Hidroelectrica's acquisition of the ABC and Calnicel platform business lines from UCM Resita (reported by CEE Legal Matters on December 22, 2023) closed on March 11, 2024, as announced by PeliPartners and Voicu & Asociatii.
UCM Resita is the oldest industrial unit in Romania. According to PeliPartners, the transaction was structured as a business transfer, consisting of the transfer of all the assets dedicated by UCM Resita and necessary to carry out the lines of business comprising the manufacturing and sale of hydro aggregates and ancillary equipment. The business was acquired through a subsidiary solely held by Hidroelectrica and incorporated as a special-purpose vehicle for the acquisition of the business. As previously reported, PeliPartners advised Hidroelectrica.
According to Voicu & Asociatii, "the oldest industrial platform in the country is being taken over by Hidroelectrica, the largest green energy producer in Romania [...] In January this year, Hidroelectrica's shareholders approved the transaction whereby the electricity producer and supplier takes over the UCMR business, as well as the establishment of a new company, Uzina de Constructii Masini Hidroenergetice (UCMH) to which the business is being transferred at a price of RON 67.9 million." Voicu & Asociatii acted on behalf of the consortium of judicial administrators of debtor UCM Resita, through its insolvency arm, VF Insolventa.
The PeliPartners team included Partner Carmen Peli, Managing Associate Oana Bucsa, Senior Associates Delia Dumitrescu and Delia Lepadatu, and Associate Marc Barabas.
The Voicu & Asociatii team was led by Partner Mariana Popa.