Date: 26/02/2020

Živković Samardžić advises B92 on change of legal entity

Živković Samardžić Advises B92 on the Transformation of a Joint Stock Company into a Limited Liability Company.

Živković Samardžić Law Office has advised Serbia’s national commercial broadcaster B92, a subsidiary of Kopernikus Corporation, on the transformation of a joint stock company into a limited liability company. The complex legal framework governing joint stock companies and the lack of local practice made this transformation a challenge.

B92 was established in 1989 as a radio station broadcasting to Belgrade audiences. It has since grown into a company encompassing a national radio and television network and websites. B92 and its journalists have won numerous prestigious international awards for journalistic courage and the advocacy of human rights.

The transformation marks the completion of a takeover process, with Astonko as the only remaining shareholder, introduces a simpler governance system without a Management Board. The simplified governance will allow more efficient management and decision-making within B92, thus enabling it to respond promptly to challenges and changes in the harsh business environment.

The Živković Samardžić team that has advised B92 on this transformation was led by Igor Živkovski, Corporate and M&A Partner.