30 years of extensive experience in a challenging market like Romania’s

Muşat & Asociaţii’s name stands for the highest level of expertise and commitment in assisting clients in business matters. For 30 years, Muşat & Asociaţii has acted for banks and other financial institutions, international businesses, venture capital funds, major Romanian public and private companies and government agencies. We pride ourselves to have been working for many major US and EU corporations, investing or doing business in Romania, most of which are listed in Fortune 500.

Gheorghe Muşat founded Muşat & Asociaţii in the early 1990s as one of the first law firms in Romania, after the fall of the communist regime. Acting in an emerging market and having as clients French, German, Italian, U.K. or U.S. corporations looking for business opportunities, Muşat & Asociaţii became rapidly one of the investors’ “first choice” for legal assistance in Romania. High profile international companies such as Societe Generale, Rhone-Poulenc (currently Sanofi Avensis), Cement Francais, Renault, Bouygues, AT&T, American International Group (A.I.G.), SHELL and British Petroleum chose to work with Muşat & Asociaţiii ever since its founding in 1990.

The start of the privatizations era to strategic investors launched by the Romanian Government in 1995 provided the opportunity for Muşat & Asociaţii to enlarge its portfolio of foreign clients, which represents over 80% of the Firm’s client base.

Muşat & Asociaţii has become one of the most respected names among law firms in Romania, positioning itself as a genuine leader. The firm has been at the forefront of the country’s legal and business development, anticipating the evolving needs of its clients, thus acting as a pioneer in the field. Muşat & Asociaţii provided ground breaking work, by launching new areas of practice and also being involved in the biggest transactions for the local market at that time.

Presently, the firm offers legal support in all areas of business law, including Mergers & Acquisitions / Privatisation, Litigation & Commercial Arbitrations, Banking & Finance, Energy & Natural Resources, IP & Competition, Corporate, Telecommunications & IT, Labour, Fiscal, Capital Markets, Real Estate, Environmental Law, PPP, Healthcare & Pharma, Insolvency & Restructuring, Shipping & Aviation, Insurance.

We pride ourselves with an impressive portfolio of mandates, always setting legal precedents and breaking new ground. This extensive experience in all areas of business law is put to the service of our clients. We are recognized for our focus on constantly developing value added, tailor–made legal services, aimed at enabling our client’s business progress in a legally sound environment. No matter the project assigned by our clients, we will continue to operate in accordance with our business principles of quality, integrity and responsibility. We are committed to use our long-lasting values and breadth of experience to deliver success for the upcoming 30 years and into the future.

Many years have passed since 1995 and every year we’ve accomplished something to show for ourselves

Retained by the Ministry of Economy in connection with the secondary public offering on the Bucharest Stock Exchange for the sale, by the Romanian State, of 15% of the shares held in Transgaz (the National Gas Transmission and Grid Operator), as well as the sale of 15% of the shares held in Transelectrica (the National Electricity Transport and System Operator) with a total transaction value in excess of EUR 109 million (the biggest capital markets transactions of the year). Assisting the Ministry of Transports (in consortium with PWC) in relation to the proposed privatisation of CFR Marfa S.A. to a strategic investor.

Retained by COLAS (the world leading construction company) to provide legal assistance and representation in a complex ICC international arbitration against CNADR (the National Company of Highways and Roads) with a claim value in excess of USD 95 million.

Muşat & Asociații received the “Gold Award” for “Best Central and Eastern Europe Law Firm 2012” granted by International Legal Alliance Summit (Paris 2012).


Selected by the Ministry of Economy to provide legal assistance in underwriting the public offering for the sale of 10% of the share capital in Nuclearelectrica (the national nuclear power producer) on the Bucharest Stock Exchange successfully closed in September 2013, for a transaction in excess of EUR 70,000,000 (the biggest capital market transaction of the year).

Muşat & Asociaţii has secured a fully successful arbitral award by defending ENEL in ICC international arbitral proceedings, with claims amounting to USD 59,000,000.

Muşat & Asociaţii won for the second time the Award „The Law Firm of the Year in Romania” (2013) granted by the International Firm Law Review (IFLR) during the IFLR European Awards ceremony.


Muşat & Asociaţii was selected to provide legal advice to Electrica SA in relation to the performance of the initial public offering (IPO) for the sale on the Bucharest Stock Exchange of the 105% share stake in DFEE Electrica (one of the leading players in the Romanian energy sector) with a transaction value of EUR 440,000,000; this transaction being awarded by the Romanian business media as the biggest capital market transaction ever conducted in Romania.

