Tuca Zbarcea & Asociatii has advised Direct One on its acquisition of the underground telecom infrastructure of Bucharest, called Netcity, from UTI Netcity Investment BV and UTI Grup SA for an undisclosed sum. Leaua & Asociatii advised UTI on the deal.
The operator of the underground telecom network in the Romanian capital is Netcity Telecom. The project company developed support infrastructure as part of a concession contract signed in 2008 with the Bucharest City Hall that will run for 49 years. The network currently has approximately 1000 km of optic fiber.
In 2015 Netcity registered a turnover of RON 40.4 million (EUR 9.1 million), with a net profit of RON 14.5 million. The company has 24 employees. In 2015, Direct One reported turnover of RON 42.4 million, with a net profit of RON 12.7 million. The company employs 21 people.
The TZA team advising Direct One was led by Partners Catalin Baiculescu and Vlad Cercel.
The Leaua & Asociatii team was led by Partner Gina Gheorghe and Of Counsel Alexandru Codescu.
Editor's Note: On February 16, 2017, TZA informed CEE Legal Matters that the deal had now closed.
