Felix Tapai has been promoted to Tax Partner in charge of Maravela & Asociatii's affiliated tax advisory practice.
The Bucharest office of Schoenherr has announced the arrival of Georgiana Badescu from Voicu & Filipescu as a new Partner in charge of the office's competition practice. The partnership ranks in the office has also been expanded by the promotion of Eva Hegedus-Brown to Partner in the real estate practice.
NNDKP has successfully represented a joint venture formed of three Spanish and French companies — FCC Construccion S.A., Aqualia Intech S.A., and Suez International S.A. (case number 8424/2/2016) — in a dispute over the awarding of a public procurement contract related to the extension of the Glina Waste Water Treatment Plant and the construction of a sludge incinerator organized by Bucharest Municipality.
The firms of the SEE Legal network are reporting that they worked alongside Skadden Arps in advising BA Glass I – Servicos de Gestao e Investimentos S.A. (the parent company of BA Vidro S.A.) on its acquisition of substantially all of the Yioula Glassworks SA glass container business from Yioula Glassworks SA and its subsidiary Yalos Holdings (Overseas) Limited. Yioula Glassworks was supported on all legal issues by Winston & Strawn.
Kinstellar teams in Bucharest, Budapest, and Prague have worked alongside international counsel Sidley & Austin in advising Nidec, a leading Japanese manufacturer of electric motors, on the acquisition of Leroy-Somer and Control Techniques from Emerson Electric Co. Motors, a US provider of products and services for a wide range of industrial, commercial, and consumer markets. The transaction, valued at USD 1.2 billion, involved several jurisdictions across Europe, USA, and Asia and is part of Nidec’s strategy to expand its industrial and commercial business in Europe.
On November 17, 2016, CEELM reported on the merger of two shopping malls in Romania – Bucuresti Mall and Plaza Mall – owned and operated by the real estate and development company Anchor Group. We reached out to Mihaela Marin, the Head of Legal Department at Anchor Group, who agreed to elaborate on the merger.
Clifford Chance's Prague office has advised CBRE Global Investors, a Fortune 500 real estate company with offices in more than 64 countries worldwide, on the sale of its high-quality retail portfolio in Central and Eastern Europe to CPI Property Group (CPI). Dentons advised CPI on the transaction, which is valued at over EUR 600 million and will see properties including 11 shopping centers change hands across the Czech Republic, Poland, Hungary, and Romania.
Biris Goran has advised AdamAmerica Europe on its acquisition of Construdava, a 9,400 square meter office building located on Pipera-Tunari Road, in the North-East of Bucharest, from Commerzbank AG and Aberdeen Asset Management. CMS advised the sellers on the deal, which was signed in October, 2016, and closed at the end of December, 2016
Musat & Asociatii has assisted Emerson S.R.L., the Romanian subsidiary of Emerson Electric, with the separation of Emerson Network Power for the purpose of its transfer to the American investment fund Platinum Equity. The transaction was made at global level and amounted to approximately USD 4 billion.
In 2016, the Romanian Financial Supervisory Authority (FSA) has continued to harmonize the standards of integrity, transparency, and prudent management applicable to all the entities under its supervision: capital market entities (i.e., investment firms, asset management companies, undertakings for collective investment, central depositories, market operators, clearing houses, and central counterparties), insurance/reinsurance companies, and private pension fund managers.
Allen & Overy has advised South Africa-based Internet and entertainment group Naspers on its sale of the comparison shopping engines Arukereso.hu, Compari.ro, and Pazaruvaj.com to the Rockaway Group. Dentons reportedly advised the buyers on the deal, which consolidated the e-commerce markets within the CEE region.
In our new Marketing Marketing feature, introduced in this issue, we ask our law firm marketing and business development friends across CEE to share their experience and perspectives on their profession. The premier question is a simple one: If you had three more hours in the day at work, what one part of your job would you prioritize in that extra time?