CMS advises EBRD on major loan to Serbian machining manufacturer

International law firm CMS has advised The European Bank for Reconstruction and Development (EBRD) on a EUR 10.8 million loan to Serbian company Stax Technologies (Stax).

Stax is a manufacturer of paper tissue packaging machines based in Konjevići. It intends to use these funds to expand its production facilities, purchase state-of-the-art equipment and implement energy efficiency improvements, including the installation of a new 300KW rooftop solar power system, which will allow the company to produce the energy it needs for its own operation in a sustainable way. 

CMS advised EBRD on all English and Serbian law aspects of the transaction and acted as a leading counsel, providing assistance in preparation, negotiation and completion of the relevant finance and security documents and closing the transaction.

CMS Partner Rafal Zakrzewski commented: “We are delighted to have advised our long-standing client EBRD on this loan, which will have such a positive impact for the local Serbian community. The firm’s leading position in the CEE and expertise allows us to handle more and more major and complex transactions for our clients.”

The CMS English law team was led by Rafal Zakrzewski and Orest Matviychuk, with support from Ivan Pshyk and Michal Horelik (Finance).

The CMS Serbian law team was led by Milica Popovic with the support of Jovana Bingulac, Ksenija Boreta (Banking and Finance); and Marija Marošan (Real Estate and Energy).