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Closing: Hidroelectrica Acquisition of UCM Resita Business Lines Now Closed

Closing: Hidroelectrica Acquisition of UCM Resita Business Lines Now Closed

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Hidroelectrica's acquisition of the ABC and Calnicel platform business lines from UCM Resita (reported by CEE Legal Matters on December 22, 2023) closed on March 11, 2024, as announced by PeliPartners and Voicu & Asociatii.

UCM Resita is the oldest industrial unit in Romania. According to PeliPartners, the transaction was structured as a business transfer, consisting of the transfer of all the assets dedicated by UCM Resita and necessary to carry out the lines of business comprising the manufacturing and sale of hydro aggregates and ancillary equipment. The business was acquired through a subsidiary solely held by Hidroelectrica and incorporated as a special-purpose vehicle for the acquisition of the business. As previously reported, PeliPartners advised Hidroelectrica.

According to Voicu & Asociatii, "the oldest industrial platform in the country is being taken over by Hidroelectrica, the largest green energy producer in Romania [...] In January this year, Hidroelectrica's shareholders approved the transaction whereby the electricity producer and supplier takes over the UCMR business, as well as the establishment of a new company, Uzina de Constructii Masini Hidroenergetice (UCMH) to which the business is being transferred at a price of RON 67.9 million." Voicu & Asociatii acted on behalf of the consortium of judicial administrators of debtor UCM Resita, through its insolvency arm, VF Insolventa.

The PeliPartners team included Partner Carmen Peli, Managing Associate Oana Bucsa, Senior Associates Delia Dumitrescu and Delia Lepadatu, and Associate Marc Barabas.

The Voicu & Asociatii team was led by Partner Mariana Popa.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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