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Vulic Law Advises International Finance Corporation on EUR 160 Million Financing for Drenik ND

Vulic Law Advises International Finance Corporation on EUR 160 Million Financing for Drenik ND

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Vulic Law, working with Gide, has advised the International Finance Corporation on its EUR 160 million financing for Serbia's Drenik ND. Wolf Theiss's Hungarian office reportedly advised the IFC as well.

According to Vulic Law, this is the "largest green financing transaction of the IFC for a Serbian company to date. In this cross-border transaction, the IFC extended a substantial loan to Drenik ND, a major tissue paper producer and distributor in the Western Balkans with production plants in Serbia and Hungary."

Furthermore, Vulic Law reports that the financing serves "multiple purposes aimed at bolstering Drenik's operations and sustainability efforts. It supports the development of the largest captive biomass power plant in Serbia. This initiative not only ensures a stable operation and energy supply for Drenik's manufacturing facility, but also contributes to a substantial reduction in carbon dioxide emissions, aligning with global efforts to combat climate change."

The Vulic Law team included Managing Partner Milos Vulic.

Editor's Note: After this article was published, Wolf Theiss confirmed it had advised the IFC on Hungarian aspects of the deal. The firm's team included Counsel Melinda Pelikan and Associates Laszlo Lovas and Viktoria Horvath.

Serbia Knowledge Partner

SOG in cooperation with Kinstellar is a full-service business law firm in Serbia that provides foreign and domestic clients with premium-quality legal advice and assistance across a wide range of key areas of corporate law. The firm was founded in 2015 by a group of seasoned, internationally-trained lawyers. SOG has developed a distinctively dynamic culture, bringing together top talent, fostering entrepreneurship, and maintaining exceptional relationships with its clients.

SOG has achieved consistent growth in the volume of its business, accompanied by an exponential increase in the number of hired associate lawyers and the firm’s network of business contacts. SOG has a robust client base of multinationals, investment and private equity firms, and financial institutions. Clients praise SOG for being commercially minded, very responsive and knowledgeable.

Establishing permanent cooperation with Kinstellar is part of realising SOG's long-term development strategy to be the leading provider of legal services in the Western Balkans market.

Firm's website: https://www.kinstellar.com/

 

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