On May 28, 2015, Commission for Protection of Competition approved concentration created by the change of control over company ”Belgrade Waterfront” from Belgrade.The said company was founded on April 26, 2014, as a single-member company, exclusively owned by the Republic of Serbia. After the completition of the underlying transaction, control over that company was transformed from individual into joint which, in addition to the Republic of Serbia, will be exercised also by strategic partner from United Arab Emirates – company Belgrade Waterfront Capital Investment LLC. After increase in capital base, foreign partner will be included in the structure of total equity shares, by becoming a majority member of company with 68%, but in terms of control, members of the company will jointly and equally participate in making all key decisions within the competence of the Company Assembly and Supervisory Board.
The Commission, in making decision about the permissibility of concentration, had in mind the fact that its implementation will not restrict, distort or prevent competition in the market of the Republic of Serbia, but in assessing its effects observed the wider context of implementation of the entire project, in light of the aim of the Law, and the possible benefits from the standpoint of economic progress and the welfare of sociaty, as well as the benefits of the consumers.