July 2025 – We are proud to support MVM, Hungary’s state-owned energy company, in expanding its presence in Serbia. Our Budapest and Belgrade offices jointly advised on the signing of the transaction documents for the acquisition of majority shares in Energotehnika Južna Bačka and Elektromontaža Kraljevo - raising MVM’s share from 33.4% to 60%.
Energotehnika Južna Bačka and Elektromontaža Kraljevo are among Serbia’s leading energy infrastructure companies, with decades of experience and strong market reputations. This strategic move reflects MVM’s long-term commitment to the Western Balkans and strengthens its role in the region’s energy infrastructure. Serbia’s geographic position and favorable market conditions make it a natural hub for further growth.
The deal follows MVM’s initial investment in 2022 and builds on the strong performance of both Serbian companies. The transaction is expected to close in Q3 2025, pending regulatory approval.
The Kinstellar team is led by Sara Ostojić, Senior Associate (Belgrade), Áron Barta, Managing Associate, and Katalin Nógrád, Senior Associate (Budapest), with key support from Belgrade office partners Miloš Velimirović and Milan Samardžić.