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RTPR Allen & Overy and PNSA Advise on Electrica Deal Acquisition from Fondul Proprietatea

RTPR Allen & Overy and PNSA Advise on Electrica Deal Acquisition from Fondul Proprietatea

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RTPR Allen & Overy has advised Societatea Energetica Electrica S.A. on its RON 752,031,841 acquisition of the minority stakes previously held by Fondul Proprietatea in the company’s energy distribution and supply subsidiaries. Popovici, Nitu, Stoica & Asociatii advised the sellers on the deal. 

In specific, according to a Fondul Proprietatea press release, the deal involved: 1) the sale of Electrica Furnizare S.A. to Electrica and Societatea Filiala de Intretinere si Servicii Energetice “Electrica Serv” S.A. for an aggregated selling price of RON 167,079,881; 2) the sale of Societatea de Distribuție a Energiei Electrice Transilvania Nord S.A. to Electrica and Societatea de Distributie a Energiei Electrice Muntenia Nord S.A. for an aggregated selling price of RON 201,702,667; 3) the sale of Societatea de Distribuție a Energiei Electrice Muntenia Nord S.A.  to Electrica and Societatea de Distributie a Energiei Electrice Transilvania Sud S.A. for an aggregated selling price of RON 209,744,928; and 4) the sale of Societatea de Distributie a Energiei Electrice Transilvania Sud S.A. to Electrica and Societatea de Distributie a Energiei Electrice Transilvania Nord S.A. for an aggregated selling price of RON 173,504,365.

The RTPR Allen & Overy team was coordinated by Partner Mihai Ristici and included Counsels Loredana Chitu and Victor Rusu, as well as lawyers Vlad Stamatescu and Vlad Druta.

The PNSA team consisted of Partners Alexandru Ambrozie and Ciprian Dontu, Managing Associate Alina Dascalescu, Senior Associate Dan Petrache, and Associate Teodora Cazan.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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