PeliPartners has advised Romanian hydropower company Hidroelectrica on its acquisition of the ABC and Calnicel platform business lines from UCM Resita.
According to the firm, UCM Resita is the oldest industrial unit still in operation in Romania. "The transaction is structured as a business transfer, consisting in the transfer of all the assets dedicated by UCM Resita and necessary to carrying out the lines of business comprising the manufacture and sale of hydro aggregates and ancillary equipment." Closing is expected in the first quarter of 2024, pending regulatory approval.
The PeliPartners team was led by Partner Carmen Peli and included Managing Associate Oana Bucsa, Senior Associate Delia Lepadatu, and Associate Delia Dumitrescu.
Editor's Note: The transaction closed on March 11, 2024. The updated PeliPartners team included Partner Carmen Peli, Managing Associate Oana Bucsa, Senior Associates Delia Dumitrescu and Delia Lepadatu, and Associate Marc Barabas.
Subsequently, Voicu & Asociatii announced it had advised on the sale as part of the consortium of judicial administrators of debtor UCM Resita. The firm's team was led by Partner Mariana Popa.