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Hot Practice in Serbia: Milan Petrovic on PR Legal’s Corporate and M&A Practice

Hot Practice in Serbia: Milan Petrovic on PR Legal’s Corporate and M&A Practice

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With the global pandemic, high inflation rates, and the war in Ukraine being the main drivers of work in Serbia, PR Legal’s Corporate and M&A practice has been quite busy, according to PR Legal Partner Milan Petrovic.

“The hottest practice for our office has been Corporate and M&A, in particular, if we look at the FMCG and IT sectors” Petrovic begins. “We’ve been heavily engaged in the last 12 months with working for Coca-Cola on its acquisition of a mineral water plant in central-eastern Serbia, in Neresnica.” According to him, this transaction was very important for the Serbian market as it impacted the FMCG water industry sector significantly, bringing benefits for both consumers and investors. According to Petrovic, the Serbian economy in general and the local community, in particular, are also positively impacted, with the PR Legal Partner reporting dozens of new employees at the Rosa Homolje plant and more than EUR 5 million invested into the production facility.

Furthermore, Petrovic indicates that “corporate and M&A work has been heavily related to the fact that a lot of Ukrainian and Russian businesses are relocating to Serbia, especially in the IT sector, which has impacted real estate as well. I expect this trend not only to hold but to shape the work of the practice in the following 12 months,” he says, also underscoring the effects of the global inflation trend as a major driver of work, due to the ongoing tendency of deposit withdrawals and relocation/investment of funds into different assets.

Another key driver of work, according to Petrovic, is the very positioning of Serbia. “There are commendable economic projections for investments into the Serbian market, with the main rationale being that the country is strategically well-positioned, both within the region as well as in terms of its auspicious bilateral agreements with both Russia and the EU,” he reports. “With the potential to join the EU, Serbia also benefits from legislative harmonization processes, which greatly appease potential investors.”

Looking ahead, Petrovic expects the practice to continue operating favorably. “Serbia has a qualified labor force, especially in the IT sector, that is comparatively cheaper than in most EU countries or the US. Many clients are attracted by this, which leads us to have favorable projections,” he explains. Additionally, he stresses that both the COVID-19 pandemic effects and the war in Ukraine are likely to continue dictating market initiatives. “The consequences of these global events and the ongoing inflation buzz is that people are moving away from banks and are trying to find assets in which to invest their money, especially with asset prices skyrocketing lately – in real estate in particular driven by the rising construction costs. I believe that investors will be more active, thus leading to more legal work,” Petrovic concludes.

PR Legal at a Glance

PR Legal is a Serbian business law firm which renders advice on a full range of corporate matters, from day-to-day legal issues to large M&A and capital-raising transactions. We provide high-quality legal services to companies, entrepreneurs, private entities, and public institutions, in a modern and pro-active manner, based on unique professional experience in high-profile transactions and disputes.

Always aiming for practical feasibility, and when necessary, dig deep in order to secure our clients’ best interests, either before the court, state authorities or counterparties. In any case, commitment is omnipresent in all our work.

We distinguish ourselves from our competitors through understanding of commercial interests considering present legal framework, by providing smart and cost-effective business solutions, and most of all by our passion for doing business.

In PR Legal we believe that exceptional results can be achieved only when talented and reliable people work together in the appropriate environment. With such approach and commitment, our focus is on teamwork and encouraging of relationships based on trust and cooperation. Investment in our people is investment in our future, which allows us to provide comprehensive and top-quality assistance to our clients.

We care about our clients, while the building of strong relationships and a culture of excellent client service remains our main compass.
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