Musat & Asociatii has assisted Emerson S.R.L., the Romanian subsidiary of Emerson Electric, with the separation of Emerson Network Power for the purpose of its transfer to the American investment fund Platinum Equity. The transaction was made at global level and amounted to approximately USD 4 billion.
According to a Musat & Asociatii press release, "Emerson Network Power (part of the Emerson giant) is an important supplier of control units and A/C and D/C power transfer switches, as well as of information management services and systems for data centers and the telecommunications industry. The Emerson Company reported sales in amount of USD 4.4 billion at global level for the Network Power business in 2016."
"The Musat & Asociatii team played an essential role in the local perimeter of this global project, mandate which can be included [sic] in the set of international transactions that kept us busy also in 2016," commented Partner Iulian Popescu in that Musat & Asociatii press release. "Our experience in the planning, multi-jurisdictional correlation, and carrying out of such projects allowed us to work in parallel in complex and challenging separation and sale structures, with a multi-disciplinary approach and the involvement of an impressive number of attorneys and advisors from over 40 countries. The experience of our team and the confidence of our clients, which were built in time, have their say when we witness the success of the projects we are involved in.”
The Musat & Asociatii lawyers "provided advise (sic) in all the stages of the business transfer process, as well as in those related to the completion and fulfillment of the conditions subsequent to the takeover operation by Platinum Equity, offering at the same time legal and fiscal assistance within the workflows of corporate law, real estate and construction, labor law, fiscal law and repatriation of profit, IT, and IP." The firm's team included Partners Iulian Popescu, Ana Maria Placintescu, and Ileana Lucian, Senior Associate Andrei Ormenean, and Associates George Ghitu and Alina Man, as well as Tax Partner Razvan Graure and Tax Manager Roxana Dobrogeanu.