Harrisons Solicitors has had a solid year and retains its place in the second tier. The firm has a strong reputation on the market and is known for its ability to attract big-ticket mandates....
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Harrisons Solicitors has had a solid year and retains its place in the second tier. The firm has a strong reputation on the market and is known for its ability to attract big-ticket mandates. In recent times, it was buoyed by its involvement in Fiat's large investment into Serbia, which extends into this year with the development of a supplier park. Nevertheless, commentators have noted that the firm is steadily losing market share and it is directing its attention to Montenegro where it is gaining traction in the market. As one partner states: "Harrisons is stagnating and retracting over the years, but whenever there are huge deals [it] somehow gets it, especially, if the state is involved. But, they're losing the market share in Serbia and at the same time is doing a success story in Montenegro from Belgrade. But the team is really much much smaller than the teams of the other guys."
Mark Harrison is an important figure on the market and is known for his inclination to deal generation. "He's now more of a senior elder statesman you know that finds the deals but he's not doing legal work for decades," one partner says. Goran Martinovic is one practitioner who has been held in high esteem. "Goran Martinovic is a good local lawyer," one partner says, with another adding: "Goran Martinovic is also great so [he is] definitely the driving force."
On the mandate front, the firm continues to render service to some high value transactions. The firm is presently advising on one of the largest transactions ever engaged with in Serbia. To this end, the firm is advising the Government of Serbia on the €1.4 billion sale of the state owned Telekom Srbija. Additionally, the firm has been busy with work for international finance institutions and advised the European Bank for Reconstruction & Development (EBRD) on €60 Million loans to banks to on-lend to private enterprises for the purpose of investments in sustainable energy. Furthermore, the firm is currently advising the International Finance Corporation (IFC) on an investment in UniCredit Bank Serbia. This pertains to an €55 million unsecured financing to be used to on-lend to the agricultural industry and to support the bank's mortgage scheme.
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