CMS Belgrade supports OTP Bank in closing the deal to buy Société Générale’s subsidiary in Serbia
CMS Belgrade has assisted OTP Bank Group in the acquisition of Société Générale Bank Serbia, Serbia’s fourth biggest bank in assets, third in the volume of lending and fourth in total deposits, from Franceʼs Société Générale Group, and in the successful closing of the deal after receiving regulatory and merger clearances from the relevant authorities. The transaction also included the acquisition of Société Générale’s insurance company and leasing company that are active in Serbia. This is one of the biggest M&A deals in the banking and finance sector in Serbia.
This transaction is part of OTP’s strategic expansion in Southeast Europe (takeovers in Montenegro, Serbia, Bulgaria, Albania, Croatia, Moldova and Slovenia in the past few years) with a collective transaction value exceeding EUR 1 billion.
The takeover in Serbia was agreed in December 2018 and closed after nine months. This acquisition has made OTP Bank the second largest bank in Serbia.
CMS has provided full-scope legal support in negotiating, drafting and closing the transaction and is advising on all post-closing activities.
The CMS team supporting the Serbian transaction is led by Radivoje Petrikić and includes Milica Popović, Maja Stepanović, Marija Tešić, Raško Radovanović, Ksenija Boreta, Anja Tasić, Jovana Bingulac.