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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

Romania
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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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Maravela & Asociații is an internationally recommended and repeatedly awarded Romanian law firm providing integrated legal, tax advisory and insolvency services in all areas of interest for businesses and public administration. 

Maravela & Asociații covers all major Romanian regions as well as the Republic of Moldavia, either directly or through carefully selected and closely coordinated correspondent offices. In addition, the firm has the infrastructure required to coordinate advice in multiple countries through highly reputed international networks of specialists ensuring high end services. 

Firm’s clients (multinational corporations, sound Romanian companies, private investors, public authorities and State companies) recommend Maravela & Asociații as “A reliable team providing a high standard of work.” (quote by Chambers and Partners), having consistently endorsed the outstanding quality of services provided, flexible approach, responsiveness as well as the friendly working climate. 

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