In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. As sunny days recede, the fall conference season is upon us, so we asked: How do you determine which Partner attends which events?

Popescu & Asociatii Partner Loredana Popescu and Avellum Partner Maksym Maksymenko look at the current status of agribusiness in their countries – both traditional powerhouses in the sector – highlighting how they are managing to show resilience despite tough years.

Romania remains an attractive jurisdiction for many foreign investors across various industries, but it faces challenges related to fiscal administration and predictability. A notable example is the introduction of a new taxation regime for large companies, which became effective on January 1, 2024. Naturally, this initiative triggered several reactions from the business community. Initially, efforts were made to prevent the enactment of such legislation or to propose amendments to mitigate the envisaged fiscal impact. Subsequently, in response to the law’s implementation, companies have begun analyzing different restructuring scenarios to establish optimal business structures that would allow them to continue operating while neutralizing the fiscal burden.

Schoenherr has advised Enery on a EUR 214.45 million loan facility from a syndicate including UniCredit Bank, Banca Comerciala Romana, and Erste Group Bank with BCR and UniCredit acting as the joint coordinators and bookrunners, UniCredit as the documentation agent, and BCR as the ESG coordinator, security, and facility agent. Clifford Chance advised the banks.

Nyerges & Partners has advised KER Toki on obtaining an electricity supply license from the Romanian Energy Regulatory Authority.

TGS Baltic has advised INVL Baltic Sea Growth Fund on its acquisition of Pehart Group in Romania from Abris Capital Partners. RTPR advised Abris Capital Partners.

Wolf Theiss has advised Banca Comerciala Romana on a EUR 29.5 million credit facility granted to Unirii View. Tuca, Zbarcea & Associates advised Unirii View.

Kinstellar, working with Osborne Clarke, has advised Mpac Group on its EUR 56 million acquisition of the CSi Palletising group.

Radulescu & Musoi Partner Roxana Musoi reflects on a dynamic year for Romania’s M&A market, highlighting shifting entrepreneurial mindsets and opportunities driven by European funds.

The Romanian Company Law no. 31/1990 has been amended through the recent Law no. 299/2024 to better align with technological developments and the evolving needs of the business landscape. Notably, a key update is enabling remote (online) attendance and electronic voting in general shareholder meetings, among other relevant revisions.

Schoenherr has advised Otokar on a USD 1 billion public contract with Romanian state company Romtehnica, an entity of the Ministry of National Defence.

Former NGL Symbio alliance founding members Rowan Legal, Erdos Partners, Biris Goran, and HKV have announced a new set-up under the Horizons Alliance brand.

Dentons has advised CEC Bank on a EUR 300 million issuance of eligible senior non-preferential securities, intended to be classified as MREL-eligible instruments. Clifford Chance advised joint bookrunners and co-arrangers Erste Group Bank and ING Bank and co-manager BT Capital Partners.

Recent legislative developments in Romania, such as the Methodology for Preventing and Combating Harassment Based on Gender and Moral Harassment in the Workplace (October 12, 2023) and the ratification of Convention No. 190/2019 on Violence and Harassment in the World of Work, have created a robust framework to address workplace harassment. These changes reflect an international push for safer, more inclusive work environments, but their implementation raises questions about practical challenges and long-term impact.

Schoenherr has advised Enery on signing an 11-year virtual power purchase agreement with Nokian Tyres for the supply of zero CO2 emission energy to Nokian Tyres' new passenger car tire factory in Oradea, Romania.

Reff & Associates | Deloitte Legal has advised Damen Galati Shipyard on EUR 25 million in financing from Exim Banca Romaneasca.

Greenberg Traurig and Filip & Company have advised Polish chemical group Qemetica on its acquisition of PPG's precipitated silica business for approximately PLN 1.2 billion (USD 310 million). Hogan Lovells advised PPG.

On November 7, 2024, M&A experts from Austria, Bosnia & Herzegovina, Croatia, Greece, Hungary, Moldova, Romania, and Ukraine participated in a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the FDI screening regimes in their country and key developments in the area on the horizon.