čibuk 1 will be the largest windfarm in the Western Balkans. Apart from creating hundreds of new jobs and improving local infrastructure, this project should give a critical contribution to Serbia meeting its commitment to have 27% of its gross energy consumption coming from renewable energy sources by 2020.

The Karanović & Nikolić core legal team – led by partners Maja Jovančević Šetka and Petar Mitrović, with partner Katarina Gudurić and associate Marija Vićić, acting as the local counsel for EBRD and IFC, advised on all local law aspects of the financing, including the preparation of due diligence and support in the negotiations of the facility agreement and other financing and project documents. Norton Rose Fulbright from London acted as the international counsel to the lenders in this deal.

Out of a total of three deals which are in the finals for the jurisdiction of Serbia, Karanović & Nikolić has been shortlisted with two – the Financing of Vektroelektrane Balkana and the National Bank of Greece's sale of Vojvođanska Banka to OTP.

Related People

Related News

News

Zijin Mining Officially Takes Over RTB Bor

19/12/2018
News

Renewable Incentives in Serbia Remain Unchanged in 2019

05/12/2018
News

Karanovic & Partners Ranked as a Top Tier Law Firm by IFLR 1000

07/11/2018
News

Amendments to the Serbian Law on Payment Services

14/09/2018
News

Srbijavode Opens Tender for the Lease of Riverine

30/08/2018
News

NIBE Acquires EMIN’s Operations in Serbia and Turkey

21/08/2018

Related Views

Views

Reshaping the Financial Landscape

05/06/2018
Views

Striving Towards the Black Gold

07/05/2018
Views

The Serbian Law on Foreign Exchange Amended

27/04/2018
Views

The Third Energy Package – What the Macedonian Electricity Market Needs?

18/07/2017
Views

Amendments to the Montenegrin Tax Laws

13/10/2016
Views

Taxing the Business Atmosphere – Tax Administration’s Aggressive Inspections

09/09/2016