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Bondoc & Asociatii has advised on Romanian legal aspects of Faurecia’s acquisition of a majority stake in Hella. White & Case and Dentons also advised the buyer and Freshfields advised the target. Hengeler Mueller and Bredin Prat advised former Hella shareholders Hueck and Roepke. Additionally, Hogan Lovells advised Bankhaus Lampe, Herbert Smith assisted Natixis and Societe Generale, and Gleiss Lutz advised Perella Weinberg. On the group of bidders, Clifford Chance advised Mahle and Allen & Overy and Linklaters reportedly advised Knorr Bremse and Plastic Omnium, respectively.

Directly negotiated power purchase agreements with physical delivery (“PPAs”) have been a sensitive topic in Romania since 2012, when they were prohibited under the new energy law no. 123/2012 (the “Energy Law”) and continue to be a hot topic today, even though (long term) PPAs negotiated over the counter are expressly allowed under art. 3 (o) of Regulation (EU) 2019/943 (“Internal Market Regulation”), as they fall under the concept of “long term supply agreements”. This is mainly because Romania has stumbled over the last 2 years in reintroducing the directly negotiated PPAs back into the domestic legislation, in line with EU rules and EU market practice.

The COVID-19 pandemic has brought a lot of practical and legislative changes. Still, even if the virus complicated the overall environment (to which other factors contributed, such as elections followed by a change of government), Romania remains a place with significant business opportunities.

The first part of July 2021 marks an important step at the level of the EU in its road towards the European Green Deal objectives. On July 14, 2021, the European Commission (EC) announced the rather complex set of reforms under the Fit for 55 package. Only a week before, the EC issued the Renewed Sustainable Finance Strategy setting forth the main steps going forward towards placing ESG-disclosures and sustainability matters at the heart of financing system and economy in the EU.

A recent case brought before a court in Amsterdam has given us the opportunity to call into question the right of access to personal data regulated by art. 15 of the General Data Protection Regulation (GDPR) and in particular certain aspects related to the difficulties that may be caused to a data controller, in certain situations, by the data subjects’ exercising this right.

Well past the imposed transposition deadline (i.e. 31 December 2020), on 29 April 2021, the Ministry of Energy published in transparency the draft law on the transposition into the national legislation of Directive (EU) 2019/944 of the European Parliament and of the Council on common rules for the internal market for electricity and amending Directive 2012/27/EU (the “Draft Law”).

Starting with 1 April 2021, the long-term electricity supply contracts will no longer be as long-term as they used to be. Following the entry into force of ANRE Order No. 26/2021(“Order 26/2021”), the concept of „long term electricity supply contract” was redefined as a „supply contract with a delivery period longer than or equal to one month”, compared to the previous definition which referred to „delivery period longer than one year”.

An increasingly popular option for enjoying a pleasant time is tourism in Romanian rural areas, which has progressively developed in recent years and, although affected by the pandemic, still has considerable development potential. In fact, the COVID-19 crisis is expected to equally have positive effects, including in areas such as this one, when stronger emphasis is placed on an environmentally friendly tourism economy.

As part of the EU strategy to create a Digital Single Market, Directive 2018/1972 of the European Parliament and Council establishing the European Electronic Communications Code (the „EECC” or the „Code” and the „EECC Directive”) was published on December 17th, 2018 and entered into force on December 20th, 2018. The EECC should be considered together with EU Regulation 2018/1971 establishing the Body of European Regulators for Electronic Communications („BEREC”).

Bondoc si Asociatii at a Glance

Bondoc și Asociații SCA is a leading Romanian law firm advising private corporations, public entities and lending institutions in the development of significant and increasingly integrated projects in a wide range of practice areas, including corporate and commercial law, M&A, banking & finance (including also structural funds and state aid), energy, capital markets, competition law, labor, real estate, IT&C, regulatory and compliance. Its lawyers are specialized in providing integrated advice on virtually every legal aspect associated with complex cross-border transactions, as well as domestic projects.

We have the experience and necessary resources to advise private corporations, public entities and financial institutions in their cross-border expansion, in the development of significant and increasingly integrated projects.

In terms of M&A transactional work, our team has been involved in many significant transactions covering a broad range of industries.

We are one of the few firms capable of assisting in a professional manner on virtually any type of M&A project in any industry in Romania and of any size, including with respect to highly regulated sectors or in connection with public authorities.

We have very strong departments in all support areas needed for such transactions, including without limitation competition, commercial law, real estate, labor law, banking &finance, energy, environment, and other regulatory.

Key Information:

  • 9 partners;
  • 40 lawyers, most of whom have also studied abroad;
  • Covering the full range of legal services;
  • Having worked on many of the largest and most complex projects in the Romanian market in the past 3 years;
  • One of the very few Romanian law firms growing in the market;
  • Highly recommended by international directories in 11 areas of law.

We offer:

  • Integrity;
  • A Client-oriented approach;
  • Top quality services, including in highly regulated sectors;
  • A size allowing for the coverage of several large projects at the same time;
  • Very strong experience in both domestic and international complex projects, including in highly regulated sectors;
  • A holistic approach.

Expertise:

Our lawyers have wide experience in dealing with complex and sophisticated legal matters.

  1. Banking & Finance
  2. Capital Markets
  3. Commercial
  4. Competition
  5. Corporate / Mergers & Acquisitions
  6. Data Protection
  7. Employment
  8. Energy & Natural Resources
  9. Environment & Regulatory
  10. Healthcare/Pharma & Medical Services
  11. Insurance and Private Pensions
  12. Intellectual Property
  13. IT/Technology & Communications
  14. Litigation & Arbitration
  15. Media, Entertainment & Advertising
  16. Public Procurement & PPP
  17. Real Estate& Constructions
  18. Restructuring & Liquidation
  19. State Aid & European Structural Funds
  20. White Collar / Investigations & Compliance

For further information about Bondoc si Asociatii Law Firm, please visit our website at bondoc-asociatii.ro.