Dentons has advised London-based venture capital fund Dawn Capital on leading the USD 35 million Series A round for Flowx.AI joined by Day One Capital, PortfoLion, and SeedBlink.
Following two (2) years of uncertainty, at the behest of the Romanian Government, the Ministry for Finance published the draft Government Decision for the approval of procedures for the authorisation and/or registration of providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers, on 12 May 2023. The Decision also included procedures for granting and withdrawing technical endorsements (the "Draft Decision").
RTPR has advised private equity fund Innova Capital on its acquisition of a majority stake in payment services provider Netopia. The Ana Maria Andronic Law Office reportedly advised Netopia.
Norton Rose Fulbright, Ionescu Sava, and Integrites have advised the EBRD on its EUR 42 million senior secured loan for Cersanit to improve its production facilities in Poland and Ukraine.
Norton Rose Fulbright and Stratulat Albulescu have advised the European Investment Bank on a EUR 104 million financing granted to the Maspex Group.
A new Law on supplementing and amending of (i) Law no. 350/2001 on spatial planning and urbanism and (ii) Law no. 50/1991 on the authorization of the execution of construction works has been adopted by the Romanian Parliament on 11 May 2023 (law draft PL-x nr. 110/2023). To enter into force, the law is yet to be promulgated by the President and subsequently published in the Official Gazette.
Stratulat Albulescu, working with Taylor Wessing, has advised US-based product engineering provider Encora on its acquisition of Romanian software engineering services provider Softelligence.
May 2023 – As May 2023 marks the fifth anniversary of the implementation of GDPR, we have prepared an overview of the five years of regulatory struggle in Romania since the regulation came into effect. By examining the value of the sanctions and the types of violations, we can identify some regulatory trends of the local practice.