Ellis Enterprises, the Serbian subsidiary of lubricant producer Valvoline (NYSE: VVV), closed on Monday 1 July 2019 the acquisition of the core manufacturing assets of Serbian lubricant producer FAM, Kruševac for EUR 9.5 million. Closing occurred upon approval of the Serbian Competition Commission and the approval of the transaction terms by six banks which are major creditors of FAM.
Valvoline will initially employ 115 employees of FAM and will invest more than EUR 5.7 million in the modernisation of the plant.
BDK Advokati team was led by senior partner Vladimir Dašić, assisted by associates Sara Necić, Đorđe Zejak and other team members.