Advising ENEL on the (attempted) sale of its Romanian subsidiary Enel Muntenia S.A., Enel Banat S.A., Enel Dobrogea S.A. and Enel Energie S.A. Acting as lead Romanian legal adviser to Sterling Resources Ltd. in connection with the transfer of its 65% interest in the deep water of the offshore Block 15 Midia (Midia Deep) to ExxonMobil Exploration and OMV Petrom SA.


Acting as lead local counsel to CRH (Ireland), a leading international player in the building materials industry, with operations in 34 countries worldwide, in relation to its acquisition of Lafarge Romania, a leading local building material producer, (part of a global deal with a total value of EUR 6.5 billion) which was awarded by Ziarul Financiar as the largest transaction of the year in Romania.

Selected as lead legal adviser by the Romanian Government (in consortium with UBS – U.K., Swiss Capital and BT Securities) in connection with the sale of the 46% share stake held by the Romanian State in TELEKOM ROMANIA (former Romtelecom – the largest telecommunication company in Romania) regarded by the Romanian Government as the most challenging privatization of the year.

Assisting/defending ENEL DISTRIBUZIONE SpA (as defendant) in the most complex ICC international arbitral proceedings ever conducted against a Romanian company with claims in excess of EUR 900 million.

Muşat & Asociaţii celebrates 25 years of excellence in the legal profession, being acclaimed by clients, media and peers alike for its professional standards and contribution to the Romanian legal practice.


Our mission is to transform knowledge into value for our clients and their businesses.

Our firm’s values are:

Client service

Our challenge is to be successful by meeting and exceeding the needs of our clients. Hence, every division of our practice is client focused. We foster a team approach to client service through open communication and integrity and strive to bring strategic solutions to the ever-increasing complexity of clients’ business objectives.


Teamwork is the most important ingredient to every success. Our team conducts itself according to the highest standards of ethics and collegiality, sharing knowledge and delivering services at best-practice standards. At Muşat & Asociaţii, we emphasize that excellent results can only be achieved while responding immediately and effectively to clients’ needs.

Legal excellence

We commit ourselves to offering a top-quality client service and maintaining best practice systems. We provide wide ranging legal services mixing together knowledge, skill, loyalty, creativity, responsiveness, perseverance and care in the most reliable and upright manner. We recognize that controlling and constantly seeking ways to improve our value, effectiveness and efficiency are vital for our continuous success.

Visionary management

Sound business growth is an essential part of our management policy. We are confident in our future and constantly aiming at maintaining a solid and professional team basis, diversifying our legal services, identifying new opportunities, nurturing new capabilities and skills. Our future-oriented leadership process is designed to achieve the quality level our clients expect from us.

“Muşat & Asociaţii gained an indisputable reputation of sound professional expertise, in-depth knowledge and efficiency by working with representative clients in every kind of business transactions.”

We take pride in our high-profile portfolio of clients, including international and national privately and publicly owned companies, operating in the main areas of business and industry, government authorities and agencies, major banks, financial institutions and investment funds.

We are dedicated to taking our clients towards their commercial goals by providing innovative legal advice, customized for the clients’ immediate and long term needs. In our daily work we are guided by our commitment to keep clients properly informed and fully abreast with their legal options to enable them to take the soundest business decisions.

We understand that our clients are not only looking for theoretical reviews, but want practical advice that will bring value to their businesses. That is why we deliver practical solutions meant to solve our clients’ issues in a timely manner, offering our clients valuable alternatives to their legal and business problems.

“Client’s interests and confidentiality have always been paramount in Muşat & Asociaţii’s code of professional conduct.”


At Muşat & Asociaţii we praise results that can provide genuine value to our clients. We endeavor to provide seamless services, by being always focused on practical and effective solutions, regardless of the complexity of the problems our clients face every day.

Professional excellence

We are uncompromisingly dedicated to achieving professional excellence in every undertaken task. Our strength comes from a culture in which everyone is encouraged to contribute his best talents. We endeavor to be the firm of choice for the clients when they are confronted with the most challenging topics.


Our lawyers adhere to uncompromising standards of integrity in dealing with all matters they are advising on.


Among our lawyers, commitment towards the client is a unity of purpose and a professional endeavor. Our dedication and commitment towards our clients’ goals enable us to successfully represent clients in the most challenging environments.

MUŞAT & ASOCIAŢII is one of the first law firms founded in Romania immediately after the fall of the communist regime. Having 16 partners and over 100 attorneys and counsellors, MUŞAT & ASOCIAŢII provides advisory services in all areas of business law, including Mergers & Acquisitions, Privatization, Banking & Finance, Energy & Natural Resources, Real Estate & Construction, Competition & Antitrust, Corporate & Commercial Law, Telecommunications, IT & Media, Labour & Employment, Fiscal Law, Capital Markets, Infrastructure & PPP/Public Procurement, Environmental Law, Litigations & Arbitrations, Criminal Law. The team takes advantage of the group extensive experience in complex and various national and international transactions, providing integrated legal services in a multidisciplinary approach.

