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CMS Advises EBRD on Major Loan to Serbian Machining Manufacturer

International law firm CMS has advised The European Bank for Reconstruction and Development (EBRD) on a EUR 10.8 million loan to Serbian company Stax Technologies (Stax).

Stax is a manufacturer of paper tissue packaging machines based in Konjevići. It intends to use these funds to expand its production facilities, purchase state-of-the-art equipment and implement energy efficiency improvements, including the installation of a new 300KW rooftop solar power system, which will allow the company to produce the energy it needs for its own operation in a sustainable way.

CMS advised EBRD on all English and Serbian law aspects of the transaction and acted as a leading counsel, providing assistance in preparation, negotiation and completion of the relevant finance and security documents and closing the transaction.

CMS Partner Rafal Zakrzewski commented: “We are delighted to have advised our long-standing client EBRD on this loan, which will have such a positive impact for the local Serbian community. The firm’s leading position in the CEE and expertise allows us to handle more and more major and complex transactions for our clients.”

The CMS English law team was led by Rafal Zakrzewski and Orest Matviychuk, with support from Ivan Pshyk and Michal Horelik (Finance).

The CMS Serbian law team was led by Milica Popovic with the support of Jovana Bingulac, Ksenija Boreta (Banking and Finance); and Marija Marošan (Real Estate and Energy).

For further information, please contact:

Darina Gordienko

E: darina.gordienko@cms-cmno.com

T: +38044 391 3377

Notes to editors:

About CMS Cameron McKenna Nabarro Olswang Ukraine

Ukrainian team of CMS Cameron McKenna Nabarro Olswang has been fully operation since the war and provides its services from several locations including in Budapest, Kyiv, and western Ukraine.


Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 80 offices in over 40 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate / M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

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