Dentons has advised private investment firm B-Flexion and the Affidea Group on the sale of Affidea to Groupe Bruxelles Lambert. Kirkland & Ellis reportedly advised the buyer.

Popovici Nitu Stoica & Asociatii has advised Meta Estate Trust on its IPO and listing of shares on the AeRO market of the Bucharest Stock Exchange. The IPO was brokered by the BRK Financial Group.

The numerous political, economic and social uncertainties of the last period, coupled with a significant increase in the prices of consumer goods, have led the Romanian Government to amend the existing legal framework and to regulate the commercial behaviour of companies in a stricter manner, aiming to combat potential speculative actions, but also unfair competition practices.

Here is some good news for the renewable energy industry:

On 11 July 2022, the Romanian DPA announced it sanctioned a courier services company with a EUR 3,000 fine for breaching its obligations regarding the level of security that must be ensured with respect to personal data.

SSW Pragmatic Solutions has advised the Avallon MBO PE Fund on the full disposal of its stake in Novo Tech to Isosport Verbundbauteile Gesellschaft of the Constantia Industries group. Masiota advised the buyers. Filip & Company and MVVP reportedly also advised Avallon. SRG Stock Rafaseder Gruszkiewicz and Maruta Wachta reportedly also advised the buyers.

EY Romania affiliated law firm Bancila Diaconu si Asociatii Managing Partner Radu Diaconu has become a Partner with EY Romania, within the Tax and Legal consultancy department.

On July 15, 2022, in the Romanian Official Gazette No. 716, Ordinance No. 16/2022 for the amendment of Law No. 227/2015 regarding the Tax Code, abolishment of certain normative acts and other fiscal-financial measures (“Ordinance 16/2022”) was published, through which multiple amendments were brought to the fiscal framework.

EY-associated firm Bancila, Diaconu si Asociatii has announced that former Ratiu si Ratiu Senior Lawyer Andra Iftemie has joined the firm to develop and coordinate its new climate change, sustainability, and transportation practice.

On July 18, 2022, Radu Taracila Padurari Retevoescu announced that Resource Partners and World Class Romania's sale of World Class to the African Industries Group (reported by CEE Legal Matters on April 27, 2022) has now closed.

Popovici Nitu Stoica & Asociatii has advised Romanian Business Consult on its acquisition of SmartPay Software. Tudorache & Associates reportedly advised SmartPay Software on the deal.

Filip & Company has advised the Holcim Group on the acquisition of General Beton Romania. Antico & Partners and Gianni & Origoni reportedly advised the seller.

Government Ordinance no. 16/2022, published in Official Gazette no. 716/15.07.2022 on 15 July 2022, entails important amendments to the Romanian Fiscal Code.

CEE Attorneys Boanta Gidei si Asociatii has supported Sparking Capital in obtaining a self-managed alternative investment fund license registered with the Financial Supervisory Authority of Romania.

These past years have been challenging for companies, authorities and data subjects, who had to keep pace with the evolving regulatory requirements. On this occasion, we take a look at some of the most important decisions rendered by the Court of Justice of the European Union to date and analyze their practical implications. We also look to the future and examine several upcoming judgements which are expected to have a major impact in the field. So here are our top picks.

It is truly remarkable that in the year 1874, Jules Verne imagined that “water will one day be employed as fuel, that hydrogen and oxygen which constitute it, used singly or together, will furnish an inexhaustible source of heat and light, of an intensity of which coal is not capable”. After 148 years, Jules Verne’s dream is slowly becoming reality as it is actively acknowledged by global companies, governments and world leaders.

Nestor Nestor Diculescu Kingston Petersen, working with Luther, has advised Staffbase on its acquisition of the Romanian Dirico entity from 247Grad Labs. Schoenherr reportedly advised the sellers.

More than two years after the expiry of the deadline for the transposition of Directive (EU) 2018/1972 establishing the European Electronic Communications Code ("Electronic Communications Code"), Romania has adopted for this purpose the Law no. 198/2022 amending certain regulatory acts in the electronic communications sector and for the establishment of measures meant to facilitate the development of electronic communications networks ("Transposition Law").