Stratulat Albulescu has advised Vectr Fitness – the main shareholder of the World Class fitness chain in Romania – on the acquisition of Nextfitness & Wellness from Sergiu Irimescu and Sergiu Dan Serban. Solo practitioner Zoltan Nemeth advised the sellers.
D&B David si Baias Advises Memorial Healthcare on Acquisition of Monza Oncology Hospital
PwC Legal Romanian affiliate D&B David si Baias has advised Memorial Healthcare on its acquisition of the Monza Oncology Hospital within the Enayati Medical City in Bucharest.
Changes to the Subsidies Scheme for Electricity and Natural Gas Bills and Other Amendments to Embrace the Energy Crisis
On 13 December 2022, Law No. 357/2022 (“Law 357/2022”) on the approval of Emergency Ordinance No. 119/2022 amending Emergency Ordinance No. 27/2022 (“GEO 27/2022”) on measures applicable to final customers in the electricity and natural gas market in the period between 1 April 2022 and 31 March 2023, as well as for amending certain regulatory acts in the energy field (“GEO 119/2022”) was published in the Official Gazette of Romania no. 1198. Law 357/2022 entered into force on 16 December 2022, except for certain provisions which will enter into force at a later date. Below is a selection of some of the more relevant provisions set forth under Law 357/2022.
Romania: Tech Layoffs - Isolated Incident or New HR Trend
Lately, the tech industry seems to have taken a major hit, with more and more companies deciding to lay off hundreds or even thousands of employees and/or implementing a hiring freeze until next year. When we see FAANG (Facebook, Amazon, Apple, Netflix, Alphabet) announcing such massive layoffs, there is no point asking whether this will affect the entire tech industry. However, the question remains whether this will trigger a domino effect in the market, or even if it is the start of a new HR layoff trend and how companies should approach this situation.
Romania: Financing Cinematography
Romania benefits from being one of the EU countries with lower cinematographic production costs, and that is why it is on the radar of many international studios. The cumulative annual turnover of the film industry in Romania is approximately EUR 53 million, derived mainly from foreign productions in Romania.
Cytowski & Partners Advises on GoodLegal Pre-Seed Investment
Cytowski & Partners has advised GoodLegal on a EUR 1.2 million pre-seed investment led by the Earlybird Digital East Fund. Cohen & Ostler reportedly advised Earlybird.
Stratulat Albulescu and The Law Chamber Advise on Keys REIM Sale of Bucharest Building to One United Properties
Stratulat Albulescu has advised Keys REIM on its EUR 13.5 million sale of an unfinished building in Bucharest to One United Properties. The Law Chamber advised the buyer.
Clifford Chance Advises UniCredit Bank on RON 488.5 Million Corporate Bond Issuance
Clifford Chance Badea has advised UniCredit Bank in Romania on its RON 488.5 million corporate bond issuance.
Bulboaca & Asociatii Helps Investimental Obtain Financial Investment Services Authorization
Bulboaca & Asociatii has supported Investimental in obtaining its financial investment services authorization from the Romanian Financial Supervisory Authority.
BDK Advokati Advises Sandberg Capital on Investment in Quantox
BDK Advokati has advised Sandberg Capital on its EUR 20 million investment in Quantox. Nestor Nestor Diculescu Kingston Petersen and Polenak reportedly advised Sandberg as well.
PNSA Advises Romanian Business Consult on Acquisition of Fullscreen Digital
Popovici Nitu Stoica & Asociatii has advised Romanian Business Consult on its acquisition of Fullscreen Digital. Filip & Company reportedly advised the seller.
Closer Look: Popescu & Asociatii's Loredana Popescu on Successfully Representing the City of Sinaia in a Construction Dispute
On November 16, 2022, CEE Legal Matters reported that Popescu & Asociatii had successfully represented the interests of the City of Sinaia in a construction dispute. CEELM reached out to Loredana Popescu, Partner at Popescu & Asociatii to learn more about the matter.
Romania: New Regulations Regarding Social Dialogue
Law 367/ 2022 on social dialogue was published in the Official Gazette of Romania, Part I, no. 1238 of 22 December 2022 ("Law 367/ 2022").
The Odyssey of Urban Planning in Bucharest
Bucharest is currently going down a rocky road insofar as urban regulations are concerned, which have gone through a real odyssey, from being judicially and administratively suspended, to some of them ending up by being finally cancelled by the administrative litigation courts.
Wolf Theiss Advises AFI on EUR 450 Million Credit Facility
Wolf Theiss has advised AFI on a EUR 450 million credit facility for the purposes of refinancing its three shopping centers in Romania – AFI Cotroceni in Bucharest, AFI Ploiesti, and AFI Brasov.
Filip & Company Advises Fondul Proprietatea on Sale of OMV Petrom Shareholding
Filip & Company, working with Linklaters’ London office, has advised Fondul Proprietatea on the sale of its entire shareholding in OMV Petrom for RON 764.1 million via an accelerated private placement.
Bulboaca & Asociatii Successful for Eazy Asigurari in Obtaining Operating License
Bulboaca & Asociatii has successfully represented insurance company Eazy Asigurari before Romania’s financial supervisory authority in obtaining its operating license.
Tuca Zbarcea & Asociatii and Mitel & Partners Advise on MedLife Credit Facility
Tuca Zbarcea & Asociatii has advised a banking syndicate on a new credit facility for MedLife, as part of the company's EUR 228 million syndicated loan. Mitel & Partners advised MedLife on the loan.