Thu, Jun
40 New Articles

Clifford Chance Advises OMV Petrom on Delisting GDRs from London Stock Exchange

Clifford Chance Advises OMV Petrom on Delisting GDRs from London Stock Exchange

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Clifford Chance Badea has advised Romanian oil and gas company OMV Petrom on the delisting of its global depository receipts from the London Stock Exchange.

The transaction also involved working with the regulatory authorities in Romania and the UK's Financial Conduct Authority. The GDRs were initially admitted to trading on the London Stock Exchange’s main market for listed securities back in October 2016.

Having advised on the initial listing as well, Clifford Chance Badea Partner and Head of Capital Markets Madalina Rachieru-Postolache noted: "I am particularly proud of being able to see the circle completed with this delisting, which is also a sign that the Romanian capital market has reached that competitive edge so as to compete with the largest European capital markets."

The Clifford Chance team was led by Rachieru-Postolache and included Bucharest-based Senior Associate Gabriel Toma and London-based Senior Associate James Koessler and Associate Mathias Toubiana.

Romanian Knowledge Partner

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). 

Firm's website.

Our Latest Issue