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Dentons and White & Case Advise on Financing for Chimcomplex Acquisition of Oltchim Assets

Dentons and White & Case Advise on Financing for Chimcomplex Acquisition of Oltchim Assets

Romania
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Dentons has advised Credit Suisse AG and Stratulat Albulescu and White & Case have advised VTB Bank Europe SE on financing for Chimcomplex SA Borzesti's acquisition of several asset bundles from Oltchim SA. Bondoc & Asociatii advised Oltchim on the sale and Reff & Associates, a member of Deloitte Legal, developed the due dilligence report based on which Chimcomplex secured its financing.

Credit Suisse AG provided EUR 40 million and VTB Bank provided EUR 124 million for financing the transaction. 

According to Dentons, Romania's state-owned Oltchim has been in insolvency since the beginning of 2013, and the sale of its assets was conducted according to a restructuring plan and as part of a complex privatization process.

As previously reported, Maravela ⎮Asociatii assisted Chimcomplex in the Romanian Competition Council's merger review procedure related to its takeover of Oltchim’s assets.

The Dentons team on the cross-border transaction was led by Bucharest-based Managing Partner Perry Zizzi, supported by Bucharest Partners Bogdan Papandopol, Claudiu Munteanu-Jipescu, and Cristina Daianu, Managing Counsel Magdalena Raducanu, Counsel Septimiu Stoica, Senior Associate Oana Ionascu, and Associates Razvan Constantinescu and Cosmin Vasilescu. Dentons' London team consisted of Partner Catherine Astruc and Senior Associate Adam Jones, and its team in Amsterdam included Partner Marcel Janssen, Senior Associate Jack Schrijver, and Associate Gerard Koster.

The Stratulat Albulescu team was led by Partner Costin Teodorovici, supported by Partners Florin Dutu, Irina Petre, Corneliu Popa, and Ana Kusak, Managing Associate Laura Neascu, and Senior Associate Andrei Balus.

The White & Case team was led by Prague-based Partner Jonathan Weinberg.

The Reff & Associates team was coordinated by Partner Georgiana Singurel and included Managing Partner Andrei Burz-Pinzaru, Partner Irina Dimitriu and Florentina Munteanu, Managing Associate Ovidiu Balaceanu, and Senior Associates Diana Ghintuiala, Oana Bucsa, and Elena Marcu.

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