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Published on 31 January 2024CMS legal teams in Belgrade, Podgorica and Sarajevo have advised Actis on all Serbian, Montenegrin and Bosnian aspects of the acquisition of a carved-out tower portfolio from Telekom Srbija, one of the leading tele­com­mu­nic­a­tions operators in the CEE region.   The carved-out portfolio comprises approximately 1,800 macro towers, of which approximately 1,000 are located in Serbia, approximately 700 in Bosnia and Herzegovina and approximately 100 in Montenegro. CMS has provided legal advice on the buy-side due diligence, structuring of the carve-outs, negotiation of the transaction documents, transfer of the towers, regulatory matters (merger clearance, telecoms and energy supply regulations), tax matters and financing of the transaction. This landmark transaction marks Actis’ entry into the Western Balkans and reinforces Actis' commitment to the CEE region following previous investments in the energy sector in Romania and Bulgaria in 2022. The CMS team which advised on the transaction was led by partner Marija Tešić (Serbia, Montenegro) and included partners Radivoje Petrikić, Ivan Gazdić and Milica Popović, counsels Marija Marošan and Srđan Janković, senior associates Sandra Miljanić, Ksenija Boreta, Jovana Bingulac, Ksenija Ivetić Marlović, Tamara Zejak and Tamara Samardžija, associates Mila Drljević, Milica Tomić,  Jelena Đorđević, Teodora Vujošević and Jovan Bećirić (all Serbia, Montenegro), partners Indir Osmić and Andrea Zubović-De­vedžić, counsel Sanja Voloder, senior associate Ana Terzić and Zlatan Balta, associates Zlatko Mašović, Stefan Ćosović and Zerina Spahić (all Bosnia and Herzegovina).  

The co-Head of the Real Estate and Construction practice at CMS Belgrade and CMS Podgorica, Marija Marošan, has been promoted to Counsel after more than 12 years of advising international companies on real estate and construction law matters. Marija Marošan started her legal career after obtaining her master’s degree in Land Management from Kunglinga Tekniska Högskolan in Stockholm, in a reputable law office in Belgrade. Since joining the team of CMS in Belgrade in 2013, she has been providing legal support to pre-eminent clients on some of the largest and highly complex and sensitive real estate and energy projects both in Serbia and in Montenegro. Her extensive experience includes advising clients on the property development, sales and acquisitions, leasing, construction (including zoning, permitting, FIDIC and other forms of construction contracts), conversion, etc.  Marija also has an extensive track record with renewable energy and infrastructure projects both in Serbia and in Montenegro and has advised numerous clients regarding real estate and regulatory aspects of the development, operation, and financing of renewable energy and infrastructure facilities, energy efficiency projects, PPPs. Her admirable work and dedication to providing excellent service to clients and her outstanding expertise have led to her becoming the co-Head of the Real Estate and Construction practice at CMS Belgrade and a very prominent member of the Energy and Climate Change team. She shares her expertise and know-how and provides invaluable support to the CMS team in North Macedonia in advising on complex matters of law relevant to various renewable energy projects. We are proud to announce this new step in Marija’s career and wish her continued growth and success within the CMS family!  

Following the successful sale of Delta City shopping mall in Belgrade Serbia, Hystead Limited, a London-based company and investor in the Western Balkans, has signed an agreement to sell Delta City Mall in Podgorica, Montenegro to Israeli company BIG Shopping Centres. Delta City Podgorica is the largest shopping mall in Podgorica and one of the most developed commercial facilities in Montenegro. The transaction value is EUR 95 million. Having advised Hystead Limited in the sale of Delta City Belgrade, CMS Belgrade has been engaged again, together with CMS Podgorica, to provide legal assistance in the divestment of Delta City Podgorica. Full legal support in negotiations and structuring of the transaction and signing of the sales agreement has been provided by the team of CMS experts led by partners Maja Stepanović (Corporate/M&A) and Milica Popović (Banking & Finance). Other team members included partner Ivan Gazdić (Real Estate & Construction) and attorney Tamara Samardžija (Corporate/M&A).

Leading European legal and tax services provider CMS discloses first standard green lease clauses applicable across Europe. The 20 clauses, which are accessible as a CMS e-guide, will simplify the deployment...

Leading European legal and tax services provider CMS today launches the CMS e-guide: Study on the use of Green Lease Clauses in Europe, the first pan-European study into the existing regulations and market...

Stuttgart / Vienna – The market for property transactions recovered over the course of 2010, with both the number of transactions and transaction volumes increasing significantly. Deal terms likewise...