Law no. 24/2017 regarding the financial instruments issuers and stock market operations published in the Official Gazette of Romania, Part I, no. 213 of March 29, 2017, is based on legal provisions that initially existed in Law 297/2004 on capital market, as further amended, provisions taken further and/or amended by this new law so as to reflect the dynamics of the capital market and of the European legislation, with an aim to help investors stay more informed, to increase transparency, to improve the public tender offers’ regime and the financial instruments’ issuance, and to harmonize the sanctions for market abuse.
Romanian law firm Tuca Zbarcea & Asociatii has advised Czech pharmacy chain Dr. Max, owned by Penta Investments Group, on its acquisition of the Fastpharm SRL, Iezer Farm SRL, Panpharma Med SRL, and York Farm SRL chains, which will be rebranded and run under the name “Dr. Max”. Wolf Theiss advised the sellers, a Romanian family.
The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.
On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.
November 7th 2017
5 October 2017 - Belgrade, Serbia, Metropole Palace Hotel
Gelu Maravela, the Co-Managing Partner of Maravela⎪Asociatii, waives away the potential impact of politics on investment in the country. “There’s no election scheduled for this year anyway,” he says, “so for the next six years we’re 'at bay' on major changes.” In any event, “in terms of politics, we don’t care about it. They have their own agenda. Obviously they have some influence on it, but they can’t really contribute to our business. The private sector moves by itself.”
Tuca Zbarcea & Asociatii has advised Accel on its investment, made in participation with Earlybird Venture Capital, Credo Ventures, and Seedcamp, on USD 30 million in Series A investment into UiPath, a Robotic Process Automation (RPA) software company. The funding will be used to accelerate UiPath's global expansion and product development.
PeliFilip has assisted Digi Communications N.V., the majority shareholder of RCS & RDS S.A., regarding the initial public offering of shares conducted for listing RCS & RDS on the Bucharest Stock Exchange. Freshfields Bruckhaus Deringer advised Digi on U.S., UK, and Dutch elements of the issuance. Clifford Chance Badea advised the banks on Romanian law, while Cleary Gottlieb Steen & Hamilton and Houthoff Buruma offered legal assistance on U.S., UK, and Dutch law.