M&A, Corporate and Commercial

M&A, Corporate and Commercial

BDK Advokati has extensive experience in M&A transactions in Serbia, Montene­gro and Bosnia and Herzegovina. Our strategic orientation is on regional deals and on the complex local-law governed deals even if they are located within the single jurisdiction. Sector-wise, we have advised on deals involving all major industries, such as finan­cial services, ICT, FMCG, energy, mining, tobacco, healthcare and life sciences and transports, but what singles us out is experience in innovative industries. We have industry-focused multidisciplinary teams, which enables us to effectively advise and provide transaction support in the context of highly regulat­ed industries. We have acted on acquisitions involving both listed and privately held targets and have experience in privatizations and private deals. We assist clients in structuring their acquisitions and joint ventures and implementing takeovers, squeeze-outs and compulsory buy-out schemes. Besides acting for buyers, we have also gathered significant transactional experience on the sell-side.

We have the capacity to use artificial intelligence in due diligence, and thus to efficiently and quickly assist clients on deals involving large volumes of documentation.

Our corporate group advises on the most appropriate corporate forms for establishing a presence in local jurisdictions, but also on complex issues such as corporate governance, corporate finance, capital increases, debt-to-equity swaps, capital reductions and liquidations. Our full-service approach allows us to be an effective corporate housekeeper to our clients and advise on commercial contracts and regulatory aspects of their businesses.

“Dragoljub Cibulić is well regarded for his expertise in the real estate and energy sectors in Montenegro. He is experienced in cross-border projects, including energy infrastructure matters.

Founding partner Tijana Kojović remains well respected by peers, who praise her experience in the market. She provides commercial and regulatory advice to clients in the technology and finance sectors. She has additional expertise in Montenegrin matters.

Vladimir Dašić advises international corporations and private equity funds on their M&A transactions in the country. He offers additional experience in privatisation, regulatory and corporate governance issues.”


“Primarily Belgrade-based Dragoljub Cibulić is held in high regard for his strong track record in the real estate and energy arenas. ‘You can trust his advice from the very beginning.’

‘Prominent individual’ Luka Popović is recommended by sources for both his corporate and real estate practices, being singled out for his handling of major domestic and regional M&A transactions. ‘He is experienced and co-operates with foreign firms. We have lots of confidence in him.’”


“Long-standing expertise in advising domestic and international clients on transactional and regulatory issues. Widely respected for its excellence in M&A and financing transactions, having specialist knowledge in a range of sectors including chemicals, infrastructure and technology. Acts on behalf of domestic corporate and industrial clients as well as international investors and private equity funds. Additional experience of acting for pharmaceutical and mining clients on M&A transactions. Also handles joint ventures and corporate governance issues.

Interviewees praise the organisation and responsiveness of the team, adding: ‘You are always in good hands and you always know what will be the next step.’”


“Leading regional firm that operates primarily out of Belgrade with support from the Podgorica office. Boasts a strong corporate and commercial practice, excelling in M&A transactions, privatisations and multi-jurisdictional restructuring. Additionally well versed across the spectrum of banking and finance mandates, including insurance for large projects. Advises regional companies from an array of sectors, with a notable focus on telecommunications, energy and natural resources, and matters involving Montenegrin governmental entities.

‘They really are on top of their game. It is a firm that gives you confidence.’

‘The firm knows what the client wants and gives us useful and refined suggestions. It’s excellent. It’s quick and high-quality feedback.’”


“With offices in Serbia, Montenegro and Bosnia, BDK Advokati’s regional M&A practice is highly regarded for its advice on multi-jurisdictional deals.”

LEGAL 500 2019 (SERBIA)

“BDK Advokati is highly rated for its advice on M&A transactions, real estate and construction, and energy matters.”


“BDK Advokati is one of the stronger firms in the region and ranks highly across all practice areas.

‘Provides excellent, careful legal advice with an unusually broad range of competence on time and at an excellent value.’ – M&A, project development, project finance

‘The firm’s strengths include the service being dynamic, responsive and fast.’ – Regulatory”


“The Montenegro office of Serbian firm BDK has a notable presence in the jurisdiction and is known to work on government mandates.

“‘Excellent understanding of clients’ needs and in-depth knowledge of the local regulations/laws.’ – M&A, project development”

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