A new Law on supplementing and amending of (i) Law no. 350/2001 on spatial planning and urbanism and (ii) Law no. 50/1991 on the authorization of the execution of construction works has been adopted by the Romanian Parliament on 11 May 2023 (law draft PL-x nr. 110/2023). To enter into force, the law is yet to be promulgated by the President and subsequently published in the Official Gazette.
Stratulat Albulescu Advises on Encora Acquisition of Softelligence
Stratulat Albulescu, working with Taylor Wessing, has advised US-based product engineering provider Encora on its acquisition of Romanian software engineering services provider Softelligence.
SSK&W, Ventures-n-Law, and Stratulat Albulescu Advise on Milluu Investment Round
SSK&W and Stratulat Albulescu have advised venture capital fund CofounderZone and business angels on their investment in Romanian property technology company Milluu. Ventures-n-Law advised Milluu.
Five Years of GDPR: An Overview of GDPR Implementation in Romania
May 2023 – As May 2023 marks the fifth anniversary of the implementation of GDPR, we have prepared an overview of the five years of regulatory struggle in Romania since the regulation came into effect. By examining the value of the sanctions and the types of violations, we can identify some regulatory trends of the local practice.
Schoenherr and Freshfields Advise on EUR 1.4 Billion Sale of Cargo-Partner Subsidiaries to Nippon Express
Schoenherr, working with Luther and Hogan Lovells, has advised the Cargo-Partner Group Holding on its EUR 1.4 billion sale of Cargo-Partner GmbH and 60 other subsidiaries to Nippon Express Holdings. Freshfields Bruckhaus Deringer advised the buyer.
RTPR Advises on Acquisition of Majority Stake in Elefant Online
Radu Taracila Padurari Retevoescu has advised Evolution Prest Systems – owner of the evomag.ro e-commerce website – on its acquisition of a majority stake in Elefant Online. The same firm advised Elefant minority shareholder Catalyst Romania on the sale of its stake to Evomag.
Dentons Advises Raiffeisen Bank International on Financing for Photon Energy Group Romanian PV Portfolio
Dentons has advised arranger, original lender, agent, and security agent Raiffeisen Bank International on a EUR 21.9 million term loan facility for the development of a 31.5-megawatt portfolio of eight photovoltaic power plants in Romania to companies owned and operated by Photon Energy NV.
Closing: Tereos Sale of Romanian Sugar Factory Now Closed
On May 10, 2023, Leroy si Asociatii announced that Tereos’ sale of its sugar factory in Ludus, Romania, to private investors Mihaela Neagu and Mihail-Daniel Matache (reported by CEE Legal Matters on February 14, 2023) had closed.
Vasil Kisil & Partners and Stratulat Albulescu Advise Avrora Group on Entering Romanian Market
Vasil Kisil & Partners and Stratulat Albulescu have advised the Avrora Group on entering the Romanian market.
Ion Alexandru Makes Partner at Gavrila & Asociatii in Bucharest
Gavrila & Asociatii Lawyer Ion Alexandru has been promoted to Partner position within the firm.
Oana Dutu-Buzura Becomes Tenth Partner as DLA Piper Celebrates 15 Years in Romania
Former Counsel Oana Dutu-Buzura has been promoted to Partner at DLA Piper in Romania as of May 1, 2023.
Clifford Chance Advises ING on Two Covered Export Credit Facility Agreements with Digi Communications
Clifford Chance, working with Hannes Snellman, has advised ING on a Finnvera-covered export credit facility agreement and an EKN-covered export credit facility agreement with Digi Communications.
Stratulat Albulescu Advises Bucharest Stock Exchange on America House Office Lease
Stratulat Albulescu has advised the Bucharest Stock Exchange on leasing 2,235 square meters of office space in the America House building – for relocation purposes – from Complexul Multifunctional Victoria.
Closing: Sika’s Acquisition of MBCC Group from Lone Star Funds Now Closed
Baker McKenzie and Musat & Asociatii have announced that Sika’s EUR 5.3 billion acquisition of Master Builder Construction Chemicals from Lone Star Funds (reported by CEE Legal Matters on February 23, 2022) had closed.
Dorda and NNDKP Advise Cancom on Acquisition of K-Businesscom Group
Dorda and Nestor Nestor Diculescu Kingston Petersen, working with Heuking Kuhn Luer Wojtek’s Munich office, have advised Cancom on the acquisition of K-Businesscom and all its subsidiaries from shareholders Aluk Privatstiftung, Invest Unternehmensbeteiligungs Aktiengesellschaft, Raiffeisen, Franz Semmernegg, and Jochen Borenich. SCWP Schindhelm reportedly advised the sellers.
Dentons Advises Raiffeisen Bank, BCR, and BRD on Bucharest's New RON 555 Million Bond Issuance
Dentons has advised a consortium of banks including Raiffeisen Bank Romania, BCR, and BRD on a new RON 555 million bond issuance by the City of Bucharest.
Picking Up Speed in Romania: A Buzz Interview with Daniel Alexie of MPR Partners
Romania's markets faced a bit of a slow start to the year but have since overcome it and are back on the right track, according to MPR Partners Partner Daniel Alexie.
Alina Antonie Returns to Private Practice as Counsel at DLA Piper
Former Huawei Legal Director Alina Antonie has joined the Bucharest office of DLA Piper as a Counsel.