Vlasceanu & Partners has advised Vintruvian Estates on its acquisition of Dragasani-based Crama Mennini and that of a majority stake in Dobrogea's Crama Histria. Sole practitioner Anca Negoita reportedly advised Crama Mennini's sellers.
CMS has advised the Bitdefender cybersecurity company on its acquisition of Singapore-based Horangi Cyber Security. Singapore's Dentons Rodyk & Davidson reportedly advised the unidentified sellers.
August 2023 – The first part of 2023 continued last year's trend of substantial changes to Romanian labour legislation, which is of real interest to both employers and employees. As such, both Law no. 53/2003 on the Labour Code (“Labour Code”) and Law no. 367/2022 on social dialogue (“Law on Social Dialogue”) have undergone several changes, some aimed at clarifying legal issues identified in practice and others at promoting flexibility at work and work-life balance.
On 22 March 2023, the European Commission published its proposal for the Green Claims Directive. The new directive aims at filling the legislative gap that has been enabling the practice of greenwashing and it is therefore intended to complement as lex specialis the existing set of EU rules on consumer protection.
On 7 August 2023, the Ministry of Energy published for public consultation the draft Government decision on the approval of the general legal framework for the implementation and functioning of the Contracts for Difference (CfD) support mechanism for low carbon technologies (the “Draft Government Decision”), together with an information note for potential bidders in relation to the implementation of a first CfD scheme, the related auctions rounds being envisaged for Q4 2023 and Q1 2025 (the “Information Note”).
Romania is on the verge of introducing a much-awaited new support scheme for renewable energy. On 7 August 2023, the Romanian Ministry of Energy launched for public consultations a draft decision approving the legal framework for the implementation and functioning of the Contracts for Difference ("CfD") support scheme for low-carbon technologies ("CfD Scheme").
Reed Smith and CMS have advised Helleniq Renewables on its acquisition of a 211-megawatt solar portfolio in Romania from Mytilineos Group's Metka EGN. Volciuc-Ionescu, working with the UK offices of EY Law, advised Metka EGN.
Filip & Company has advised residential developer Alesonor on its partnership with the Verita International School & Kindergarten to develop the second Verita campus in Romania in Alesonor's Amber Forest suburb.
The EU Directives on Work-life balance and on Transparent and predictable working conditions were introduced into the Romanian national legislation in February 2022 with subsequent amendments in August 2022, October 2022, and February 2023. These directives have imposed substantial changes and obligations on employers. What do they mean for businesses?
On August 3, 2023, Musat & Asociatii and Firon Bar-Nir both announced that the sale of Adesgo’s seamless apparel business to Tefron Europe (reported by CEE Legal Matters on April 18, 2023) had closed.