Clifford Chance Badea has advised the arrangers on implementing the EUR 500 million bond issuance of Banca Transilvania. Filip & Company advised issuer Banca Transilvania.
PNSA Appointed Exclusive Legal Advisor to Romanian Swimmer David Popovici
Popovici Nitu Stoica & Asociatii has announced it is acting as the exclusive legal advisor for Romanian swimmer David Popovici.
Schoenherr Advises Carrier on Acquisition of EUR 12 Billion Viessmann Climate Solutions
Schoenherr, working alongside Linklaters and Paul Weiss Rifkind Wharton & Garrison, has advised the Carrier Global Corporation on its acquisition of Viessmann Climate Solutions. Hengeler Mueller and, reportedly, Davis Polk & Wardwell advised Viessmann Climate Solutions.
Romania: Important Developments in Public Procurement Legislation
The Romanian public and sectoral procurement legislation has recently undergone several important changes aimed at clarifying certain provisions that used to be open to interpretation and/or have given rise to disputes in practice.
Clifford Chance Badea Advises on USD 531.8 Million Syndicated Loan Facility for KMG International
Clifford Chance Badea has advised a bank syndicate coordinated by Banca Comerciala Romana on the USD 531.8 million syndicated loan facility – which can be increased to USD 600 million – for three KMG International Group companies in Romania: Rompetrol Rafinare, Rompetrol Downstream, and KMG Rompetrol.
Two New Recent Normative Acts Impacting the Activity of Employers in Romania
April 2023 – Early 2023 is shedding light on how to implement the numerous changes to Romanian labour law that occurred during 2022. In addition, at the EU level, a new directive which is set to come into force provides for equal pay for women and men.
Romania: Tax Exemptions for Digital Nomads
Following the legislative changes introduced at the beginning of 2022 concerning the long-term visa for digital nomads, the Romanian tax authorities have published Law no. 69/2023 in the Official Gazette no. 265 of 30 March 2023.
Romania: The Double-Edged Sword of ChatGPT in the Workplace
The business world is evolving at lightning speed, and technology is at the forefront of this change. One of the most significant technological advancements is the use of chatbots such as OpenAI's ChatGPT. Even though using ChatGPT might sound like a good idea and simplify workflows, its widespread use in the workplace can be a double-edged sword, raising concerns about the potential risks and legal issues that employers must take into account to safeguard their business.
Schoenherr, BPV Grigorescu Stefanica, and BPV Huegel Advise on HS Timber Group’s Sale of HS Timber Productions Sebes to Ziegler Group
Schoenherr has advised HS Timber Group on its sale of HS Timber Productions Sebes to Ziegler Group. BPV Grigorescu Stefanica and BPV Huegel advised the buyer.
Romania: Latest Changes to Vat Exemptions
Law 88/2023, which was published in Official Gazette no. 310 from 12/04/2023, contains important amendments to the Romanian Fiscal Code.
EU Approves MiCA Regulation for Crypto-assets. What’s Next?
Last week the European Union took a major step towards regulating the fast-growing cryptocurrency market with the final approval of the Regulation on Markets in Crypto-Assets (“MiCA”). The new regulation was approved by the European Parliament on 20 April 2023, and is now subject to formal endorsement by the European Council and publication in the Official Journal of the European Union.
Resilient Banking and M&A in Romania: A Buzz Interview with Alexandra Manciulea of Filip & Company
Despite the challenging global landscape, Romania’s banking sector continues to show resilience – with M&A activity in line with the second half of 2022 – according to Filip & Company Partner Alexandra Manciulea.
CMS Appoints Five New Partners Across CEE
A new promotion round saw 62 lawyers become Partners at CMS – spanning 25 cities across the UK, Europe, the Middle East, Africa, and Latin America – including Arno Zimmermann, Hans Lederer, and Klaus Pateter in Vienna, Alicja Zalewska-Orabona in Warsaw, and Mihai Jiganie-Serban in Bucharest.
Musat & Asociatii Advises Adesgo on Sale of Business to Tefron Europe
Musat & Asociatii has advised Adesgo on the sale of its seamless apparel manufacturing, marketing, and distribution business to Tefron Europe.
ChatGPT – Between a Valuable Instrument and Legal Nebulousness
Many books have been written and just as many films have been made trying to show what the future will look like, but we are much closer to knowing it with the advent of artificial intelligence and, more specifically, generative artificial intelligence. Generative artificial intelligence is a type of artificial intelligence that can generate new content, as opposed to systems that simply analyse or act statically on an existing data set.
Dentons Advises NEPI Rockcastle on EUR 200 Million Green Financing
Dentons has advised NEPI Rockcastle on a EUR 200 million secured green real estate financing from Erste Group Bank and Raiffeisen Bank. Wolf Theiss reportedly advised the banks.
NNDKP Successful for Hammerer Aluminium Industries Santana in Fiscal Dispute
Nestor Nestor Diculescu Kingston Petersen has successfully represented Hammerer Aluminium Industries Santana in a fiscal dispute related to transfer pricing aspects before the High Court of Cassation and Justice.
A Look Back at 2022 in Terms of Antitrust and What to Expect in 2023
In 2022, the Romanian competition authority focused on closing important investigations, recorded the highest number of cleared mergers in recent history and set the legislative framework for new directions of action and analysis.