Schoenherr has advised BlackPeak Capital portfolio company euShipments.com on its acquisition of a majority stake in Romanian e-fulfillment provider Helpship.
Arbitration Association of Central and Eastern Europe Launches in Bratislava
On June 7, 2023, the Arbitration Association of Central and Eastern Europe – ArbCEE – was officially launched in Bratislava.
Musat & Asociatii Advises Magna on Acquisition of Veoneer's Active Safety Business from SSW Partners
Musat & Asociatii has advised Magna International Inc. on its acquisition of Veoneer's active safety business from private equity firm SSW Partners.
Romania: Draft Law Amending Terms of Challenging Building Permits and Urban Planning Documentation
On November 11, 2022, the Romanian Senate (as decisional chamber) passed a draft law that includes certain amendments with respect to the terms applicable to administrative and court challenges brought against construction and urbanism documentation.
CEE Real Estate Keeps It Real
Following a tumultuous year marked by the ongoing conflict in the region and rising financing expenses, we reached out to experts across CEE to gain a deeper understanding of the real estate landscape, including key factors driving the industry and the primary obstacles it faces.
Guest Editorial: Adaptability in Times of Change
Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?
Renewables in Romania
Contributed by Filip & Company
Romania Passes New Law Regarding Urbanism Requirements for Renewable Energy Projects
Recognizing the pressing need to rectify certain conflicting provisions within the existing legal framework applicable to the permitting process of renewable energy projects (as previously reported in the Wolf Theiss Client Alert dated January 12th, 2023 available here), Romanian lawmakers have been working since the start of 2023 to introduce legislative amendments to Urbanism Law 350/2001 and Construction Law 50/1991.
Hot off the Press: Romanian FDI Regime Formally Extended to EU Investors
The Romanian FDI regime has formally shifted to a stricter approach, with EU (including Romanian) investors now being specifically covered. We refer to Law No. 164/2023 (the "FDI Law") aimed at implementing and amending Emergency Government Ordinance No. 46/2022 ("EGO 46"), which was published in the Official Gazette of Romania on 7 June 2023.
Closing: Danfoss' Absorption of Sondex in Romania Now Closed
On June 6, 2023, Buzescu Ca announced that Danfoss' absorption of Sondex Holding's Romanian operations and subsidiaries (reported by CEE Legal Matters on February 14, 2019) had closed.
Dentons Advises Dawn Capital on Leading USD 35 Million Flowx.AI Series A Round
Dentons has advised London-based venture capital fund Dawn Capital on leading the USD 35 million Series A round for Flowx.AI joined by Day One Capital, PortfoLion, and SeedBlink.
Procurement Principles to Obtain Project Funding under the PNRR
Romania's National Recovery and Resilience Plan (PNRR), designed to ensure an optimal balance between EU priorities and Romania's development needs, provides significant opportunities for the private sector to benefit from financing to build and/or consolidate infrastructure capacity.
Romanian Government Publishes Draft Technical Procedures for the Establishment of Crypto-Currency Exchange and Custodian Wallet Providers
Following two (2) years of uncertainty, at the behest of the Romanian Government, the Ministry for Finance published the draft Government Decision for the approval of procedures for the authorisation and/or registration of providers engaged in exchange services between virtual currencies and fiat currencies, as well as custodian wallet providers, on 12 May 2023. The Decision also included procedures for granting and withdrawing technical endorsements (the "Draft Decision").
Stratulat Albulescu and Tuca Zbarcea & Asociatii Advise on Walden Acquisition of Alex Transport
Stratulat Albulescu has advised the Walden Group on its acquisition of Alex International Transport 94 from Alexandru Constantinescu. Tuca Zbarcea & Asociatii advised the seller.
Banking & Finance in Romania
Contributed by Popescu & Asociatii.
RTPR Advises Innova Capital on Investment in Netopia
RTPR has advised private equity fund Innova Capital on its acquisition of a majority stake in payment services provider Netopia. The Ana Maria Andronic Law Office reportedly advised Netopia.
Diana Chitea Joins Simion & Baciu in Bucharest
Former Chitea Marilena-Diana Law Office Partner Diana Chitea has joined Simion & Baciu in Bucharest as a Managing Associate in the firm's Dispute Resolution practice.
Wolf Theiss Advises Banca Comerciala Romana on EUR 700 Million Green Issuance
Wolf Theiss has advised Banca Comerciala Romana on its EUR 700 million issuance of fixed to floating senior non-preferred green eurobonds due 2027, under a multi-issuer EMTN program.