On January 22, 2024, Vernon David announced that Victoriabank’s acquisition of the BCR Chisinau subsidiary (reported by CEE Legal Matters on April 7, 2023) had closed.

Filip & Company has advised Fondul Proprietatea on the sale of its minority shareholding in Engie Romania in a transaction exceeding EUR 86 million. Bondoc si Asociatii reportedly advised Engie.

It was another strong year for the leading law firms in Central and Eastern Europe, which, combined, worked on over a thousand deals and other client matters across the region reported on by CEE Legal Matters this year. According to the Activity Rankings function of the CEELMDirect website, Clifford Chance, which worked on an impressive 95 CEELM-reported CEE client matters in 2023, led the international firms in the region, with Schoenherr, which worked on 90, close behind. Dentons (82), CMS (71), Wolf Theiss (65), Cobalt (66), Kinstellar (50), White & Case (45), and Allen & Overy (42) took notable places on the leaderboard as well.

Filip & Company has advised BT Capital Partners, Alpha Bank, and Raiffeisen Bank on Cluj County’s EUR 75.68 million bond issuance.

Filip & Company has advised Digi Spain Telecom and RCS & RDS on the acquisition of a package of spectrum licenses for the private use of the radioelectric public domain related to certain sets of blocks of frequencies in the 1,800 MHz, 2,100 MHz, and 3,500 MHz bands from Xfera Moviles, part of MasMovil Group in Spain.

BPV Grigorescu Stefanica has advised Infineon Technologies on its EUR 57 million lease agreement with One United Properties in Romania. Filip & Company reportedly advised One United Properties.

Filip & Company, working with Freshfields Bruckhaus Deringer, has advised Banca Transilvania on its new EUR 1.5 billion bond program which raised EUR 500 million via a sustainable bond issuance. The Bucharest and London offices of Clifford Chance advised the dealers.

Filip & Company has advised Romanian book-borrowing company Bookster on the setup and launch of its Booksprint self-publishing platform aimed at aspiring authors.

Recently, there has been a strong trend in several EU Member States to correct economy imbalances through price and tariff capping measures. This is also the case in Romania, where certain industries or market segments are subject to capping and control measures. (e.g., MTPL insurance, certain segments of the energy market, staple foods, etc.).

In a significant development, the European Parliament and Council have recently reached a preliminary agreement on a set of new regulations designed to combat misleading advertising and provide consumers with more accurate product information. This agreement aims to strengthen consumer rights and tackle deceptive marketing practices, including greenwashing and planned uselessness of products.

Filip & Company has advised Romanian software developer Arobs Transilvania Software on the transfer of its shares to the Main Market of the Bucharest Stock Exchange.

Did you know that 10 of the 18 law firms in Romania that have reported four or more client matters so far in 2023 are independent law firms, unaffiliated with international or regional law firms? According to the Activity Rankings function of the CEELMDirect website, that group of domestic Romanian law firms is led by Filip & Company and RTPR, both of which have reported working on 12 client matters so far in 2023.

Filip & Company has advised growth investment fund Agista on its minority investment in Romania's Centrokinetic medical clinic network. RTPR advised Founder Andrei Bogdan and Centrokinetic on the deal.

RTPR has advised the Orange group's Orange Money Romania on the transfer of its retail business to Alpha Bank Romania. Filip & Company advised Alpha Bank.

Filip & Company has advised residential developer Alesonor on its partnership with the Verita International School & Kindergarten to develop the second Verita campus in Romania in Alesonor's Amber Forest suburb.

Tuca Zbarcea & Asociatii has advised arranger and financier Banca Transilvania and financier OTP Bank Romania on credit facilities worth RON 30.5 million and EUR 26.7 million for the Holde Agri Invest group. Filip & Company advised Holde Agri Invest.

Filip & Company has advised Banca Transilvania on its second bond issue under a program launched in April, which attracted EUR 200 million from the international markets. 

Clifford Chance has advised the underwriters of Hidroelectrica's RON 9.3 billion initial public offering. Filip & Company advised Fondul Proprietatea on the sale of its entire shareholding during the IPO. Dentons advised Hidroelectrica on the issuance and listing on the Bucharest Stock Exchange.