CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
On 31 December 2021, Emergency Ordinance no. 143/2021 amending Electricity and Natural Gas Law no. 123/2012 and amending certain regulatory acts (“GEO 143/2021”) was published in the Official Gazette of Romania no. 1259 and entered into force. GEO 143/2021 is intended to transpose into national law Directive (EU) 2019/944 on common rules for the internal market for electricity and amending Directive 2012/27/EU (“Directive 944/2019”).
Filip & Company has advised Banca Comerciala Romana on the sale of a part of its BCR Fleet Management operational leasing business to the Arval group. Radu Taracila Padurari Retevoescu advised the buyer.
Suciu Popa has advised on the establishment of Enel Group's e-mobility arm in Romania under the Enel X Way brand.
PwC's Romanian affiliate D&B David and Baias has advised Fiterman Pharma on the sale of its Uractiv product portfolio to Sun Pharma company Terapia. KPMG Legal affiliate Toncescu si Asociatii reportedly advised the buyer.
BPV Grigorescu Stefanica has advised Sarmis Capital-backed Smart ID Dynamics on the acquisition of the Brasov-based integrated software solutions provider Spectrum. LC Legal Proof advised Spectrum on the deal.
Law No. 129/2019 on preventing and combating money laundering and terrorist financing and amending and supplementing certain legislative acts (“Law 129/2019”) has been amended by the Government Emergency Ordinance No. 53/2022 published in the Official Gazette, Part I, No. 394 of 21 April 2022 (“GEO 53/2002”).
Radu Taracila Padurari Retevoescu has advised Chimopar on the EUR 25 million sale of a Bucharest plot of over 20 hectares, located on Theodor Pallady Boulevard.
On June 6, 2022, Filip & Company announced that the Tiriac Group’s sale of Tiriac Leasing to Banca Transilvania (reported by CEE Legal Matters on February 7, 2022) has now closed, following regulatory approval.
Glovo’s Victor Racariu Talks About the Deal of the Year in Romania - Glovo's Acquisition of Delivery Hero's Operations in Bulgaria, Romania, Serbia, Bosnia & Herzegovina, Montenegro, and Croatia.
On 25 May 2022, Law no. 157/2022 („Law 157/2022”) amending Law no. 256/2018 on certain measures necessary for the implementation of oil operations by offshore oil perimeter owners (“Offshore Law”) was published in the Official Gazette of Romania no. 516 and entered into force on the same date.
New amendments to Law No. 422/2001 on the protection of historic monuments (Law 422) were posted for discussions on the website of the Ministry of Culture, on January 12, 2022, in the shape of a Government Ordinance (Bill) intended to amend and supplement Law 422. Any suggestions or opinions should have been submitted no later than January 24.
Emergency Ordinance No. 58/2022 amending and supplementing consumer protection acts (“GEO No. 58/2022”) was published in the Official Gazette, Part I, No. 456 of 6 May 2022. The act entered into force on 28 May 2022.
Zamfirescu Racoti Vasile & Partners has provided pro bono legal assistance to 45 survivors and persons close to the victims of the Colectiv Club fire before the magistrates of the Bucharest Court of Appeal.
Former Enel Romania Head of Legal has joined Enel Green Power as its Head of Legal in Bucharest.
Musat & Asociatii has advised the Catted Group on the financing provided by Libra Internet Bank for the development of the Catted Family residential project.
Stratulat Albulescu, working with Luxembourg-based Bonn Steichen and Partners, has advised Machinations.io on a USD 3.3 million USD Series A round. White & Case's London office reportedly advised Hiro Capital, who led the round.
GEO no. 67/2022, published in the Official Gazette on 23 May 2022, enforces the application of fiscal incentives for companies who decide to increase their employees’ salaries from the minimum gross salary, i.e. RON 2,550, to RON 2,750, for salaries from 1 June - 31 December 2022.
PwC's Romanian affiliate D&B David and Baias has advised the shareholders of Thagora Technology on the sale of their company to the Lear Corporation. Mitel & Partners advised Lear.
Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.
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