Dentons has advised two investment funds managed by Triodos Investment Management, as well as Umweltbank Aktiengessellschaft and GLS Gemeinschaftsbank EG, in relation to the acquisition of a majority stake in Opportunity banka a.d. Novi Sad (“OBS”). OBS is a Serbian bank specialized in microfinance, providing micro, rural, agro and SME loans and other financial services to Serbian customers who cannot ordinarily access financial services from traditional banks.
OBS is part of Opportunity International, which is a global non-profit committed to ending extreme poverty and promoting quality education for families in need. Opportunity International sought new investors which shared its mission, vision and motivation for OBS. Since 1971, Opportunity has helped millions of families’ work their way out of poverty by providing financial resources, training, and delivering ongoing support to start small businesses, earn living wages, and feed their families. In 2019, Opportunity International and its partners made more than US$3 billion in loans, reaching more than 7 million loan clients and 12 million savings clients in 27 countries.
Triodos Investment Management is a globally active impact investor with 750+ investments in over 50 countries, and with €4.9 billion in assets under management (as per the end of June 2020). It is a wholly owned subsidiary of Triodos Bank NV, which was founded in 1980 and is a leader in sustainable banking. UmweltBank was founded in 1997 following the idea that a bank can be both sustainable and economically successful. Since 1974, sustainability has been anchored in the core of GLS Bank.
“We are very proud to have had the opportunity to support our clients on their impact investment in Serbia“, said Rob Irving, the co-chair of Dentons’ Europe and Global Private Equity groups. “Serving clients making sustainable investments is a growing focus for Dentons in Central and Eastern Europe and globally.”
Partner Rob Irving led the Dentons team supported by associates Kamran Pirani and Sebastian Ishiguro. Dentons worked alongside Serbian counsel Andric Law Office, led by Luka Andric.
