Senior Partner

Areas of practice: Mergers & Acquisitions/Privatisation, Banking/Finance & Capital Markets, Corporate & Commercial Law, Dispute Resolution, Criminal Law & Corporate Crime, Insurance


Phone: +40 21 202 59 01

Fax:  +40 21 223 04 95



Address: 43 Aviatorilor Boulevard, 1st District, Code 011853, Bucharest, Romania

Apart from heading the management committee and overseeing the direction of the firm, Mr Muşat is constantly involved in the practice. He has been active for over 38 years and counts numerous successfully settled court cases heard before the Supreme Court of Justice and international arbitral tribunals.

Mr Muşat has a wealth of experience of foreign investors’ issues in Romania, and a profound understanding of the market, as well as on the legal and business trends. He is one of the ‘market builders’ of the business law practice in Romania, being involved as team leader in a variety of high-profile merger and acquisition transactions, as well as in most of the major privatization deals in Romania, acting either on the side of the Romanian Government or on the private buyers’ side, most of them multinational corporations or large local companies. He gathered unparalleled experience in Mergers and Acquisitions/Privatisation, Banking, Project and Corporate Finance, and Dispute Resolution (international and domestic arbitration included). Mr Muşat is a frequent lecturer on restructuring, privatisation and mergers and acquisitions matters, as well as on other issues regarding doing business and foreign investments in Romania.

Career & Qualifications


  • Law degree, University of Bucharest


  • Legal practice experience: 38 years
  • Experience within Muşat & Asociaţii: 32 years
  • Senior Partner, 2022 – to date
  • Managing Partner, 1990 – 2021
  • Individual practitioner, 1983-1990


  • English, French and Romanian

Relevant Experience

  • Electrica S.A., in connection with the initial public offering (IPO) of 105% shares and its admission to trading on the Bucharest Stock Exchange, as well as advising on the issuance of GDRs on newly issued shares. The issuance has been successfully listed on the Bucharest Stock Exchange and GDRs listed and traded on the London Stock Exchange (transaction value: EUR 440,000,000).
  • CRH (Ireland) (a leading international player in the building materials industry, with operations in 34 countries worldwide), in connection with the acquisition of the largest local construction company, part of a global deal with a total value of EUR 6.5 billion.
  • Enel (one of the largest European energy groups), in two ICC arbitrations concerning contractual performance (with a claim value in excess of EUR 850,000,000).
  • Damen Shipyards Group, in connection with the successful acquisition of the largest Romanian shipyard with a transaction value in excess of EUR 500 million, and subsequent joint venture with the Romanian State.
  • Penta Investments (one of the top Central European investment funds), in connection with the successful acquisition of A&D Pharma, a leading Romanian pharma chain (transaction volume in excess of EUR 300 million).
  • Termoelectrica (the largest Romanian electricity producer ), during the voluntary winding-up as the last stage of its reorganization. We act in joint venture with the liquidator of the company in drawing up the assets realization strategy and plan, legal due diligence over the assets and addressing on-going concerns pertaining to the company and recovery of debts.
  • Enel S.p.A. on the privatization project estimated at EUR 4 billion, initiated by the Romanian Ministry of Economy for the development of two important Nuclear Power Plants.
  • A leading international infrastructure construction contractor in relation to its participation to the tender process organized by the Romanian State for the construction and operation of a high-power reverse pumped storage facility.
  • A foreign investor (as claimant) against the Romanian State in relation to a complex ICSID arbitration, with aggregate claims of over EUR 400,000,000, as a result of the infringement by the Romanian State of the Bilateral Investment agreement between Romania and Sweden, which provides, inter alia, for fair and equitable treatment of the foreign investors, and the obligation not to expropriate investments.
  • Enel (Italy), in connection with the EUR 820,000,000 successful acquisition of the largest electricity distribution company in Romania.
  • Rompetrol Group N.V., in connection with the EUR 90,000,000 acquisition of the remaining free float of a subsidiary company active in natural resources field, so far the most successful mandatory public offer ever conducted on the Bucharest Stock Exchange.
  • Thyssenkrupp (one of the world’s largest steel producers), in relation to one of the most complex international litigation cases before Romanian courts (claim value: USD 50,000,000). The Firm has successfully acted for the client at various courts of law, including the Supreme Court of Justice, which has irrevocably ruled in the favor of our client (final decision passed on March 2012).
  • The Romanian Government on the restructuring process of the Romanian Post Office.
  • Enel, on the acquisition of several energy companies owned by the Romanian State among which a 800 MW Hard Coal Capacity located in Brăila, involving investment in excess of EUR 1,000,000,000.
  • Lead legal counsel for a major Romanian commercial bank in connection with the EUR 100,000,000 sale of the majority stake held in a leading insurance company.
  • PPF Partners (one of the top Central European investment funds), in connection with the successful acquisitions of a local private gas supplier and distributor in two transactions exceeding EUR 62,000,000.
  • Enel S.p.A., in the successful restructuring of its Romanian subsidiaries, in one of the most extensive unbundling of its supply and distribution divisions in Romania.
  • Successfully advising The Romanian Authorities in connection with the public offering on the Bucharest Stock Exchange for the sale by the Romanian State of 15% of the share held in Transgaz (the National Gas Transmission and Grid Operator) as well for the sale of 100% shares held in Electrica S.A. (this leading State – owned energy producer), both transactions being successfully completed for a transaction value in excess of EUR 400 million.
  • A leading multinational communications and information technology company in connection with a PPP project with Cluj Municipality related to its mobile phones manufacturing plant within an industrial park located in Cluj County, regarded as one of the most complex integrated greenfield project developed in Romania to date.


