Bojović & Partners advised Nestle on the sale of its US confectionary business to Ferrero

Bojović & Partners provided local merger clearance assistance to Nestle with regards to the sale of its US confectionary business to Ferrero.

As Nestle announced, they agreed to sell its US confectionary business to Ferrero for USD 2.8 billion in cash. The transaction is expected to close around the end of the first half of 2018 following the completion of customary approvals and closing conditions.

The transaction covers the US-focused confectionery brands only and does not include Nestlé’s iconic Toll House baking products, a strategic growth brand which the company will continue to develop. Nestlé remains fully committed to growing its leading international confectionery activities around the world, particularly its global brand KitKat.

The official announcement of Nestle can be found here.

Vuk Drašković at the 4th IBA Global Entrepreneurship Conference

Partner Vuk Drašković attended the 4th IBA Entrepreneurship Conference: Disruption Meets Tradition, held in Munich 14-15 May 2018. A conference presented by the IBA Closely Held and Growing Business Enterprise Committee and the IBA Corporate and M&A Law Committee.

This year’s Global Entrepreneurship Conference further developed the disruptive innovation theme of the 2017 Paris Conference. This year’s conference looked into how traditional but innovative business and the legal profession can turn threat of disruption into an opportunity and win.

More about this conference can be found here.

The Latest Legal Updates

On 19 April 2018, the National Assembly of the Republic of Serbia adopted amendments of several financial laws:

Law on Foreign Exchange Transactions, Law on Tax Procedure and Tax Administration, Law on Factoring, Law on Audit and Law on Excise Tax.

More details can be found here.

The National Assembly of the Republic of Serbia recently adopted the new Law on Foreigners which regulates thoroughly and in detail the conditions for entry, movement, residence and return of foreigners, as well as the competences of the relevant state authorities. The main reasons for adoption of this piece of legislation are specifying certain provisions and regulating certain areas which were unregulated, all in order to implement the regulations more effectively in practice. 

More details can be found here.