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Closing: Danfoss' Absorption of Sondex in Romania Now Closed

Closing: Danfoss' Absorption of Sondex in Romania Now Closed

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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.

The merger was part of a global deal announced in 2016, whereby Danfoss and Sondex had agreed for Danfoss to acquire full ownership of privately-held heat transfer technology company Sondex Holding. 

According to Buzescu Ca, "Danfoss is a global leader in the development and production of mechanical and electronic equipment and controls," based in Denmark, with almost 42,000 employees globally and serving customers in more than 100 countries.

Sondex is a manufacturer and supplier of commercial & industrial heat exchange equipment.

As initially reported, Buzescu Ca advised Danfoss on the absorption. The same firm has also advised Sondex's Romanian operations and subsidiaries on the merger.

In the meantime, in 2021, Buzescu Ca also advised Danfoss on its sale of a land plot containing a factory and office space in the Bucharest metropolitan area to Transparent Design (as reported by CEE Legal Matters on February 8, 2021) and on its sale of a plant and the surrounding land in Cluj, Romania, to NKS Logistic Business (as reported by CEE Legal Matters on May 13, 2021).

The Buzescu Ca team included Partner Peter Buzescu and Senior Associate Corina Papuzu.

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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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