Renowned as one of the pillars of business law in Romania, MUŞAT & ASOCIAŢII is constantly recommended by foreign legal publications (such as Chambers & Partners, Practical Law Company, International Financial Law Review, Legal 500 etc.) as one of the leading law firms, many of its attorneys being, in their turn, nominated by such publications among the elite of business law in Romania.

MUŞAT & ASOCIAŢII regularly provides legal services to many of the most renowned and valued corporations in Romania, including a third of the Top 100 and half of the Top 500 largest companies, as well as to local public and financial institutions in intricate corporate and financial transactions and complex dispute resolution procedures. The firm’s portfolio comprises over 2,500 clients, most of which are international corporations, such as (to name few of them): Enel SpA, GDF Suez, Colas, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), RBS (Royal Bank of Scotland), ING Real Estate – ING Bank, Fortis Bank, KBC Bank, Raiffeisen Bank, Banca Transilvania, BNP Paribas, China Development Bank, OTP Bank, Eli Lilly, GlaxoSmithKline, Novartis, Roche, Abbott, General Electric, American International Group (AIG), General Electric, General Motors, Orange, Microsoft, Intel, Oracle, Google, Apple, AON, Amazon.com, AT&T, Nokia, Alcatel – Lucent, Telecom Italia, Thyssen Krupp, Generali, AFI Europe, Electrolux, Caterpillar, Monsanto, Deutsche Bahn, SAB Miller, Credit Suisse – Zurich, Credit Suisse Agricole, Grupo Lar, TNT Romania, Siemens, Daimler A.G., Generali Immobilien AG, GE Capital, Servier Pharma, Tigranit etc.

Awards and Achievements:

  • Winner of the award “Law firm of the Year in Romania” (2015), granted by The Lawyer (U.K.)
  • Awarded as “National Law firm of the Year 2013” by International Financial Law Review (IFLR)
  • Winner of the  “Gold Award” for “Best Central and Eastern Europe Law Firm” granted by International Legal Alliance Summit (2012)
  • “National Law Firm of the Year” (2011) by the International Financial Law Review (IFLR)
  • “Romania Law Firm of the Year” (2011) by Chambers Europe Awards for Excellence
  • Top law firm in International Arbitration by Global Arbitration Review (2015)
  • “Client Choice Award in Energy & Natural Resources” (2015 and 2014) by International Law Office
  • “Client Choice Award in Competition” (2013, 2011 and 2010) by International Law Office.

Leading/highly recommended in the following areas of practice:

  • Mergers & Acquisitions (Chambers Global, Legal 500, IFLR 1000)
  • Privatisation & PPP (Legal 500, Chambers Europe)
  • Banking (Chambers Global, Legal 500, IFLR 1000)
  • Project Finance (IFLR 1000)
  • Capital Markets (Chambers Europe, Legal 500, IFLR 1000)
  • Energy & Natural Resources (Legal 500, Chambers Europe)
  • Real Estate & Construction (Legal 500, Chambers Europe)
  • Dispute Resolution (Legal 500, Chambers Global)
  • Restructuring & Insolvency (Chambers Global, IFLR 1000)
  • IT, Telecoms & Media (Legal 500)
  • Competition/Antitrust (Chambers Europe)
  • Intellectual Property (Chambers Europe)
  • Labour & Employee Benefits (Chambers Europe)
  • Tax (Chambers Europe)



Clients about Muşat & Asociaţii 
"This team is outstanding in all respects, and will never let you down. The lawyers put in the effort and hours to get the best results for their clients." (Chambers Europe 2017)

"This team offers good solutions and the follow-up from the lawyers is perfect, as they really know the area of law." (Chambers Europe 2017)

"We appreciate their reliability, their innovative approach and their responsiveness, together with their proactive attitude." (Chambers Europe 2016)

"This team has a determination to provide high-quality client service." (Chambers Europe 2016)

"A serious, capable and fully committed practice." (Chambers Europe 2015)

"This firm has the capacity to assign large teams to each project, the response times are always very good, regardless of the complexity or urgency of the matter. The lawyers are trustworthy and handle all matters in a very professional way." (Chambers Europe 2015)

‘Top-quality firm’ Muşat & Asociaţii has a longstanding practice, acting for major national and multinational banks and companies. (Legal 500, 2015)

