After obtaining the necessary regulatory approval from the National Bank of Serbia, PPF Group acquired Telenor Banka, the first fully mobile and online bank operating in Serbia.
Having advised PPF Group on the EUR 2.8 billion acquisition of Telenor’s assets in Central and Eastern Europe, the Karanovic & Partners legal team – led by partner ⃰ Miloš Jakovljević and associates ⃰ Sava Drača and Marija Vićić, advised PPF Group in this transaction as well.
PPF Group is the largest private investment group in CEE. It invests into multiple market segments such as banking and financial services, telecommunications, mechanical engineering, biotechnology, insurance, real estate, and agriculture. PPF’s reach spans from Europe to Russia, the USA and across Asia.
Telenor Banka provides its services primarily to Telenor clients; currently, its portfolio includes more than 400,000 clients. At the end of 2018, the bank had assets under management worth EUR 135 million.
*Independent attorney at law in cooperation with Karanović & Partners.