Kinstellar has advised Danish developer Jantzen Renewables ApS on its sale of the Helios 1 photovoltaic cluster in Romania to OMV Petrom. Schoenherr reportedly advised OMV.

RTPR has advised private equity fund Sarmis Capital on its acquisition of a majority stake in the BMF Grup facility management company. Dentons advised BMF Grup.

Schoenherr has advised the Catalyst Romania Fund II on a EUR 2 million transaction involving a sports subscription start-up by ESX.

On 26 April 2023, the Court of Justice of the European Union ("CJEU" or the "Court") rendered an interesting new judgment that reopens the discussion about the problems posed by the legal protection of pseudonymized data. The Eighth Chamber, Extended Composition, of the General Court issued a judgment in case T-557/20 which involved the Single Resolution Board, as the central resolution authority within the European Banking Union ("Single Resolution Board" or "SRB") and the European Data Protection Supervisor ("EDPS").

Former Prime Kapital Development real estate development and M&A Lawyer Alexandru Coras has returned to private practice by joining Stalfort Legal-Tax-Audit in Romania as a Partner.

DLA Piper has advised the Phoenix group on its joint venture with Econergy resulting in a EUR 150 million investment by the Phoenix group in renewable energy projects in Romania and Poland. Vlasceanu & Partners advised Econergy.

Cryptocurrency, fiat currency exchange services and digital wallet providers could soon become authorised in Romania. This comes on the heels of the Ministry of Finance publishing a draft government decision that seeks to create the legal framework for the authorisation and operation of these service providers.

Stratulat Albulescu has advised Undelucram.ro on its EUR 1 million late-seed funding round led by Sofia Angels Ventures.

CEE Attorneys Boanta Gidei si Asociatii has advised the shareholders of Expert Cleaning on its sale to Green Group.

Schoenherr has advised BlackPeak Capital portfolio company euShipments.com on its acquisition of a majority stake in Romanian e-fulfillment provider Helpship.

On June 7, 2023, the Arbitration Association of Central and Eastern Europe – ArbCEE – was officially launched in Bratislava.

Musat & Asociatii has advised Magna International Inc. on its acquisition of Veoneer's active safety business from private equity firm SSW Partners. 

On November 11, 2022, the Romanian Senate (as decisional chamber) passed a draft law that includes certain amendments with respect to the terms applicable to administrative and court challenges brought against construction and urbanism documentation.

Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.

Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?

Contributed by Filip & Company

Recognizing the pressing need to rectify certain conflicting provisions within the existing legal framework applicable to the permitting process of renewable energy projects (as previously reported in the Wolf Theiss Client Alert dated January 12th, 2023 available here), Romanian lawmakers have been working since the start of 2023 to introduce legislative amendments to Urbanism Law 350/2001 and Construction Law 50/1991.

The Romanian FDI regime has formally shifted to a stricter approach, with EU (including Romanian) investors now being specifically covered. We refer to Law No. 164/2023 (the "FDI Law") aimed at implementing and amending Emergency Government Ordinance No. 46/2022 ("EGO 46"), which was published in the Official Gazette of Romania on 7 June 2023.