“All professionals involved were aiming at a common goal, thanks also to their precise and professional advice the complex transaction has been closed for the satisfaction of all parties involved.” - International Financial Law Review 1000 (IFLR 1000), 2015

“Muşat (…) has been immensely helpful in understanding and assessing various risks in respect of the Romanian legal and regulatory environment relating to solar power projects.” - International Financial Law Review 1000 (IFLR 1000), 2015

Muşat & Asociaţii’s ‘high-performance lawyers’ are routinely involved in large projects and have ‘exceptional’ public sector expertise. (Legal 500, 2015)

An ‘exceptionally professional firm’, Muşat & Asociaţii stands out for its expertise in energy sector M&A and finance. (Legal 500, 2015)

Muşat & Asociaţii fields ‘forward-thinking lawyers with tremendous resources’, regularly acts for state-owned companies, including during privatisations through M&A. (Legal 500, 2015)

Muşat & Asociaţii’s large dispute resolution team is involved in a wide range of litigation cases and has a growing alternative dispute resolution practice. (Legal 500, 2015)

"This firm has an extensive team of well-trained litigators who proficiently find solutions for every sensitive legal issue. You can always rely on the availability and competence of the team to handle complex cases." (Chambers Europe 2015)

Muşat & Asociaţii team is described as "disciplined, well organised and reliable." (Chambers Europe 2015)

"Muşat lawyers didn't stand on ceremony, but rolled their sleeves up and got the work done. Very solution-focused." (Chambers Europe 2015)

"This practice's strengths are its proactive approach and deep knowledge of the market." (Chambers Europe 2015)

"This team carries out work in a committed way, providing a good picture of the risks and barriers for each project. Very familiar with what foreign investors are looking for." (Chambers Europe 2015)

"The people here aren't like typical lawyers who will only tell you about risks - they have always a business-oriented approach."(...) "These lawyers turn their intimate knowledge into practical and easily comprehensible advice." (Chambers Europe 2015)

“We expect fast reactions and action from our advisers, and Muşat doesn't disappoint.” (Chambers Europe, 2014)

“The team understands the importance of providing timely, accurate and business-oriented legal advice.”( Chambers Europe, 2014)

“Excellent on all fronts”, Muşat & Asociaţii is highly rated and has a lengthy track record. (Legal 500, 2014)

Muşat & Asociaţii`s “highly competent, serious and reliable” lawyers provide “client-oriented advice and have extensive experience”. (Legal 500, 2014)

Muşat & Asociaţii provides “fast, concise and well-prepared” advice to a number of high-profile clients. (Legal 500, 2014)

“In our international banking practice ... for China Development Bank, I come across corporate lawyers in about three dozen mostly developing world countries a year. With a large data set of experiences to compare Muşat to, I am happy to state that they are among the two standout team I`ve had the pleasure of working with in the last year”. - International Financial Law Review 1000 (IFLR 1000), 2014

“It was very competent and helpful in an extremely time sensitive and stressful situation”, one client says. - International Financial Law Review 1000 (IFLR 1000), 2014

“The firm is well organized and can provide the client with great assistance and expertise, no matter which lawyer you are dealing with.” (Chambers Europe, 2013)

“I can really recommend this team. It is available and responsive.” (Chambers Europe, 2013)

“Muşat know their way around the local market - this is something you need in Romania.” “The firm has good connections; they know the right people to talk to.” (Chambers Europe, 2013)

“It is a serious law firm known by the reputation it has built”, one client says. “It started with the privatizations and then in came the big [international] law firms and it continuously developed in the market.” - International Financial Law Review 1000 (IFLR 1000), 2013

“Muşat & Asociaţii is a Romanian brand, which has developed itself a formidable reputation on the market.” - International Financial Law Review 1000 (IFLR 1000), 2012

“The team is very skilled in negotiations, knowing precisely what to say and how to get the best results. Without a doubt, these lawyers command the market with flair and natural intuition, and deliver top-notch legal services.” (Chambers Europe, 2012)

“They are a top law firm in Romania, having been involved in major transactions over the years, they have gained excellent commercial skills and our experience with them has always been flawless.” - International Financial Law Review 1000 (IFLR 1000), 2012

“Working with Muşat & Asociaţii has constantly been very satisfying; they know our business very well, have great command of the legal matters and understand perfectly our requirements.” - International Financial Law Review 1000 (IFLR 1000), 2012

“Proactive, business-oriented, giving good support. Due to its prompt, innovative and pragmatic advice, we always feel safe in its hands”, sources say. (Chambers & Partners, 2012)

