Dunav banka a.d. (BELEX:KMBZ) announced a private placement of shares for gross proceeds of RSD 954,682,000 (€8,000,000) on December 1, 2014. The round will include participation from new investor, Telekom Srbija a.d., which will have a pre emptive right. The investor will hold 80% stake in the company pursuant to the transaction. The transaction is subject to shareholder's approval. The currency conversion was done through www.oanda.com as of December 1, 2014.

On January 5, 2015, Dunav banka a.d. (BELEX:KMBZ) closed the transaction. The company issued 4,831,275 common shares at a price of RSD 320 per share for gross proceeds of RSD 1,546,008,000. The transaction included participation from Telekom Srbija a.d. for 3,326,816 shares for up to RSD 1,064,581,120 to acquire 55.8% stake in the company and existing investor, Kompanija Dunav Osiguranje a.d.o. subscribed to 1,032,540 shares for RSD 330,412,800 to hold 32.8% stake in the company. The capital of the company increased from RSD 552,500,000 to RSD 2,099,000,000 upon closing. The shares issued 73.677942% stake in the company.

BDO Business Advisory d.o.o. team led by Milovan Popovic and including Uros Camilovic, Danijela Krtinic, Sladjana Sreckovic, Zvonimir Petrovic, and Jelena Kostic acted as financial advisor to Telekom Srbija a.d. and provided valuation analysis, due diligence services to the investor. KPMG International acted as accountant to Telekom Srbija a.d. Spasic & Partners acted as legal advisor to Telekom Srbija a.d. Schoenherr Attorneys at Law acted as legal advisor to the company.