© bdk advokati/attorneys at law 2015 see private equity and m&a forum vladimir dašić, senior...
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© BDK Advokati/Attorneys at Law 2015
SEE PRIVATE EQUITY AND M&A FORUM
Vladimir Dašić, Senior Partner
BDK Advokati/Attorneys at Law
24 September 2015
© BDK Advokati/Attorneys at Law 2015
TMT
Privatization of Telecom Serbia (pending) with several PE and Strategic investors in the Phase 2;KKR is increasing its market share on its traditional markets (e.g. cable distribution and Internet access), but also on other markets (cloud/hosting); Indications that Orion Telekom will enter into the sale process; no major activity identified;Targo Telekom acquired by an affiliate of its main creditor; subsequent insolvency was opened; Digitalization has freed the radio-frequency ranges on 800 MHz for which a public tender has just been launched;Liberalization of Serbian telecoms leads to increase of providers of not only Internet access and various data transfer services, but also of voice services: the number of providers of landline service has increased to 19, legal framework enables operation of MVNOs on the basis of notification to the regulator; Many start-ups and small/mid-size IT firms are looking to find investors; TTtech invested in RT-RK, a major R&D firm in Serbia;Direct Media acquired 10% in Pink TV and there are indications that a PE is looking to acquire up to 40 % in Pink TV;
Energy
Several wind projects shovel-ready;
New PPA still missing as well as ministerial decree that would regulate the incentives regime in details;
Fintel in negotiations to sell 128 MW Kosava wind farm project to CEE Equity and Enlight Energy;
Restructuring of EPS is underway;
EMS (Serbian TSO) and EPEXSPOT are creating the first power exchange in Serbia; should be operational by the end of the year;
Serbia might join Energy Charter Treaty soon (Serbia is the only European country not part of the Treaty) – additional protection for investors;
First EfW project (Vinča) underway;
In the gas sector, sale of GGE (Slovakia) brings a PE Infracapital to the Serbian market;
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Healthcare Medigroup (Blue Sea Cap) is still the major private healthcare platform with an appetite to grow;
Belmedic is the second largest but with good position on the market;
Several Turkish Healthcare Groups are looking into the Serbian market;
Serbian Competition Commission is looking at the private healthcare market at the moment as they are becoming aware of it specific market position/no formal investigations at the moment;
(Im)possible integration of other small healthcare practices in order to create an alternative to leading Medigroup and Belmedic;
PPP opportunities (cardio, etc);
Agriculture
Still predominantly in the focus of major Serbian FMCG groups;
Al Dahra acquired a majority stake in Rudnap Agrar, a subsidiary of the Rudnap Group, with the purpose of farming and distributing various crops;
PKB the major agricultural company in Serbia to be privatized;
Many start-ups by various entrepreneurs in grape yards, wine making business; export of berry fruits; hazelnuts, etc;
PEs are not looking into this market? Why? Any different examples in the region?
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QUESTIONS?
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