On November 30, 2022, the BLS-CEE Law Firm announced that Wirtualna Polska’s acquisition of the Szallas Group from Portfolion Capital Partners and private individuals (reported by CEE Legal Matters on September 16, 2022) had closed.

On November 10, four Banking & Finance experts from Croatia, Hungary, Romania, and Serbia sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss banking consolidation, financing availability, the effects of high interest rates, bank capitalization, green financing, the specter of loan restructuring, and the other challenges the sector is facing.

Tuca Zbarcea & Asociatii has advised Smithfield Group subsidiary Elit on its acquisition of Goodies Meat Production. PwC Legal Romanian affiliate D&B David si Baias advised the sellers.

Schoenherr has advised CA Immobilien Anlagen Aktiengesellschaft on the sale of a Bucharest seven-office-building portfolio to Paval Holding. KPMG Legal Toncescu si Asociatii advised Paval Holding.

Nestor Nestor Diculescu Kingston Petersen has successfully represented Romanian electricity distributor ENEL E-Distributie Banat in a tax dispute regarding tax depreciation for transferred fixed assets. 

Wolf Theiss has advised the founders of Fortech on its sale to Global Logic. Tuca Zbarcea & Asociatii reportedly advised Global Logic.

Stratulat Albulescu has advised Reorg on its acquisition of FinDox. O'Melveny & Myers reportedly advised FinDox.

Factoring volumes in Romania have seen a marked increase over the last year, up to EUR 3.68bln in the first half of 2022, according to public sources. While part of this 31.6 % year-on-year surge was driven by inflation rates, local businesses do appear to show a growing appetite for this type of financing product.

Providing insights into Nestor Nestor Disculescu Kingston Petersen’s most active practice areas, Partners Ruxandra Bologa and Gabriela Cacerea took a deep dive into the firm’s Corporate/M&A and Energy and Natural Resources practices.

Energy availability prospects, which have unsurprisingly taken center stage and the interest of governments, investors, and organizations across the world, are the strongly dominating priority in Romania, according to NNDKP Senior Partner Adriana Gaspar.

Starting in February 2023, Partner Alexander Popp will take over as Managing Partner, with Partner Gudrun Stangl continuing in the COO position. Rounding out the Schoenherr Steering Committee are Partners Matei Florea, Thomas Kulnigg, and Franz Urlesberger.

Freshfields Bruckhaus Deringer and Wolf Theiss have advised a consortium of banks on the EUR 800 million revolving ESG-linked credit facility for the Vitesco Technologies Group. Creel Garcia-Cuellar Aiza y Enriquez and Yulchon reportedly advised the banks in Mexico and South Korea, respectively.

Contributed by Nestor Nestor Diculescu Kingston Petersen.

Did You Know that, according to the Activity Rankings function of the CEELMDirect website, Kinstellar Bucharest Managing Partner Victor Constantinescu has worked on 12 reported Real Estate deals in Romania over the past nine years – the most of any lawyer in the country?

Radu Taracila Padurari Retevoescu and Allen & Overy have successfully represented Romania's Zenith Media Communications before the CJEU in a dispute regarding the calculation of competition infringement-related fines. 

On September 9, 2022, CEE Legal Matters reported that PeliPartners had advised WDP on the acquisition of the Arad Business Park logistics center. CEE In-House Matters spoke with Adrian Vitelaru, Chief Operating Officer at WDP Romania, to learn more about the acquisition.

Following in the footsteps of the previously adopted Government Emergency Ordinance no. 27/2022 on the measures applicable to final consumers on the electricity and natural gas market between 1 April 2022 and 31 March 2023, as well as for amending and supplementing certain regulations in the energy sector (GEO 27/2022), as well as the subsequent Government Emergency Ordinance no. 119/2022 (GEO 119/2022), which amended GEO 27/2022 as of 1 September 2022, the Romanian Government has recently adopted a new regulatory act, further amending both GEO 27/2022 and GEO 119/2022, and establishing an even higher degree regulatory control over the energy market, in the form of Government Emergency Ordinance no. 153/2022 for the amendment and supplementation of GEO 27/2022 and GEO 119/2022 (GEO 153/2022), published in the Official Gazette of Romania on 11 November 2022. 

Noerr Partner Joerg Menzer will be the new Secretary-General of the International Bar Association, starting from January 1, 2023.