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ZRP Assists Complexul Energetic Hunedoara in Merger with Societatea Nationala a Huilei Petrosani

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Zamfirescu Racoti & Partners (ZRP) has advised Complexul Energetic Hunedoara, a company fully owned by the Romanian State, on its absorption of Societatea Nationala a Huilei Petrosani, a state company active in the mining field. The formalities of registration with the Trade Registry Office of the merger operation were completed on July 8, 2013.

The merger is designed to make Complexul Energetic Hunedoara more efficient, to reduce its production costs significantly and to consolidate its position in the Romanian power system. As a result of the merger, the entity now includes the Mintia and Paroseni heat and power plants and the Vulcan, Lonea, Livezeni, and Lupeni coal mines, and according to ZRP "its main object of activity is the production and supply of heat and power and operation of pit-coal mines.”

“I am glad that we have managed to complete this project successfully, complying with the rather short terms imposed on us,” said ZRP Senior Partner Anca Danilescu. "It has been no easy mission, so much the more as the operation needed the prior authorization by the Competition Council. Such an action implies hard work and good knowledge of the areas in which the companies involved conduct their business. Moreover, in case of an intra-group merger, the challenges are even more: each entity is trying, naturally, to preserve its interests and to impose its vision, there are negotiations, organizational structures and decision-making mechanisms suitable for both parties have to be reassessed.” 

The ZRP team was coordinated by Danilescu and included Managing Associate Elena Iacob and Senior Associate Iuliana Negoita, Senior Associate.

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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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