On December 13, 2022, Schoenherr announced that Jade Power's sale of its Romanian renewable energy portfolio to Enery (as reported by CEE Legal Matters on September 9, 2022) had closed.
The New Year's Surprise in Romania: A Buzz Interview with Radu Diaconu of Bancila Diaconu si Asociatii
It is a busy time of the year in Romania, according to Bancila, Diaconu si Asociatii Managing Partner Radu Diaconu, with interesting reports of regulatory updates on the ESG, tax, and companies front.
Novelties Regarding the Commercial Law
Law No. 265/2022 on the trade register and for amending and supplementing other normative acts with impact on the registration in the trade register (“Law No. 265/2022”) was published in the Official Journal of Romania No. 750, Part I, of 26 July 2022. Law No. 265/2022 entered into force on 26 November 2022.
CMP Law Successful for Ave Tebia on Opening Insolvency Proceedings
Coman Mindru Popescu Attorneys at Law has successfully represented construction company Ave Tebia SRL before Constanta County Court in a matter regarding the opening of the general insolvency procedure for the company.
Clifford Chance Advises United Petfood on Acquisition of Two Cargill Facilities in Poland and Hungary
Clifford Chance has advised Waterland Private Equity portfolio company United Petfood on its acquisition of Cargill's production facilities in Krzepice, Poland, and Karcag, Hungary. Lakatos Koves and Partners reportedly advised the buyer as well.
Schoenherr Advises MET Group on Acquisition of 52-Megawatt PV Project in Romania
Schoenherr has advised the MET Group on its full acquisition of a solar photovoltaic project in Southern Romania currently in the late planning stages.
PNSA Advises Electromontaj on Acquisition of Hidroconstructia and Subsidiaries
Popovici Nitu Stoica & Asociatii has advised Electromontaj on the acquisition of Hidroconstructia and its ABC Asigurari Reasigurari, Hidroturism, and Hidroedil subsidiaries.
Dentons Advises MGM on Acquisition of Rekord Group
Dentons has advised Italian footwear manufacturer MGM on its acquisition of the Rekord Group in Romania. Italy's Advant Nctm reportedly advised Clessidra Capital Credit and co-investors SIP, Smart Capital, and Brixia Finanziaria on supporting the acquisition.
Closing: Wirtualna Polska’s Acquisition of Szallas Group Now Closed
On November 30, 2022, the BLS-CEE Law Firm announced that Wirtualna Polska’s acquisition of the Szallas Group from Portfolion Capital Partners and private individuals (reported by CEE Legal Matters on September 16, 2022) had closed.
The Status of CEE Banking & Finance: A CEE Legal Matters Round Table
On November 10, four Banking & Finance experts from Croatia, Hungary, Romania, and Serbia sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss banking consolidation, financing availability, the effects of high interest rates, bank capitalization, green financing, the specter of loan restructuring, and the other challenges the sector is facing.
Tuca Zbarcea & Asociatii and D&B David si Baias Advise on Elit's Acquisition of Goodies Meat Production
Tuca Zbarcea & Asociatii has advised Smithfield Group subsidiary Elit on its acquisition of Goodies Meat Production. PwC Legal Romanian affiliate D&B David si Baias advised the sellers.
Schoenherr and KPMG Legal Advise on CA Immo’s Sale of Romanian Portfolio to Paval Holding
Schoenherr has advised CA Immobilien Anlagen Aktiengesellschaft on the sale of a Bucharest seven-office-building portfolio to Paval Holding. KPMG Legal Toncescu si Asociatii advised Paval Holding.
NNDKP Successful For Enel in Fiscal Dispute
Nestor Nestor Diculescu Kingston Petersen has successfully represented Romanian electricity distributor ENEL E-Distributie Banat in a tax dispute regarding tax depreciation for transferred fixed assets.
Wolf Theiss Advises Fortech Founders on Sale to Global Logic
Wolf Theiss has advised the founders of Fortech on its sale to Global Logic. Tuca Zbarcea & Asociatii reportedly advised Global Logic.
Stratulat Albulescu Advises Reorg on Acquisition of FinDox
Stratulat Albulescu has advised Reorg on its acquisition of FinDox. O'Melveny & Myers reportedly advised FinDox.
Factoring and Liquidity Facilities: Making the Best of Both Worlds
Factoring volumes in Romania have seen a marked increase over the last year, up to EUR 3.68bln in the first half of 2022, according to public sources. While part of this 31.6 % year-on-year surge was driven by inflation rates, local businesses do appear to show a growing appetite for this type of financing product.
A Perfect Pairing: Ruxandra Bologa and Gabriela Cacerea on NNDKP’s Corporate/M&A and Energy and Natural Resources Practices
Providing insights into Nestor Nestor Disculescu Kingston Petersen’s most active practice areas, Partners Ruxandra Bologa and Gabriela Cacerea took a deep dive into the firm’s Corporate/M&A and Energy and Natural Resources practices.
Romania's Shifting Goalposts: A Buzz Interview with Adriana Gaspar of NNDKP
Energy availability prospects, which have unsurprisingly taken center stage and the interest of governments, investors, and organizations across the world, are the strongly dominating priority in Romania, according to NNDKP Senior Partner Adriana Gaspar.