|1990||Gheorghe Muşat (acting litigation lawyer since 1983) starts his activity as a business legal adviser alongside two younger lawyers under the brand name “Muşat & Associates”; by the end of that year, his “boutique” gathered eight lawyers, most of them young practitioners, being regarded as one of the most dynamic business law practices on the Romanian legal market.|
|1991 –1995||Advising a large portfolio of high profile foreign corporations, such as Societe Generale, Rhone-Poulenc (currently Sanofi Aventis), Cement Francais, Renault, Bouygues, Credit Lyonnais, American International Group (A.I.G.), AT&T, Standard Oil, British Petroleum etc. on their investments & business ventures in Romania. Upon the enactment of Law no. 51/1995 regarding the legal profession, Muşat & Asociații was registered as a legal partnership, counting four partners and sixteen associates.|
|1996||The launch of the first edition of the legal guide “Doing Business in Romania”, having now reached its eleventh release.
Acting as lead legal advisor to SHELL (U.K.) and SHELL EXPLORATION ROMANIA in connection with the implementation of the first oil exploration agreement concluded by Romania with a foreign investor as well as with regard to other SHELL’s investments in Romania. Advising the Romanian Government on drafting the new OIL Law in line with the international standards with a view to encourage foreign investments in the Romanian oil industry.
|1997||Muşat & Asociații acted as lead Romanian legal counsel for Glaxo Smithkline Beecham regarding the successful acquisition of Europharm Group, the first high profile private transaction in Romania (valued at: »100 million EUR).
Retained by the Romanian Government as lead legal advisor (in consortium with Clifford Chance – U.K.) in relation to the attempted privatization (first attempt) of S.N. PETROM S.A. to a strategic investor. Acting for Petromin S.A., Navrom S.A. and Romline S.A. (the core shipping companies of Romania) in a most complex shipping dispute with Klaveness (Norway) and Moira (Greece) targeting the recovery by the Romanian State of several large mineral bulk carrier vessels initially transferred to offshore companies.
|1998||Acting as lead Romanian legal counsel to GE Capital in connection with the acquisition of Banc Post, the first privatization of a Romanian bank as well as in connection with the attempted acquisition of the State owned bank BRD. Assisting Sumerbank (Turkey) and Akmaya (a leading Turkish oil corporation) in relation to the acquisition of S.C. PETROMIDIA S.A. (the largest Romanian oil refinery).
Selected by the Romanian Government as lead legal advisor (in consortium with Deutsche Bank and ABN AMRO Bank) in relation to the proposed privatization of TAROM (the national airline company of Romania).
|1999||Legal assistance to the Romanian Privatization Authority (FPS), in connection with the sale of Banca Agricola to Raiffeisen Bank, within a transaction which was highly acclaimed by the World Bank and Romanian Government as the most successful privatization of the year.
Selected by the World Bank as lead legal advisor (in consortium with ROTHSCHILD and Clifford Chance – U.K.) for the implementation of Bancorex bad loans restructuring plan as a first step towards Bancorex privatization. Further assisting World Bank and the Romanian Government on the transferring process of the bad debt portfolio from Bancorex to AVAB (newly created State owned special entity dealing with banking assets).
|2000||Muşat & Asociații advises Michelin on the takeover of the Tofan Grup (including its subsidiaries Victoria Floresti and Silvania Zalau), regarded by the business community and the local business media as the biggest private transaction of the year.
Assisting EBRD (European Bank for Reconstruction) and IFC (International Finance Corporation) in connection with their investments and financing facilities provided to various Romanian state owned and private companies. Advising the Ministry of Finance regarding the Debt Equity Swap Project initiated by the Government for the settlement of the State owned company’s debts towards State Budget.
|2001||Acting as lead legal counsel to Arcelor Mittal (former Mittal Steel) in connection with the EUR 800,000,000 successful acquisition of Sidex Galati (the largest Eastern European steel producer), which was awarded as the largest privatization/acquisition of the year.
Advising EUROCOPTER (France) in relation to its aviation investments in Romania and related joint-venture agreements with the Romanian aviation entities.
|2002||Advising the Romanian Government in connection with the successful privatisation of ALRO S.A. – Slatina and Alprom S.A., the leading national aluminium producers (transaction completed under a World Bank program).
Acting for SUEZ LYONNAIS des EAUX (a leading French utilities company) in relation to the joint venture with Bucharest Municipality for CRIVINA PROJECT and respectively with Timisoara Municipality for ACQUATIM PROJECT.
Muşat & Asociații changes its headquarters to 43 Aviatorilor Blvd, a modern A-class building facility, specifically designed for a team of over 100 lawyers and another 100 support staff.
|2003||Acting as legal advisers of Arcelor Mittal (former Mittal Steel) in connection with the acquisition of the majority stake held by the Romanian State in three national steel producers, namely Siderurgica S.A. – Hunedoara, Petrotub S.A. – Roman and Tepro S.A. – Iasi (the second largest acquisition of the year).
Advising CORA (the leading French retailer) on various acquisitions and project investments in relation to the development of a large retail network in Romania.
|2004||Assisting SBS Broadcasting on the successful acquisition of Prima TV, as well as on the acquisition of the Romanian leading FM radio stations: Kiss FM, Radio Star, Canet Radio, TV Klumea etc., so far the biggest media acquisitions ever conducted in Romania.
