Sparkassen International Development Trust (SIDT) has invested €2 million into Lovćen Bank, a publicly listed bank in Montenegro by a primary investment.
Clarence and Partners advised SIDT on this transaction. The Firm assisted in negotiations on the transaction documents and offered deal specific inputs. They also drafted the transaction documents.
The transaction consisted of Clarence Anthony (Founder), Varnika Sharma (Co-founding Partner) and Varun Kumar (Associate Partner).
Pejovic Legal also advised SIDT on this transaction. As the Montenegrin counsel, the Firm worked with Clarence & Partners on this transaction.
Lovćen Bank is one of the top ten largest banks in Montenegro.
The investment by SIDT represents a cross-border institutional endorsement of a publicly listed bank in Montenegro signalling and future access to strategic partnerships/funding in a relatively small and concentrated banking market.
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