Following Order no. 3265/21453/2022, to which we drew your attention in early November 2022 here, the Minister of Research, Innovation and Digitization has approved the structure of the Body of Experts enrolled in the National Register of Experts for certification of research and development activity (REXCD).

A high degree of effervescence in the country, with massive legislative updates both taking hold and still in the works – as well as a potential Prime Minister rotation soon to come – is what keeps lawyers talking in Romania, according to Act Legal Romania Partner Laura Estrade.

Clifford Chance has advised Banca Comerciala Romana and Erste Group Bank on the financing for Enery Power Holding’s acquisition of the Romanian renewable energy portfolio from Jade Power Trust.

Clifford Chance has advised a club of Czech banks led by Ceska Sporitelna on their financing for the Rohlik Group. White & Case advised Rohlik.

PwC Legal Romanian affiliate D&B David si Baias has advised US-based investment fund Broadhurst on the sale of Romanian bakery group Vel Pitar to Mexico's Grupo Bimbo.

Schoenherr has advised Eurobank Greece on the sale of a commercial real estate asset in Iasi, Romania, to the real estate division of the Radacini Group.

Dentons has advised Romanian state-owned CEC Bank on the establishment of its EUR 600 million medium-term note program and its first two issuances amounting to over EUR 249 million. Clifford Chance advised arrangers Citigroup and Raiffeisen Bank International.

BPV Grigorescu Stefanica has advised Bucharest-based software and infrastructure company Incrys on its acquisition of Usource.

In 2021 Romania adopted its new legislative framework introducing a deposit-return system applicable to non-refillable primary packaging made of glass, plastic or metal with volumes between 0.1l and 3l inclusive, containing water, juice or alcoholic beverages ("DRS").

Leroy si Asociatii has advised Tereos on the sale of its sugar factory in Ludus, Romania, to private investors Mihaela Neagu and Mihail-Daniel Matache. Tuca Zbarcea & Asociatii reportedly advised the buyers. 

Wolf Theiss has advised Speedwell on developing its first industrial project in Romania, located northwest of Bucharest.

Vlasceanu & Partners has advised Econergy on the EUR 150 million financing from Phoenix Insurance for the development of its PV project pipeline in Romania and Poland and on the EUR 250 million financing from RGreen Invest for renewable energy investments across Europe.

Kinstellar has advised BRD-Groupe Societe Generale on its EUR 24.3 million financing to Speedwell for the development of two green residential buildings in Timisoara, Romania. Wolf Theiss reportedly advised Speedwell.

Tuca Zbarcea & Asociatii has advised Untold Universe on the sale of a minority stake to Mozaik Investments. Filip & Company advised Mozaik.

A paradigm shift in Romania’s labor law granting additional powers to trade unions will likely liven up the area and lead to an increase in related mandates, according to Tuca Zbarcea & Asociatii Partner Serban Paslaru.

The year 2023 in Romania started with hopes for more legislative clarity concerning fire safety. Order No. 180 / 2022 issued by the Ministry of Internal Affairs for the Approval of the Methodological Norms on Fire Safety and Civil Protection Endorsements and Approvals (the “Fire Safety Norms”) was published in the Official Gazette of Romania on 27 December 2022.

MPR Partners has advised V-Ridium on its acquisition of two photovoltaic parks in Romania with a combined production capacity of 6 megawatts. Legalias reportedly advised the sellers.

The Romanian pharmaceutical sector has been constantly subject to legislative amendments and also scrutiny by numerous (tax, competition, criminal, regulatory) authorities. The base law on the healthcare system alone was modified more than 170 times in 16 years. While each authority has dealt with its own matters when regulating this sector, one of the main shortcomings is the lack of an integrated approach that, to the benefit of Romanian patients, looks holistically at aspects from clinical trials to pricing and reimbursement and claw-back tax.