Clifford Chance Badea has advised the arrangers on implementing the EUR 500 million bond issuance of Banca Transilvania. Filip & Company advised issuer Banca Transilvania.

Popovici Nitu Stoica & Asociatii has announced it is acting as the exclusive legal advisor for Romanian swimmer David Popovici.

Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.

The Romanian public and sectoral procurement legislation has recently undergone several important changes aimed at clarifying certain provisions that used to be open to interpretation and/or have given rise to disputes in practice.

Clifford Chance Badea has advised a bank syndicate coordinated by Banca Comerciala Romana on the USD 531.8 million syndicated loan facility – which can be increased to USD 600 million – for three KMG International Group companies in Romania: Rompetrol Rafinare, Rompetrol Downstream, and KMG Rompetrol.

April 2023 – Early 2023 is shedding light on how to implement the numerous changes to Romanian labour law that occurred during 2022. In addition, at the EU level, a new directive which is set to come into force provides for equal pay for women and men.

Following the legislative changes introduced at the beginning of 2022 concerning the long-term visa for digital nomads, the Romanian tax authorities have published Law no. 69/2023 in the Official Gazette no. 265 of 30 March 2023.

The business world is evolving at lightning speed, and technology is at the forefront of this change. One of the most significant technological advancements is the use of chatbots such as OpenAI's ChatGPT. Even though using ChatGPT might sound like a good idea and simplify workflows, its widespread use in the workplace can be a double-edged sword, raising concerns about the potential risks and legal issues that employers must take into account to safeguard their business.

Schoenherr has advised HS Timber Group on its sale of HS Timber Productions Sebes to Ziegler Group. BPV Grigorescu Stefanica and BPV Huegel advised the buyer.

Law 88/2023, which was published in Official Gazette no. 310 from 12/04/2023, contains important amendments to the Romanian Fiscal Code.

Last week the European Union took a major step towards regulating the fast-growing cryptocurrency market with the final approval of the Regulation on Markets in Crypto-Assets (“MiCA”). The new regulation was approved by the European Parliament on 20 April 2023, and is now subject to formal endorsement by the European Council and publication in the Official Journal of the European Union.

Despite the challenging global landscape, Romania’s banking sector continues to show resilience – with M&A activity in line with the second half of 2022 – according to Filip & Company Partner Alexandra Manciulea.

A new promotion round saw 62 lawyers become Partners at CMS – spanning 25 cities across the UK, Europe, the Middle East, Africa, and Latin America – including Arno Zimmermann, Hans Lederer, and Klaus Pateter in Vienna, Alicja Zalewska-Orabona in Warsaw, and Mihai Jiganie-Serban in Bucharest.

Musat & Asociatii has advised Adesgo on the sale of its seamless apparel manufacturing, marketing, and distribution business to Tefron Europe.

Many books have been written and just as many films have been made trying to show what the future will look like, but we are much closer to knowing it with the advent of artificial intelligence and, more specifically, generative artificial intelligence. Generative artificial intelligence is a type of artificial intelligence that can generate new content, as opposed to systems that simply analyse or act statically on an existing data set.

Dentons has advised NEPI Rockcastle on a EUR 200 million secured green real estate financing from Erste Group Bank and Raiffeisen Bank. Wolf Theiss reportedly advised the banks.

Nestor Nestor Diculescu Kingston Petersen has successfully represented Hammerer Aluminium Industries Santana in a fiscal dispute related to transfer pricing aspects before the High Court of Cassation and Justice.

In 2022, the Romanian competition authority focused on closing important investigations, recorded the highest number of cleared mergers in recent history and set the legislative framework for new directions of action and analysis.