26 Nov 2025

Karanovic & Partners and Kinstellar Advise on MidEuropa Exit from Imlek to Local Investor Management Consortium

"Karanovic & Partners, with White & Case, Sijercic & Partners and Ilej & Partners, advised seller MidEuropa on the sale of regional dairy producer Imlek. Kinstellar advised the buying consortium led by the family holding of Andrej Jovanovic together with Imlek CEO Bojan Radun. The deal, subject to regulatory approval, moves Imlek from private equity to a local investor–management partnership to support regional growth."

Karanovic & Partners, together with White & Case, Sijercic & Partners and Ilej & Partners, advised seller MidEuropa on the sale of regional dairy producer Imlek, while Kinstellar advised the buying consortium led by the family holding of entrepreneur and investor Andrej Jovanovic together with Imlek’s current CEO Bojan Radun. The transaction, which remains subject to regulatory approval, provides for the sale of Imlek by private equity owner MidEuropa to a consortium comprising the family holding of Andrej Jovanovic as lead investor and Imlek’s CEO Bojan Radun. The deal envisages a transition from private equity ownership to a partnership structure between a local investor and existing management, with the stated aim of supporting Imlek’s continued growth across South‑Eastern Europe. Karanovic & Partners represented MidEuropa with a team composed by: Senior Partners Milos Jakovljevic and Rastko Petakovic; Partners Bojana Miljanovic Hussey, Katarina Guduric, Veton Qoku and Marko Culafic; Senior Associate Marija Vicic Simic; and Associates Aleksandra Cvorovic and Teodora Vasin. Ilej & Partners represented MidEuropa with a team composed by: Senior Partner Goran Ilej. Kinstellar represented the buyers (the consortium led by the family holding of Andrej Jovanovic together with Imlek CEO Bojan Radun) with a team composed by: Bratislava‑based Partner Hugh Owen; Vienna‑based Associate James Merryweather; Prague‑based Partner Ludek Chvosta and Counsel Filip Murar; Belgrade‑based Partner Petar Kojdic; Special Counsel Olga Sipka; Managing Associate Mina Sreckovic; and Junior Associate Dusan Djuric.
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