Starting May 25, 2018, all companies, irrespective of their field of activity, have to comply with the stricter rules on personal data processing introduced by General Data Protection Regulation No. 679/2016 (the GDPR) or face significantly larger fines. The gap between the current maximum fines, which cannot exceed EUR 22,000, and the fines under the GDPR, which can go as high as EUR 20,000,000 or 4% of the annual worldwide turnover, have drawn a significant amount of attention to the topic.
RTPR Allen & Overy has advise the Enterprise Investors private equity fund on the sale of the Profi Rom Food – the largest supermarket chain in Romania – to Mid Europa Partners. Dechert and Bondoc & Asociatii advised the buyers on the deal, which is reportedly the largest deal ever completed by a private equity fund in Romania and the largest deal in the retail sector in the country’s history. The transaction remains subject to approval by Romania's Competition Counsel.
Rizoiu & Poenaru, Clifford Chance, and Skadden, Arps, Slate, Meagher & Flom have advised Affidea on its acquisition of the Hiperdia diagnostics centers in Romania. Bondoc & Asociatii and Weil, Gotshal & Manges advised Hiperdia on the transaction, which remains contingent on obtaining regulatory approvals.
Franklin Templeton Investment Management Ltd. United Kingdom Bucharest Branch, acting in its capacity as the Investment Manager of Romanian Fondul Proprietatea, has announced that Fondul Proprietatea has sold its full shareholding in E.ON Distributie Romania S.A. and E.ON Energie Romania S.A. Bondoc & Asociatii advised the seller.
Women’s Day is behind us, but the subjects of gender equality and equal opportunity are of year-round concern. This, the first part of a special two-part CEE Legal Matters article on women in private practice in CEE, provides the numbers and percentages from leading law firms across CEE, as well as a more thorough snapshot of one representative market. Part II of the report, in the June issue, will pull back the curtain even more, providing feedback and perspectives from lawyers across the region.
Bar associations are responsible for the regulation of the legal profession as well as professional organizations dedicated to serving their members. In Romania, the Activity Report for 2013 of the Romanian National Union of Bar Associations (UNBR) states that the UNBR Congress’ mission is to “constantly support the development of the training level of lawyers, enhance relationships between the different Bar Associations in the country and, where needed, make decisions with regards to the deontological regulations of the profession.”