2023 has been marked by unprecedented challenges and unexpected developments, according to Wolf Theiss Partner Ileana Glodeanu. From major events like the Hidroelectrica IPO to a surge in large-scale transactions and surprising sectoral activities, Glodeanu shares her thoughts on market conditions and emerging trends in Romania.

Former Victor Stanila Law Office Managing Partner Victor Stanila has joined BNT Gilescu Valeanu & Partners in Bucharest as an Of Counsel to coordinate the firm's Capital Markets projects.

Vlasceanu & Partners has advised Alive Capital on its acquisition of a 23-megawatt photovoltaic project in Nanov, Teleorman County, in a share deal for the Da Vinci New Project company.

With CMS’s recently published European M&A Outlook report taking the temperature of the M&A activity across the continent, CMS Romania Managing Partner Horea Popescu and CMS Vienna Partner Alexander Rakosi share their insights on M&A trends in the CEE region.

In our Looking In series, we talk to Partners from outside CEE who are keeping an eye on the region (and often pop up in our deal lists) to learn how they perceive CEE markets and their evolution. For this issue, we sat down with Reed Smith Partner Kevin-Paul Deveau.

The end of 2022 has brought numerous and substantial updates to employment legislation in various areas, such as adjustments to the minimum content of the internal regulations and to the mandatory template for the employment contract, as well as a whole new piece of legislation regulating social dialogue: Law no. 367/2022 to replace the former Law no. 62/2011.

PGC Partners has successfully defended journalist Cornel Nistorescu and the Cotidianul newspaper against defamation claims filed by the Romanian Writers' Union.

A little over one year since Romania’s new foreign direct investment (“FDI”) screening regime became fully operational, the Romanian government passed an emergency ordinance meant to further clarify particular aspects under the law (such as the scope of the screening regime, which is further extended) or to translate into law the lessons learnt or the authorities’ reading of the rules since applying the new FDI law.

PeliPartners has advised Mitiska REIM on the sale of 25 retail parks in Romania to the LCP Group, part of M Core Property, for EUR 219 million. CMS advised M Core Property.

Vlasceanu & Partners and Wolf Theiss have advised the Ratesti Solar Plant – an Econergy group and Nofar group subsidiary – on the EUR 60 million financing from Raiffeisen Bank International and Raiffeisen Bank Romania to finance part of its EUR 102 million 155-megawatt solar project in Ratesti, Romania. CMS reportedly advised Raiffeisen Bank.

A recent legislative project registered for debate with the Romanian Senate indicates that the current state of affairs pertaining to the reimbursement of judiciary costs is on the cusp of a major change.

DLA Piper has advised Seattle-based Washington Dental Service on its acquisition of a 50% stake in 8 West Consulting.

Stratulat Albulescu has advised the founders of Respira Verde on the sale of 50% of their stake in Respira to OMV Petrom.

Andronic x Partners has advised the shareholders of Kepler Management Systems on the sale of the company to the Bittnet Group. Pop & Partners advised the buyers.

RTPR has advised EMI Group on the acquisition of KADRA. CEE Attorneys advised the sellers.

Stratulat Albulescu has advised Eli Parks on the lease agreement with Portuguese environmental services company Sopsa for premises covering 6,400 square meters in Eli Park 4, outside Bucharest. Wolf Theiss advised tenant Sopsa Eco Innovation.

Tuca Zbarcea & Asociatii and the IFC have worked alongside Romania's General Secretariat of the Government, Ministry of Finance, Ministry of Development, Public Works, and Administration, and Ministry of Transport and Infrastructure to update the country's regulatory framework regarding public-private partnership projects, works concessions, and service concessions.

MPR Partners has advised EnPower Energy on the development and sale of a 60-megawatt photovoltaic project near Ovidiu, Romania, to Israel's Econergy International.