  • Romanian Bar Association (Admitted 1983)
  • The Association of Former Political Prisoners of the Communism Regime (1988)


  • Expert Consultant (IFLR 1000, 30th edition)
  • Expert Consultant (IFLR 1000, 2020)
  • Leading Lawyer (IFLR 1000, 2019)
  • Leading Lawyer (IFLR 1000, 2018)
  • Eminent Practitioner (Chambers Europe – 2017)
  • Most influential lawyer (TIMES Legal Innovation – 2017)
  • Leading lawyer – Litigation & Arbitration (Legal 500 – 2017)
  • Leading lawyer – Mergers & Acquisitions / Privatisation (International Financial Law Review/IFLR 1000 – 2015)
  • Leading individual – Mergers & Acquisitions / Privatisation (Legal 500, 2014)
  • Highly recommended – Mergers & Acquisitions / Privatisation (Chambers Europe, 2015)
  • Highly recommended – Mergers & Acquisitions / Privatisation (Chambers Europe, 2014, Chambers Global, 2014)
  • Highly recommended – Mergers & Acquisitions / Privatisation (Chambers Europe, 2013, Chambers Global, 2013)
  • Highly recommended – Mergers & Acquisitions / Privatisation (Chambers Europe, 2012, Chambers Global, 2012)


  • “Gheorghe Muşat is a leading figure in Romania’s legal market.” (Legal 500, 2020)
  • “Gheorghe Musat is a great lawyer, one of the builders of the practice of business law in Romania, he is a real team leader, a strong personality and highly respected in the market.” (Legal 500, 2020)
  • Gheorghe Muşat “has a wealth of market knowledge and expertise in complex transactions”. (Legal 500, 2017)
  • Gheorghe Mușat retains his reputation as a “strong figure, with tremendous experience of M&A deals” acquired over decades of wide-ranging activity in the Romanian transactional market. Source: Chambers Europe, 2015
  • He has a lot of insight and is someone we can rely on 24/7 for great results.” Source: Chambers Global, 2014
  • Impressive M&A expert” Gheorghe Muşat heads the M&A team. Source: Legal 500, 2014
  • “Gheorghe Muşat is a leading figure in the Romanian market”, as he heads the firm’s M&A practice. Source: IFLR 1000, 2013
  • Gheorghe Muşat heads the department and is “highly respected in the market for the significant experience” he can bring to complex mandates. Source: Chambers Global, 2013
  • Managing partner Gheorghe Muşat is “a real leader with an impressive personality.” Source: Legal 500, 2013
  • George Muşat is “a real team leader”. Source: Legal 500, 2013
  • “Gheorghe Muşat has over 30 years’ experience and is praised as an excellent team coordinator” by clients. Source: Chambers Global, 2011
  • “Gheorghe Muşat […] has been described by a competitor as «a legal powerhouse; a man who has been instrumental in creating the Romanian legal market”. Source: IFLR 1000, 2010
  • “Gheorghe Muşat is well established and noted for his dedication to key clients on major M&A deals”. Source: Chambers Global, 2010
  • “Clients refer to senior partner Gheorghe Muşat as «the Romanian kingpin of M&A transactions”. Source: Legal 500, 2009
  • “Clients note that «you would be hard pushed to find a lawyer who knows more about privatisation in Romania than Gheorghe Muşat”. Source: Legal 500, 2009
  • “Sources value his «many years of experience”, explaining that «with him you feel completely confident that you’re in safe hands”. Source: Chambers Europe, 2009
  • “Gheorghe Muşat is particularly well regarded. «He is a great lawyer; has built up a solid practice. He has taught us a lot”, said one rival lawyer”. Source IFLR 1000, 2008
  • “Gheorghe Muşat is described as more active than many lawyers of his age, and he has acted on a variety of outstanding deals in recent months”. Source: Chambers Europe, 2008



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