Acting as lead legal advisor for OCCIDENTAL OIL & GAS CORPORATION (a leading U.S. oil corporation) in connection with attempted acquisition of the majority stake held by the Romanian State in S.N. PETROM S.A.
|2005||Advising Enel (Italy) in connection with the successful acquisition of Electrica Dobrogea and Electrica Banat, the first privatization of electricity distribution companies in Romania. Muşat & Asociații successfully settles the first ground breaking investment arbitration (with claims of over EUR 350,000,000) representing the Romanian Government against Noble Ventures U.S. before The International Center for the Settlement of Investment Disputes (ICSID).|
|2006||Advising Sider Sipe S.A. (Italy) in relation to the EUR 120,000,000 sale of the majority stake in Ductil Steel Buzau SA to a leading European investor (the second largest acquisition of the year).
Assisting KBC Bank (Belgium) in connection with the EUR 75,000,000 acquisitions of Romstal Leasing IFN S.A. and of Swiss Capital S.A. as well as in connection with the attempted acquisition of Banca Comerciala Romana – BCR (the biggest privatization ever conducted in Romania).
Muşat & Asociații sets up two affiliated entities: Muşat & Asociații Restructuring / Insolvency and Muşat & Asociații Intellectual Property.
|2007||Muşat & Asociații assists Enel (Italy) in connection with the EUR 820,000,000 acquisition of Electrica Muntenia Sud (the leading Romanian electricity distribution company) which was qualified by the Romanian Privatization Authority and the mass-media as the third largest privatization ever conducted in Romania. Retained by AFI Europe as lead local adviser in respect of the EUR 78,000,000 successful acquisition of New Century Holding in Cotroceni Park (the company developing AFI Palace Cotroceni, with an investment value in excess of EUR 300,000,000).|
|2008||Advising PPF Partners (a major pan-European investment fund) in connection with the acquisition of S.C. Continental S.A. and several other private companies in Romania, amounting to over EUR 200,000,000, as well as in connection with the EUR 62,000,000 successful acquisition of GAZ SUD SA. Acting as lead legal adviser for NOKIA CORPORATION (Finland) in relation to the implementation of “Jucu Greenfield project” regarding the relocation of Nokia’s production facility from Germany to Romania (awarded by the business media as “largest Greenfield investment of the year”).|
|2009||Assisting Banca Transilvania in connection with the EUR 100,000,000 sale of the majority stake held in BT Asigurari to Groupama (France) which was awarded by the business local media as the biggest transaction of the year in the insurance industry. Retained by EBRD and the European Investment Bank (E.I.B.) as lead local counsel in connection with the EUR 700 million loan facility granted to the Municipality of Bucharest and Metrorex for infrastructure rehabilitation and urban development. Muşat & Asociații establishes its first territorial office in Cluj Napoca.Muşat & Asociații becomes the exclusive member of TAGLaw in Romania, a worldwide alliance of independent law firms with more than 150 member firms based in nearly 90 countries, aims to provide a full range of legal services to clients all over the world.|
|2010||Assisting Rompetrol Group NV in connection with the EUR 90,000,000 acquisition of the remaining free float of Rompetrol Rafinare S.A., so far the most successful mandatory public offering of the year conducted on the Bucharest Stock Exchange.Acting as legal advisers of the US private equity group Platinum Equity LLC with regard to three separate multimillion transactions for the sale of three factories producing spare parts for Volkswagen, Audi and DAF. Muşat & Asociații celebrates 20 years of excellence, being acclaimed by clients, media and peers alike for its standards and contribution to the Romanian legal practice.|
|2011||Retained by the Romanian Government (the Ministry of Economy) as lead legal advisor in connection with the selection of investors for the EUR 1.3 billion construction of Tarnita-Lapustesti Hydropower Plant, with a forecasted installed capacity of 1,000 MW.Successfully acting for Thyssenkrupp in relation to one of the most complex and long lasting international litigation before Romanian courts (claim value: USD 50,000,000), arising from the sale and purchase of steel during the communist political regime. Muşat & Asociații is awarded the prestigious “National Law Firm of the Year” (2011) award, by the International Financial Law Review (IFLR) as well as with the “Romania Law Firm of the Year” award, by the renowned legal guide Chambers Europe (Chambers Awards for Excellence 2011).|
|2012||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).|
|2013||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.|
|2014||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.|
|2015||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.
|2016||Advising CIECH S.A. and its local subsidiary Ciech Soda Romania S.A., one of the largest firms in the chemical sector in Europe, on matters of Romanian law pertaining to approximately EUR 373 million bank credit facility financing for Ciech S.A. to refinance its existing debt, consisting of high yield bonds (with a value of EUR 245 million), revolving credit facilities and financing of working capital needs.
Assisting PREMIER CAPITAL PLC in the acquisition of McDonald’s local operations, a transaction that involved the team in all the stages of the acquisition process – both in negotiations conducted by Premier Capital PLC with McDonald’s, and those with the bank financing a part of the acquisition price, BRD-Groupe Société Générale.
|2017||Assisting Emerson (a world leader in the field of production and technology) in connection with the acquisition of Leroy –Somer and Control Techniques divisions by Nidec Corporation, a transaction value of approximately USD 1.2 billion.
Assisting PENTA INVESTMENTS (a leading European pharma distribution company) in connection with the EUR 300 million successful acquisition of A&D PHARMA (the leading pharma distribution in Romania) which was awarded by the business media as the largest private transaction of the year.
|2018||Assisted Damen Shipyards Group ,in connection with the acquisition from Daewoo Shipbuilding & Marine Engineering of the biggest shipyards in Romania with a total transaction value in excess of EUR 800 million. The mandate envisaged unique characteristics, involving negotiations with both the selling company and the other shareholder of the target, a Romanian state owned company.
Successfully advised Spectrum Brands Unit , a $ 5 billion consumer products company, in connection with the $ 2 billion sale of its global battery and portable lightning business to Energizer Holding Inc., one of the world’s largest manufacturers of primary batteries and portable lighting products. The agreement was completed in early January 2019.