“We have a long history of over ten years in working with Muşat & Asociaţii. We decided to choose them due to their high reputation as a full service law firm, with a strong portfolio of complex projects, and we have continued to collaborate since then as they have been true to their name.” - International Financial Law Review 1000 (IFLR 1000), 2012

Muşat & Asociaţii is “very experienced” in high-profile transactions. (Legal 500, 2012)

“Muşat & Asociaţii is one of the best Romanian law firms we have had the chance to collaborate with. They possess an impressive knowledge of the legal sector, being very practical and dedicated. I've noticed their business awareness, being able to combine legal matters with business related issues.” - International Financial Law Review 1000 (IFLR 1000), 2012

“We feel comfortable with Muşat's reliable support and capacity to solve legal issues in a smooth and clear manner.” (Chambers Europe, 2012)

“Muşat & Asociaţii exceeded our expectations every time we requested their advice. They are one of the few full service law firms in Romania, thus having the capability and knowledge to provide integrated legal advice.” - International Financial Law Review 1000 (IFLR 1000), 2012

Muşat & Asociaţii has “a real understanding of client needs” and is “timely and responsive”. (Legal 500, 2012)

“The client approach is flawless, the responsiveness is prompt and accurate, and the expertise is very extensive, covering a full range of legal practices.” (Chambers & Partners, 2012)

“We rate our overall experience with the firm as excellent, as we have been working with them for more than ten years and they have been very professional every time we have requested their advice. They stand out for the full spectrum of legal services they are providing at the highest level- International Financial Law Review 1000 (IFLR 1000), 2012

“We value the firm's ability to understand the issues at hand, and its high-quality advice, which led to the successful resolution of our problems.” (Chambers Europe, 2012)

Muşat & Asociaţii’s team shows “deep technical knowledge” and is “permanently available for further discussions or clarifying matters”. (Legal 500, 2012)

“Muşat was very hard working. They were very knowledgeable, able and innovative. Even in deadlocks they called me personally and wanted to make sure we were clear on the deal.” - International Financial Law Review 1000 (IFLR 1000), 2012

“We choose Muşat & Asociaţii because of its impeccable service. Prompt, innovative and practical, it always suggests several solutions to fit our business strategy.” (Chambers & Partners 2011)

The firm combines “quality advice” with “experience, knowledge, vision and responsiveness.” (Chambers & Partners, 2011)

Muşat & Asociaţii offers clients “tremendous expertise” and is praised for its “great professionalism” and “attention to detail”. (Legal 500, 2011)

Clients are impressed by the team of this “incredibly responsive” firm, noting that “it seems like someone is available 24 hours a day”. (Chambers & Partners, 2011)

“We worked with other law firms, but we felt that Muşat were the best”. - International Financial Law Review 1000 (IFLR 1000), 2011

Its “innovative and practical advice” is a particular draw. We praise the team for “going out of its way to provide a truly excellent service.” ( Chambers & Partners 2011)

“They were innovative and commercially minded throughout”. - International Financial Law Review 1000 (IFLR 1000), 2011

“[…] profound legal knowledge and practical way of solving problems”. (Legal 500, 2011)

“[…] top-notch advice and impeccable drafting under the tightest time pressure”. (Chambers & Partners, 2011)

“This firm is unanimously recognised for the exceptional quality of its work.” (Chambers & Partners, 2010)

“We are always on the right track and well looked after. We are regularly updated and consulted on all questions.” (Chambers & Partners, 2010)

“The group is praised for its prompt and practical advice. It regularly works in conjunction with several other departments, an asset that is highly valued by interviewees”. (Chambers & Partners, 2010)

“This firm is involved in some of the biggest cases, which are often the first of their kind.”(Chambers & Partners 2009)

Clients applaud the lawyers “innovative preparation of the legal strategy,[…] the team taking time to consider all possible courses of action”. Also noted was the lawyers’ “timely and responsive style”, with interviewees noting that “they answer all enquiries promptly and concisely.” ( Legal 500, 2009)

“We have benefited from the team’s advice at every stage of the transaction and are very satisfied with the results.” (Chambers & Partners, 2009)

“Great work, delivered in a timely and professional way.” (Legal 500, 2009)

The firm is “professional, with a great team of lawyers displaying depth of knowledge”. (Legal 500, 2009)

Clients benefit from the clarity of advice provided and note the team’s impressive English language skills. (Chambers & Partners 2009)

The team is admired for its regional knowledge and personalised approach. (Chambers & Partners 2009)

Clients believe the firm to be “professional, with a great team of lawyers”. (Legal 500, 2009)

The “service they provide is excellent and we always feel confident that what we ask from them will be delivered.” (Legal 500, 2008)  
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