Mergers & Acquisitions

A selection of our recent relevant mandates includes advising:

• A leading international player in the construction industry in relation to the acquisitions of all the assets and companies of the largest Romanian corporation in the construction sector.
• The Romanian Government on the sale of one of the top three telecom operators in Romania. Our legal assistance extends throughout the entire sale process, including a due diligence exercise on the target, drafting the sale strategy and performing all other actions necessary to carry out the deal to a successful end.
• A large international infrastructure construction corporation 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 leading independent private equity investment firm, in connection with the potential acquisition of 70% interest in a leading Spanish construction company and indirect acquisition of the latter’s subsidiaries.
• A leading international holding and financing company regarding the prospective sales of its participations in its Romanian subsidiaries.
• A worldwide energy company engaged in the exploration, development and production of crude oil and natural gas in selected areas of the world, on the successful transfer of its 65% participating interest in the deep water area of Block 15 Midia in the Romanian Black Sea to the world’s largest international publicly traded oil and gas company and to the largest integrated oil and gas group in South-Eastern Europe.
• A leading State-owned utility supplier, as part of a consortium, throughout the stages of preparing and conducting the privatization process of the electricity supply subsidiary of one of the most important players in the distribution, electric power supply and energetic services sectors in Romania.

• The leading Italian electricity and gas utility provider in connection with the EUR 820,000,000 successful acquisition of the largest electricity distribution company in Romania, including undertaking an extensive legal due diligence process and the preparation of the position papers, binding offer and final binding offer.
• The Romanian authorities, as part of a consortium, in relation to the share capital increase of a leading State-owned energy producer in Romania, through the issuance of new shares and the sale of a 51% stake to a foreign investor.
• A developer and manufacturer of freight wagons and bogies, owned by a strategic German investor, in connection with the acquisition of three Romanian companies (the largest railway wagon producers in Romania), in total value of approximately EUR 150,000,000.
• The leading Italian electricity and gas utility company on the acquisition of several energy companies owned by the Romanian State, among which an 800 MW hard coal facility located in Braila, involving investments in excess of EUR 1,000,000,000.
• The Government of Romania, as part of a consortium, in connection with the attempted privatisation of the National Freight Railway Company, which holds 60.8% of the total transported goods in Romania.
• A leading Italian energy utility company in connection with the successful acquisition of five photovoltaic renewable energy projects, including an extensive due diligence, negotiating the structure of the transaction and preparing and negotiating the transaction documents.
• A leading State-owned energy producer in Romania in relation to the absorption merger of one of the largest district heating and electricity producers in the country.
• The leading Italian electricity and gas utility company, on the EUR 112,000,000 successful privatisation of two subsidiaries of one of the most important players in the distribution, electric power supply and energetic services sectors in Romania.
• One of the world’s leading brewers, operating across five continents, in relation to the successful disposal of water assets, installations and equipment.
• An important US-German based investment fund in relation to the acquisition of several photovoltaic projects in Romania, with an overall installed capacity of 500 MW.
• One of the top international distributors and suppliers of natural gas in connection with the acquisition, development and construction of a large wind power plant in Romania including in relation to structuring and negotiating the acquisition of the relevant equipment, sale purchase agreements, EPC and O&M contracts.
• The electricity trading and supply branch of the leading Italian energy utility company, during the full-scope acquisition of seven green energy projects in the field of wind generation, with a total installed capacity of 130 MW.

