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The Ministry of Economy has officially announced the opening of the call for submission of applications under the state aid scheme regulated by Government Decision no. GD 959/2022 for financing assets and/or salary costs. The period for submitting financing requests is scheduled between 1 November 2022 to 16 December 2022, when investors may file the relevant documentation.

The legal framework regarding representative offices of foreign companies in Romania was recently amended with the publication in the Official Gazette of Romania, Part I, no. 779 of 4 August 2022, of Ordinance no. 18/2022 on the authorisation and operation in Romania of representative offices of foreign companies and business entities (“Ordinance”).

Government Decree No. 230/2022 passed on 28 June 2022 introduced a new regime which enables the Hungarian Government to place certain entities under the supervision of the Hungarian State. Such entities shall have a significant or dominant position in the energy industry, in particular in the following sectors having strategic and national security importance: (i) electricity, (ii) natural gas, (iii) crude oil, (iv) district heating and (v) mining. The legislation expressly mentions two entities, i.e. FGSZ Natural Gas Transmission Private Company Limited by Shares and the Hungarian Hydrocarbon Stockpiling Association.

Dorda has advised the DigitalBridge Group on its joint acquisition with Brookfield Infrastructure and its institutional partners of a 51% stake in GD Towers from Deutsche Telekom. E+H and Latham and Watkins advised the bidding consortium of GIP, KKR, and Stonepeak. Reportedly, Allen & Overy and Morgan Lewis also advised DigitalBridge, Freshfields and Weil, Gotshal & Manges advised Brookfield Infrastructure, while, on the sell side, Gleiss Lutz, Noerr, CMS, Schoenherr, Cuatrecasas, and Freshfields advised Deutsche Telekom on the deal.

It is truly remarkable that in the year 1874, Jules Verne imagined that “water will one day be employed as fuel, that hydrogen and oxygen which constitute it, used singly or together, will furnish an inexhaustible source of heat and light, of an intensity of which coal is not capable”. After 148 years, Jules Verne’s dream is slowly becoming reality as it is actively acknowledged by global companies, governments and world leaders.

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