Popovici Nitu Stoica & Asociatii has advised Electromontaj on the acquisition of Hidroconstructia and its ABC Asigurari Reasigurari, Hidroturism, and Hidroedil subsidiaries.
Electromontaj, part of the H4L group, is a Romanian energy construction company. It specializes in building and maintaining power lines as well as substations for the power supply grid.
Hidroconstructia is a Romanian company specializing in the field of hydropower and hydro-technical constructions. The company has constructed hydropower stations in Romania, Algeria, Germany, and Iran for a total of 6,411 megawatts. According to the company's website, Hidroconstructia entered insolvency proceedings on January 19, 2022.
ABC Asigurari Reasigurari is an insurance company. Hidroturism provides accommodation and related services in the Danube Delta. Hidroedil is an engineering and technical consultancy company.
PNSA’s team included Partners Bogdan Stoica and Mihaela Ion, Managing Associate Ioana Cazacu, and Associates Ioana Lazar and Ioana Popovici.
PNSA did not respond to our inquiry on the matter.
Editor's Note: On January 10, 2024, PNSA announced it had also advised Electromontaj on the regulatory approval proceedings before the Romanian Financial Supervisory Authority for the acquisition of a controlling stake in the ABC Asigurari Reasigurari insurance company. The firm's team included Partner Vlad Neacsu, Managing Associates Ioana Cazacu and Camelia Constantin, and Senior Associate Bianca Tarascu.