PwC Legal Romanian affiliate D&B David si Baias has advised Complexul Energetic Oltenia on selecting the investor-partners for its 1.2-gigawatt decarbonization strategy. Nestor Nestor Diculescu Kingston Petersen reportedly advised OMV Petrom on the partnership for four PV projects. Deloitte Legal affiliate Reff & Associates reportedly advised Tinmar Energy on the partnership for a new gas-fired power plant and four PV parks.

CMS has advised mandated lead arrangers Banca Comerciala Romana and Erste Group Bank AG on their EUR 100 million revolving credit facility for Romania's Cerealcom.

Kinstellar, working with Watson Farley & Williams, has advised South Korea's Yanolja Cloud on its acquisition of Go Global Travel from the AMI Opportunities Fund.

Jones Day and Musat & Asociatii have advised the Geely Holding Group and Geely Automobile Holdings on their binding 50/50 joint venture agreement with the Renault Group to launch a new powertrain technology company. Freshfields Bruckhaus Deringer advised Renault on the JV and the carve-out of its internal combustion and hybrid engines business.

Tuca Zbarcea & Asociatii has advised arranger and financier Banca Transilvania and financier OTP Bank Romania on credit facilities worth RON 30.5 million and EUR 26.7 million for the Holde Agri Invest group. Filip & Company advised Holde Agri Invest.

Zamfirescu Racoti Vasile & Partners has advised Transport Trade Services on the EUR 21.8 million acquisition of a 99.9% stake in Constanta port operator Decirom.

Microsoft has appointed Romanian lawyer Gabriela Popescu to Corporate, External and Legal Affairs Head, Central Europe.

Filip & Company has advised Banca Transilvania on its second bond issue under a program launched in April, which attracted EUR 200 million from the international markets. 

As reported by CEE Legal Matters on July 11, 2023, Dentons advised Hidroelectrica on the issuance and listing on the Bucharest Stock Exchange. CEELM reached out to Dentons Partner and Head of the Capital Markets group in Bucharest Loredana Chitu to learn more about the matter. 

Schoenherr, working alongside Jones Day, has advised GfK SE on the EUR 315 million sale of its European Consumer Panel business to YouGov. DLA Piper advised YouGov.

RTPR has successfully represented the interests of Sumiriko AVS Romania before the High Court of Romania.

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Schoenherr has advised SpeedValue on its acquisition of Code Agile, operating under the Codegile brand.

On 28 June 2023, the European Commission published the proposals for the legislative package on payment services (“Revised Payments Legislative Package”) that will replace the Directive (EU) 2015/2366 on payment services in the internal market (“PSD 2”) and Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“EMD”) and merge the legal frameworks applicable to payments and electronic money services.

Schoenherr has advised AkzoNobel on the sale of its extruded polystyrene insulation material production activities in Romania to HIRSCH Porozell.

Popovici, Nitu, Stoica & Asociatii has advised Banque Banorient France Romania Branch on a EUR 22 million financing granted to an undisclosed real estate developer.

Bondoc si Asociatii has advised RetuRO Sistem Garantie Returnare on a RON 426 million (approximately EUR 85.7 million) green financing from ING Bank N.V. Amsterdam – Bucharest Branch.

There is still room for optimism in Romania, as the economy is seeing continued investments across a number of sectors, with the energy transition and renewables, automotive, defense, and infrastructure projects driving growth, according to Kinstellar Partner Iustinian Captariu.