• One of the top EPC services providers in the energy sector in completing the sale of a minority stake through an outright sale combined with a share capital increase, with a total value of EUR 70,000,000.
• A major Spanish photovoltaic developer and provider of solar panels on the acquisition of two solar power plants owned by a local businessman, with an installed capacity of 130 MW, the total value of the project exceeding EUR 200,000,000.
• A leading Spanish developer of renewable energy projects with respect to the development and sale of a wind farm with an installed capacity of approximately 250 MW, located in Dobrogea.
• A major pan-European investment fund in connection with the acquisition of several private companies in Romania, amounting to over EUR 200,000,000.
• One of the top Italian industrial players in relation to the EUR 120,000,000 sale of the majority stake in one of the main Romanian producers of wire and wire products to a leading European investor.
• The second largest bank in the Romanian banking sector in connection with the EUR 100,000,000 sale of the majority stake held in its insurance affiliated company to a leading French insurance company, bank and financial services provider.
• The world’s second-largest soft-drinks manufacturer, seller and distributor in respect of the USD 98,000,000 acquisition of a Romanian bottling plant selling and distributing PepsiCo products throughout the country.
• One of the leading local FMCG producers in connection with the sale of its seeds and nuts activity to the German producer of popular snack brands Chio Chips, Funny-Frisch, Pom-Bär and Goldfischli.
• Israel-based leading car dealership service provider in connection with the acquisition of two entities part of the Romanian importer of Italian car brands and the local partner of the Japanese brand Infinity.
• A leading Belgian financial group in connection with the EUR 75,000,000 successful acquisition of a leading Romanian independent leasing company, and of the largest securities brokerage and asset management company.
• One of the leading global steel producers on the acquisition of the largest Romanian steel producer, further to a USD 500,000,000
• One of the leading global steel producers in connection with the acquisition of three companies acting in the steel industry from the Romanian authorities.
• A top US private equity group with regard to three separate confidential multimillion transactions involving three plants owned by its local affiliate in Romania, factories producing spare parts for Volkswagen, Audi and DAF.
• A leading international manufacturer and distributor of roof construction and system solutions for improved indoor climate listed on the Nasdaq Stock Exchange in connection with the acquisition of the Romanian subsidiaries of a leading Slovak metal roofing and wall cladding manufacturer in a transaction totalling EUR 24,500,000.

• A Swiss-based leading pharmaceuticals and medical diagnosis player in connection with the approximately EUR 17,500,000 successful acquisition of several assets of one of the most important companies on the Romanian diagnostics and diabetes care market.
• The top Swiss electricity distribution and supply utility company with respect to the acquisition of one of the most important local private electricity traders.
• The leading Italian electricity and gas utility supplier in connection with the acquisition of a wind power plant of 200 MW (currently in operation).
• A major Israel-based investment fund in respect of the EUR 78,000,000 successful acquisition (buy-out) of the remaining 50% share quota held by an US investment group in a national shopping center, consisting of a shopping mall and five stand-alone office buildings, the value of the investment exceeding EUR 300,000,000.
• A top Israeli bank in relation to the USD 41,700,000 acquisition of a private commercial bank. We advised on the sale-purchase agreement, real estate, competition issues, as well as on capital markets issues in relation to delisting the target’s shares from the Bucharest Stock Exchange.
• The leading risk management and insurance brokerage firm in relation to the acquisition of the leading insurance broker in Romania.
• The second largest Hungarian fixed-line telecommunications company in relation to the USD 30,000,000 acquisition of two Internet and Telecom related operating subsidiaries of an important internet service provider in Central and Eastern Europe.
• One of the main European broadcasting groups in connection with the acquisition of a TV channel from a local company, as well as with the EUR 22,500,000 acquisition of Romania’s leading FM radio station, and of an important Romanian television station.
• One of the main European broadcasting groups and a top European investment fund for the acquisition of a broadcasting radio station.
• A major global group and a Portuguese top bank in connection with the USD 88,000,000 successful privatisation of a 45% equity stake in the second privatisation of a bank in Romania.
• The Romanian Government in connection with the USD 52,000,000 privatisation of a local commercial bank, the first successfully completed privatisation project of a top Romanian bank.
• The Romanian privatisation in connection with the privatisation of the leading national aluminium producer.
• One of the world’s leading pharmaceutical and healthcare companies in relation to the spin-off of its pharmacy chain and the set up of its Romanian subsidiary. We also handled the sale of shares in its Romanian subsidiary to the largest pharmacy chain in Romania.
• One of the world leading soft-drinks and snacks producers on the EUR 20,000,000 acquisition of a leading Romanian chips, snacks and popcorn producer.
• The US-based blue chip conglomerate active in the utilities, infrastructure, finance and healthcare sectors in connection with its joint venture with the leading Romanian national aviation component manufacturer, in the jet propulsion industry.

• A joint venture between a leading American financial institution for commercial and consumer banking services and an investment group active in real estate, financial services, and infrastructure, in connection with its acquisition of one of the top Romanian insurers.
• One of the most prestigious European financial groups in relation to the acquisition of 82.5% stock of the shares in a leading Turkish bank and significant shareholding of an important leasing company.
• The world’s leading tire manufacturer on the takeover of part of a local private producer and distributor of tires, as well as of milling and baking products, and of its distribution and supply subsidiaries.
• One of the State-owned privatization agencies for providing legal assistance in the privatisation of the top national aluminium producer.