Gladei & Partners and K&L Gates have advised the EBRD on the acquisition of a 25% stake in Vestmoldtransgaz, a gas transmission company operating the newly built Ungheni-Chisinau gas pipeline. Turcan Cazac reportedly advised Vestmoldtransgaz on the deal.
According to the EBRD, "the capital increase of Vestmoldtransgaz is EUR 20 million," and "the 120 km Ungheni-Chisinau gas pipeline will soon become operational and complete the connection of the gas transmission systems of Romania and Moldova by linking the capital Chisinau to the Iasi-Ungheni interconnector between the eastern Romanian city of Iasi and Ungheni, a Moldovan town on the Romanian border."
“This connection will enhance Moldova's energy security by diversifying its gas supply sources, a prerequisite for the country's successful development,” commented EBRD Vice President Alain Pilloux. “The project also helps integrate Moldova into future major gas infrastructure projects such as the Trans Adriatic Pipeline and gas sources from central European hubs and links it with Black Sea gas deposits. Greater integration will deliver economic benefits for consumers.”
Founded in 2014, Vestmoldtransgaz owns and manages a gas pipeline network in western Moldova and provides natural gas transportation services. In 2018 it was taken over by Eurotransgaz, a subsidiary of SNTGN Transgaz, the company operating the Romanian natural gas transmission system.
Gladei & Partners’ team included Managing Partner Roger Gladei, Senior Associate Dan Nicoara, and Associate Vlad Roibu.
Editor's Note: After this article was published, Turcan Cazac informed CEE Legal Matters that its team included Partners Vadim Taigorba and Ana Galus and Senior Associate Olga Saveliev.
In addition, Tuca Zbarcea & Asociatii announced that it had advised sellers TransGaz and its Moldovan subsidiary Eurotransgaz. The firm's team included Partner Sorin Vladescu and Managing Associate Nisa Jecu.