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CEE Attorneys Advises Simacek on Restructuring of Romanian Entities

CEE Attorneys Advises Simacek on Restructuring of Romanian Entities

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CEE Attorneys/Boanta, Gidei si Asociatii has advised Austria's Simacek group on the consolidation of the facility management activities of its Romanian entities Simacek Cleaning and Simacek Gardening into one Group company — Simacek Facility Services. Simacek Gardening and Simacek Cleaning retained other, non-facility management-related business activities.

"The process of implementing the two partial spin off operations was a complex one," reported CEE Attorneys Partner Nicolae Ursu, who led the firm's team on the deal, "[as] the transfer of assets and liabilities was operated in a single beneficiary company (Simacek Facility Services), by two parallel partial spin-offs. Considering that in practice, the second partial spin-off operation is implemented, as a rule, after the preparation of the financial statements for the first spin-off, the main challenge of the lawyers, tax consultants, and Simacek management was to carry out the two operations simultaneously and in a centralized way, as if it were a single one.”

Ursu was supported by CEE Attorneys Associate Elena Sopotean.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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