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Schoenherr and Tuca Zbarcea & Asociatii Advise on OMV Petrom and Renovatio Partnership

Schoenherr Advises PESA on EUR 223 Million Contract with Romanian Railway Reform Authority

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Schoenherr and sole practitioner Mihaela Aliman have advised Renovatio on its two-pronged transaction with OMV Petrom concerning the sale of a 50% stake in 1-gigawatt renewable projects company Electrocentrale Borzesti and the sale of Renovatio Asset Management, operating more than 400 electric-vehicle charging points in Romania. Tuca Zbarcea & Asociatii advised OMV Petrom.

Closing is expected in the first half of 2024. Renovatio is an infrastructure asset owner. OMV Petrom is the largest integrated energy company in Southeast Europe, according to its website.

According to Schoenherr, “one arm of the deal refers to the sale of a 50% stake in Electrocentrale Borzesti, which holds an approximately 1-gigawatt capacity of renewable projects (950 megawatts of wind and 50 megawatts of photovoltaics). These projects will be further developed, built, and operated by RNV Infrastructure in partnership with OMV Petrom.”

“The second arm of the transaction refers to the divestment of Renovatio Asset Management, the owner of Romania's largest network of electric vehicle charging stations, with more than 400 EV charging points and plans to increase to approximately 650 by 2026 [...] Through this newly formed partnership, OMV Petrom together with Renovatio plan to invest approximately EUR 1.3 billion in renewables by 2027, including bank financing,” the firm reported.

The Schoenherr team included Partner Georgiana Badescu and Local Partner Monica Cojocaru.

The Tuca Zbarcea & Asociatii team included Partners Cornel Popa, Silvana Ivan, and Alexandra Peres and Managing Associate Nisa Jecu.

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.

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