On June 6, 2023, Buzescu Ca announced that Danfoss' absorption of Sondex Holding's Romanian operations and subsidiaries (reported by CEE Legal Matters on February 14, 2019) had closed.
Dentons Advises Dawn Capital on Leading USD 35 Million Flowx.AI Series A Round
Dentons has advised London-based venture capital fund Dawn Capital on leading the USD 35 million Series A round for Flowx.AI joined by Day One Capital, PortfoLion, and SeedBlink.
Procurement Principles to Obtain Project Funding under the PNRR
Romania's National Recovery and Resilience Plan (PNRR), designed to ensure an optimal balance between EU priorities and Romania's development needs, provides significant opportunities for the private sector to benefit from financing to build and/or consolidate infrastructure capacity.
Romanian Government Publishes Draft Technical Procedures for the Establishment of Crypto-Currency Exchange and Custodian Wallet Providers
Following two (2) years of uncertainty, at the behest of the Romanian Government, the Ministry for Finance published the draft Government Decision for the approval of procedures for the authorisation and/or registration of providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers, on 12 May 2023. The Decision also included procedures for granting and withdrawing technical endorsements (the "Draft Decision").
Stratulat Albulescu and Tuca Zbarcea & Asociatii Advise on Walden Acquisition of Alex Transport
Stratulat Albulescu has advised the Walden Group on its acquisition of Alex International Transport 94 from Alexandru Constantinescu. Tuca Zbarcea & Asociatii advised the seller.
Banking & Finance in Romania
Contributed by Popescu & Asociatii.
RTPR Advises Innova Capital on Investment in Netopia
RTPR has advised private equity fund Innova Capital on its acquisition of a majority stake in payment services provider Netopia. The Ana Maria Andronic Law Office reportedly advised Netopia.
Diana Chitea Joins Simion & Baciu in Bucharest
Former Chitea Marilena-Diana Law Office Partner Diana Chitea has joined Simion & Baciu in Bucharest as a Managing Associate in the firm's Dispute Resolution practice.
Wolf Theiss Advises Banca Comerciala Romana on EUR 700 Million Green Issuance
Wolf Theiss has advised Banca Comerciala Romana on its EUR 700 million issuance of fixed to floating senior non-preferred green eurobonds due 2027, under a multi-issuer EMTN program.
Deloitte Legal and PNSA Advise on Bico Industries Acquisition of Iranga Technologijos
Deloitte Legal Lithuania and Popovici Nitu Stoica & Asociatii have advised Bico Industries on its EUR 3.2 million full acquisition of Iranga Technologijos. Triniti Jurex reportedly advised the sellers.
Wolf Theiss Advises DTEK Renewables on Glodeni Renewable Energy Project Acquisition
Wolf Theiss has advised DTEK Renewables International on the staggered share deal acquisition of a 49.38-megawatt photovoltaic power plant from Finas Invest.
Norton Rose, Ionescu Sava, and Integrites Advise on EBRD EUR 42 Million Financing for Cersanit
Norton Rose Fulbright, Ionescu Sava, and Integrites have advised the EBRD on its EUR 42 million senior secured loan for Cersanit to improve its production facilities in Poland and Ukraine.
Norton Rose Fulbright and Stratulat Albulescu Advise EIB on EUR 104 Million Financing for Maspex
Norton Rose Fulbright and Stratulat Albulescu have advised the European Investment Bank on a EUR 104 million financing granted to the Maspex Group.
Suciu Popa Advises Econergy on 80-Megawatt Renewables Acquisition in Romania
Suciu Popa has advised Econergy International on its acquisition of an 80-megawatt renewable energy project in Romania.
IPA Legal Advises RebelDot on Acquisition of Steepsoft
Irimie-Pop-Andrei has advised European software development company RebelDot on its acquisition of Steepsoft.
Legislative Changes Related to the Urbanism and Authorization of Construction Works With Focus on Renewable Energy Projects in Romania
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.