Kinstellar’s team in Serbia, together with global law firm Paul Hastings, has successfully advised Deutsche Bank, Alpha Bank, UniCredit, and UniCredit Bank Serbia on a EUR 205 million financing for global investment firm Actis in relation to their acquisition of a carved-out tower portfolio from Telekom Srbija, a leading telecommunications operator in the Central and Eastern European (“CEE”) region.

The carved-out portfolio is comprised of approximately 1,800 macro towers across Serbia, Bosnia & Hercegovina, and Montenegro.  

Kinstellar’s team, led by Petar Kojdić (Partner) and Mina Srećković (Managing Associate), played a pivotal role advising on the financing aspects of this transaction. Our services included structuring financial arrangements and negotiating financing documents.

The communication towers market in the CEE and Western Balkans regions is expected to experience substantial growth in the coming years, driven by escalating consumer demand for mobile data, the introduction of advanced technologies like 5G and 6G, and evolving mobile capacity and coverage needs.

Telekom Srbija, the leading telecommunications operator in Serbia, is a key player shaping the communication landscape in the CEE region. Decisions such as the recent sale of a carved-out tower portfolio showcase Telekom Srbija's adaptability to global trends and its focus on optimising its assets.

Petar Kojdić is a Partner in the Belgrade office and the head of the firm’s Banking & Finance service line in Serbia.

Petar advises lenders and borrowers of all types on a wide range of cross-border and local finance transactions, including acquisition and leveraged finance, project finance, debt restructurings and re-financings as well as loan and portfolio sales transactions.

Petar also focuses on legal and regulatory advice related to structured finance, netting, derivatives, financial collateral, securitisation as well as repo and capital markets transactions. His work involves negotiating finance and hedging documents with various counterparties (banks and other financial institutions, funds, corporates and sovereign entities) and issuing netting, collateral and other legal opinions. Petar is an author of ISDA's netting opinion for Serbia.

Mina Srećković is a Managing Associate in the Belgrade office.

With over ten years of experience, Mina specialises in corporate and banking & finance, with special knowledge of PPPs, concessions, public debt financing, foreign exchange regulations and cross-border transactions, project finance, non-performing loans, equity and debt securities transactions, as well as regulatory compliance, corporate governance and licensing of institutions operating in the banking and financial sector in Serbia.

Petar Kojdić Partner

+38 11 3210 202


Mina Srećković Managing Associate

+381 69 1811 019



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