The transaction involved two steps: a reorganisation under which the CEE business was split off into an Austrian  special-purpose vehicle, immediately followed by the cross-border merger of that SPV into UniCredit S.p.A. Following the approval of the European Central Bank, Banca d'Italia and the Austrian Financial Market Authority, the transfer was perfected as of October 1, 2016.

The  Karanović & Nikolić team was led by Partner Maja Jovančević Šetka, and consisted of Senior Associates Ivona Vučković and Katarina Gudurić, as well as attorneys working in cooperation with Karanović & Nikolić in Slovenia – Jaka Simončić and Marko Kranjc, and Franka Baica – independent attorney at law – in Croatia.