Date: 02/07/2021

Eurobank and Direktna Banka to merge Serbian operations

Živković Samardžić team provided legal advice for the transaction to the banks

A merger between the Serbian operations of Eurobank and Direktna Banka has been announced. Once the transaction is complete, Eurobank will control some 70 percent of the resulting entity, whilst Direktna Banka’s shareholders will own the remaining 30 percent. both parties are planning continued growth, including ambitious expansion targets that will allow the merged bank to finance Serbia’s economy and achieve profitable growth in the coming years.

The transaction is subject to the usual approvals from the relevant regulatory and oversight bodies, and is expected to be finalised in Q4 2021. The Živković Samardžić team provided capable and valuable legal assistance and advice to both banks involved in the transaction.