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Jones Day, Schoenherr, and CMS Advise on Sale of Majority Stake in Societe Generale Montenegro to OTP Bank

Jones Day, Schoenherr, and CMS Advise on Sale of Majority Stake in Societe Generale Montenegro to OTP Bank

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Jones Day has advised Societe Generale in connection with the sale of its majority stake in the share capital of Societe Generale Montenegro, a company listed on the Montenegrin Stock Exchange, to OTP Bank Nyrt. Schoenherr advised Societe Generale on matters of Montenegrin law, while CMS advised OTP.

The closing of this transaction is expected to take place in the coming months, subject to the granting of clearances from the relevant regulators (including the banking, antitrust, and market authorities), and the relevant third party consents.

According to Jones Day, "Societe Generale Montenegro will be part of the cooperation agreement signed between Societe Generale and OTP Bank Nyrt. that encompasses the provision of mutual services in various fields (including, but not limited to investment banking, capital markets, financing cash, and liquidity management). The cooperation agreement includes Hungary and will soon be extended to Croatia and Bulgaria. Albania, Moldova and Serbia will join once the transactions will have closed."

The Jones Day team was led by Partner Alexandre de Verdun and included Partners Florent Bouyer, Eric Barbier de La Serre, Philippe Goutay, Olivier Haas, and Emmanuel de La Rochethulon, Counsel Eileen Lagathu, and Associates Edouard Fortunet, Delphine Sauvebois-Brunel, Jonas Van den Bossche, Adrien Starck, Gillan Saleh, Olga Goncharska, Pierre Larcher, and Yann Davie.

Schoenherr's Belgrade-based team was led by Partner Matija Vojnovic, and included Partners Vojimir Kurtic and Srdjana Petronijevic, Attorneys at law Dusan Obradovic, Bojan Rajic, Jovan Barovic, and Marija Drazic, and Associates Luka Veljovic, Mina Mihaljcic, Tamara Cakarevic, and Magdalena Petreska.

CMS's team advising OTP was led by Partner Eva Talmacsi, supported in Budapest by Partner Dora Petranyi, Senior Associates Dora Czegledi, Zoltan Poronyi, Szabolcs Szendro, and Peter Toth, Associate Adam Takacs, and trainee lawyer Dora Altziebler; in Montenegro by Partners Marija Tesic, Milica Popovic, Radovanovic Rasko, Attorneys at Law Anja Tasic, Ksenija Ivetic Marlovic, Marija Marosan, Ksenija Boreta, Nebojsa Pejin, Nenad Kovacevic, and Tamara Samardzija, and Associate Mina Radonjic; and in Kyiv by Partner Olexander Martinenko, Senior Associate Nataliya Nakonechna and Associate Mykola Heletiy.

Editor's Note: CEE Legal Matters learned that the deal closed as planned in July, 2019, following clearance from the necessary competition authorities. 

The article was subsequently amended to revise Schoenherr's team.

Schoenherr at a Glance

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu