The Legal 500

CMS Cameron McKenna SCA fields a team of four partners and 23 assistants in a practice which combines local and international expertise. Clients praise the firm’s ‘strength in depth’ and ‘appropriateness of advice’. Private equity deals and complex multi-jurisdictional matters are areas in which the practice excels. It advised the shareholders of Ozone Pharmaceuticals regarding the sale of assets to LaborMed, a portfolio company of Advent International, in what was reported to be the largest pharma transaction of the year in Romania. It also represented Eureko Pensions Romania in the first pension funds merger procedure to occur in the Romanian market. Clients include Cadbury Schweppes, HSBC, Erste Bank, 3i and Iberdrola. Head of corporate John Fitzpatrick and managing partner Todd Robinson are highly regarded by clients, while Horea Popescu is ‘very quick, attentive, intelligent, a good coordinator with very good communication skills’.

Clients describe the corporate team of three partners and 35 associates at Musat & Asociatii as ‘excellent’ and offering an ‘unrivalled service’. The practice advised PPF investments in connection with the successful acquisitions of local private gas suppliers and distributors Gaz Sud and GDR, in two transactions exceeding €62m. It also advised Roche Diagnostics International in connection with the €17.5m acquisition of the assets of Top Diagnostics, a leading player in the diabetes care market. High-profile clients include AT&T, Oracle Romania, Google Bucharest, Monsanto, Abbott Laboratories, Eli Lilly and Nokia. Over the past 12 months, the firm has promoted six senior associates to managing associate, a new position created to increase the flexibility of the corporate team. Senior partner Gheorghe Musat is highly regarded by clients, while co-managing partner Catalin Baiculescu has ‘deep knowledge of the law and the ability to explain the key issues in a practical and clear manner’.

Longstanding market leader Nestor Nestor Diculescu Kingston Petersen is regarded as ‘an outstanding firm with great lawyers and a track record that speaks for itself’. The corporate team, headed by Adriana Gaspar and assisted by co-heads Gabriela Cacerea and Ruxandra Bologa, adopts a sectoral approach with expertise in financial services, FMCG, automotive, agriculture, media, online publishing, healthcare and oil and gas. Transactional highlights included acting for Unilever South Central Europe in its acquisition of the Napoca Ice Cream Business from Friesland Group, as well as representing global farming company Ingleby on its acquisition of four farming companies. The firm assisted Microsoft in the process of acquiring the Romanian internet survey business of Greenfield Online as well as acting for Ford in restructuring operations following the privatisation of Automobile Craiova. With strength in depth and the ability to handle complex international matters, clients say that Nestor Nestor Diculescu Kingston Petersen ‘offers the best advice from the best lawyers in the country’.

Clients are impressed with the ‘high-quality advice’ and ‘excellent response times’ offered by the corporate team at Tuca Zbarcea & Asociatii. Headed by Razvan Gheorghiu-Testa and managing partner Gabriel Zbârcea, the practice fields six partners in total, with support from 12 associates. It has notable expertise in acquisitions, with transactional experience across a number of industry sectors including energy, finance, real estate and retail. The practice is assisting Voestalpine – Austria’s largest steel producer – with the company’s proposed Greenfield project to erect an integrated iron and steel mill in the Black Sea region, which could involve an investment of up to €7bn. A Memorandum of Understanding has been signed with the Romanian government. It also acted for Carrefour Property, the real estate division of Carrefour Group, in connection with a €40m transaction for the acquisition of a real estate in the Northeastern Romanian city Bacau from Sogeprom, the property development unit of France-based bank Société Générale. The project will include a Carrefour hypermarket and a commercial gallery with approximately 75 stores. Stefan Damian is recommended, while Florentin Tuca is ‘a brilliant lawyer, capable of seeing solutions where others cannot’.

Nadia Badea heads the corporate team at Badea Clifford Chance, which has a strong practice acting for financial services clients, in keeping with its pre-eminent status as a banking specialist. The firm assisted RBS in relation to an ongoing investigation of the Romanian Competition Council on the banking market in Romania, as well as assisting Warburg Pincus on the sale of health services provider Euromedic International to Merrill Lynch Global Private Equity. The practice also acted for Anheuser-Busch InBev in relation to the sale of its operations in several jurisdictions in the region (including Romania) to CVC Capital Partners – the most complex private equity transaction in Central Eastern Europe in 2009. Clients note the firm’s ‘very good knowledge of international law’.

Gide Loyrette Nouel acts for multinational clients on large, complex transactions, often operating in heavily regulated sectors. Managing partner Bruno Leroy heads a team of six associates. The firm advised E.ON on the €150m merger of its Romanian gas and electricity supply subsidiaries, E.ON Gaz Romania and E.ON Moldova Furnizare, as well as assisting on the post-merger implementation of the privatisation agreements applicable to its gas and electricity supply subsidiaries. In the insurance sector, the practice represented Groupama in its acquisition of 100% of the share capital in Asiban, Romania’s third-largest insurer.

Popovici Nitu & Asociatii has been established for 15 years and is one of Romania’s leading commercial law firms. The practice excels in private equity and real estate deals. This year the practice added Innova Capital, Apollo Fund and Seed Capital to an existing client-base which includes Property Fund, Oresa Ventures, NCH and Global Finance. It advised Arcelor Mittal in connection with the €68m acquisition of shipyard operator Comvex based on a public takeover bid, as well as acting for Auchanhyper in relation to the €40m acquisition of MGV Distri Hyper – the local operator of the Auchan hypermarket chain. Clients are impressed with ‘rapid feedback on all queries, balanced view on risks and very good quality reporting and transaction documents’. Florian Nitu is recommended; Silviu Stoica is ‘professional, experienced and knowledgeable’.

Costin Taracila heads a corporate team of three partners and 16 lawyers at Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP. The firm’s strength lies in complex acquisitions and disposals with financial services, insurance, pensions and healthcare among its areas of expertise. Transactional highlights included advising 65-store Romanian retail chain Profi Rom Food on the sale of its business to Enterprise Investors, in a transaction worth €66m. It also acted for AEGON, one of the world’s largest providers of life insurance, pensions and investment products, on the acquisition of a 50% stake in pension fund BT AEGON Fond de Pensii from Banca Transilvania. The transaction was valued at €11m. On the insurance side, the firm advised Uniqa on the acquisition of 100% stake in Unita Vienna Insurance Group, in a transaction worth €200m.

Energy and real estate transactions are among the specialities of Salans’ corporate team which clients describe as ‘excellent’ and ‘top-rated’. Three partners head up a large team of associates, while notable hires this year include the arrival of Septimiu Stoica, former President of the Bucharest Stock Exchange. The firm is providing ongoing advice to GDF Suez (Electrabel) on the refurbishment of Cernavoda Nuclear Power plant Units 3 and 4 – capital expenses for the project have been evaluated at €2.2bn. The corporate team is acting for the same client on the acquisition of two coal-fired power plants belonging to the largest state-owned power and heating supplier Termoelectrica. Away from the energy sector, Salans is advising Black Sea Global Properties in connection with its mandatory recommended cash offer for real estate investment fund Fabian Romania. Managing partner Anda Todor is recommended; Lucian Bondoc is ‘very professional and easy to work with’.

Schönherr provides an ‘exceptional level of client responsiveness’ and ‘both practical and legally sound advice’. The corporate team is headed up by Markus Piuk and has significant capability in the energy and insurance fields. It is advising EDP Renovaveis in the acquisition of an 85% stake in Renovatio Power and Cernavoda Power, both of which are in the process of developing wind projects with an aggregate installed power of 736MW. The firm also advised Verbund, Austria’s largest energy utility, on the acquisition of a 150MW wind park project in the Black Sea region. 2009’s headline transaction was acting for Dutch beer giant Heineken on the €150m takeover of Romanian brewery Bere Mures. The takeover, headed up by Mihai Radulescu, included the brewery, a sparkling water factory, and the Germisara tourist complex in the Geoagiu Bai resort.

Renowned as the ‘go to’ tax firm in the Romanian market, Biris Goran SCA’s corporate clients are impressed with ‘quick response times, clearly expressed, detailed legal opinions and a practical, commercial approach’. Dan Visoiu heads a team of three partners and eight assistants in a practice built on excellent real estate expertise. The team acted as lead counsel regarding the corporate restructuring and merger of EU-based group companies holding real estate worth more than €250m. It also advised the vendor in the sale of a real estate development to RREEF and EFG Bank valued at €340m and reported as the largest real estate transaction in Romania to date. On the M&A side, the firm is representing Publicis Groupe in various ongoing acquisitions in Romania.

Clients of Bulboaca & Asociatii say ‘the firm provides a very good level of service both in terms of quality and in terms of promptness of response’. Adrian Bulboaca leads a corporate team of five partners and 13 assistants. Clients include British American Tobacco, Hygiene Products GmbH, Kelag, Kraft Foods International, Martifer Group, Metropolis, Pöyry Infra and Valmont Industries. The practice advised Dole Europe in connection with the takeover of the largest Romanian fresh fruits distributor, in a deal worth €30m, as well as advising Kraft Food Romania in connection with a factory unit close down and related transfer of undertakings. Adrian Bulboaca and Razvan Stoicescu are described by clients as ‘outstanding lawyers’.

The corporate team at D&B David si Baias is praised for its ‘good overall understanding of the M&A process’ as well as ‘high levels of responsiveness and organisation’. Two partners and 11 associates have expertise in the retail sector, as well as in corporate activity in which employment matters are at stake. The firm assisted Mega Image with its acquisition of four stores from the Romanian company Mialan Comimpex, located in Bucharest. Valued at €5m, the firm also assisted the client in notifying the Competition Council of the deal. On the restructuring side, the practice provided legal advice and assistance for the merger of five Romanian entities in the Michelin group with the purpose of optimising the management of its Romanian operations. Managing partner Sorin David is ‘a real expert on Romanian law’.

Lina & Guia SCA is an law firm with a growing reputation, whose new clients in the past 12 months include Sunlight Systems, Siemens Enterprise Communications and Bovis Lend Lease. One client describes them as a ‘firm you can trust to solve complex issues fast and provide timely advice’. The practice’s standout transaction of the last 12 months was advising Cosmote Mobile Telecommunications on the acquisition of the Romanian mobile operator Telemobil, which operates on the local market under the Zapp brand name. The deal was one of the most significant in the Romanian telecoms sector, being the merger of the country’s third and fourth largest mobile network operators. The firm also advises the local entities of the InterMarche Group – the Interex chain of supermarkets – on a range of corporate work including structuring work and transactional assistance. Mihai Guia has ‘excellent judgment of tactical and strategic issues associated with an M&A deal’; Cristian Lina is ‘well worth having on your team, especially during difficult takeover negotiations’.

Four partners lead a team of 14 assistants at Peli Filip, a recently established firm which is nevertheless a major force in the Romanian legal market. The practice was involved in 25 M&A transactions in 2009 – a period when the market was significantly hit by the global economic crisis. Peli Filip has the expertise to carry out complex cross-border work for sophisticated international clients. The firm advised CVC Capital Partners on matters of Romanian law in relation to their leveraged acquisition of the operations of brewer InBev in seven CEE countries, a transaction with an enterprise value of approximately $2.2bn and additional rights to a future payment estimated to be as much as $800m. It also assisted Tiriac Group in its exit from a joint venture with Daimler Group which involved importation of Daimler automotive and trucks brands to Romania. The transaction was the first such exit by a car importer in Romania and the only deal in a market that suffered substantial contraction as a result of the current downturn. Cristina Filip and Carmen Peli are picked out for praise.

Reff & Associates is the correspondent law firm of Deloitte Romania and benefits from the contacts and infrastructure of its association with the global consulting giant. Real estate and logistics are among the firm’s areas of expertise. The practice acted as sole legal adviser to Romtrans, the leading Romanian logistics company, following the complex acquisition process of Romtrans by Schenker & Co, a division of Deutsche Bahn. It also provided assistance to the founding shareholders of technology firm ITC Networks on its sale to Luxsoft. Alexandru Reff leads a team of 11 fee-earners.

Advising on major greenfield investments, M&A transactions and joint ventures forms the core of the corporate practice at S.P.R.L. Menzer & Bachmann – Noerr. Rusandra Sandu leads the team which carried out transactions with a total value of €900m in the past 12 months. The firm advised Austrian DIY retail chain BauMax on the development of its business in Romania and the set-up of new stores. The work included evaluating various sites, negotiating land purchase agreements and advising on all relevant Romanian legal requirements. The practice also acted for a major Austrian Bank in the cross-border takeover of a leasing company, assisting the client with both corporate and competition issues.

Vernon | David strengthened its corporate capability this year with the arrival of Dorina Dumitrescu, formerly a partner at Wolf Theiss, part of an expansion drive which has seen the firm’s headcount rise to 23 lawyers. M&A transactions involving both public and private concerns are the practice’s key strength, and its client list includes Coca-Cola, Egnatia Bank, Dubai World, American Express Bank, Vitol, Unilever and Impress. The firm advised Total Eurobusiness on the sale of the company to GED, a large Spanish fund – Total Eurobusiness is the leading Romanian provider of small co-generators and is a partner of GE Electric. It has also advised Tarmac on a variety of complex corporate and acquisition issues, including concession agreements, environmental issues and major labour matters. Clients praise the firm’s ‘commercial awareness’ and describe service levels as ‘very good’. Managing partner Charles Vernon is held in high regard by clients.

Clients are pleased with the ‘fast, comprehensive support and wise advice’ provided by the corporate practice at Voicu & Filipescu SCA. Daniel Voicu and Mugur Filipescu lead a team of 16 associates; key clients include Accenture, A&D Pharma Group, AIG, Bel Rom, Campofrio, Capgemini, Centrul Medical Unirea, Coca-Cola HBC Romania, Dorna Apemin, DuPont, Fujikura, General Electric, Glenmark Pharmaceuticals, Goodyear and Honda. The firm assisted Progas Invest, the majority shareholder of the natural gas supplier and distributor Grup Dezvoltare Retele, in the sale of shares to Gazoline Magic, an entity controlled by PPF Investments. The transaction included data room organisation and preparing additional information requested by the Competition Council. Raul Mihu is recommended; Daniel Costea is ‘professional, communicative and always working for the benefit of the client’.

Wolf Theiss has a reputation among its clients for ‘good knowledge of the industries it works in and awareness of client needs’. Deutsche Bahn and Vereinsbank Victoria Bauspar are new clients of the corporate team, joining established clients such as Bank Austria, member of the Unicredit Group and Erste Bank der österreichischen Sparkassen. The firm has particular strength in finance and insurance matters as part of a broader corporate offering. It advised Bank Austria on the sale of HVB Banca pentru Locuinte to Raiffeisen Group, one of the few deals in the banking system following the global credit crunch. Managing partner Bryan Jardine is recommended, while Ancuta Leach is ‘very committed’.

Three partners and six associates make up the corporate team at Anghel Stabb & Partners, which is led by managing partner David Stabb. The firm has a strong practice, with particular expertise in the engineering sector, and undertakes all types of corporate work for an SME client base. It acted for ENER-G PLC on the acquisition of an engineering consultancy firm, as well as advising Express Cash Solutions on the establishment and subsequent development of a company that specialises in providing independent ATMs. On the real estate side, Anghel Stabb & Partners advised Kork Properties on the establishment of a company specialising in property investments and acted for Property Partners International on the establishment and development of Exclusive Interiors SRL, a real estate trading company. Clients say that the partners are ‘calm, assured and deeply professional’.

Clients describe the corporate practice at bpv Grigorescu as ‘generally very good’ and ‘highly recommended’. Managing partner Catalin Grigorescu heads up a team of four partners and 13 associates. The firm has a solid corporate and M&A practice and is in the process of expanding its expertise in restructuring and insolvency work to meet the demands of the current market. The practice advised EXL Service Romania on the establishment of a business outsourcing project in Cluj. Alexandru Rusu is described by clients as a ‘particularly good lawyer’.

Bostina & Associates is one of the largest firms in Romania with 15 offices across the country and a staff of 130 lawyers and nine partners. The firm has a strong reputation for understanding how business is conducted in 
the country and has links with the Romanian political and commercial class. The corporate practice is led up by Alexandra Necatu. Clients include Unicredit Consumer Financing and Clarima.

Managing partner Peter Buzescu leads a four fee-earner corporate team at Buzescu Ca. Clients say that ‘response times are very good and the responses always add value’ and are impressed by ‘the knowledge of the team’. New clients include Merrill Lynch Commodities (Europe), Gazprom Marketing & Trading, Statkraft Markets, Texas Instruments and PetroSantander, joining an established client base which includes Coca-Cola Romania, Estée Lauder Romania, Travelport Romania, Amromco Energy, Timken Romania, Wizz Air and Medochemie Romania. The firm acted for MFS Holding, a subsidiary of Mitsubishi Corporation, on the acquisition of the Romanian subsidiary of Freudenberg & Co, as well as advising German vehicle spare parts manufacturer Continental on the restructuring of the shareholding of its Romanian operations, and amendment of the Constitutive Act, of its Romanian subsidiary.

CHSH Gilescu & Partnerii S. C. A. Cerha Hempel Spiegelfeld Hlawati displays ‘an impressive level of practical knowledge and the ability to provide fast solutions in a reliable manner’. Mirela Nathanzon leads a corporate team of three partners and nine assistants 
which has significant expertise in agricultural land acquisitions. The firm’s clients include 
Arcus Air, Beck International, Purator Systems, RIGK, Tchibo Brands, Ventureal and Wood 
& Company Financial Services. One client reported that CHSH Gilescu & Partnerii S. C. A. Cerha Hempel Spiegelfeld Hlawati is ‘a good choice if one wants to receive value for money 
from a medium-sized, accurate and trustworthy law firm, which must keep pace with bigger Romanian firms’.

As of 2009, E. PLATIS C. BAZILESCU Associated Law Offices became the associated law office of global consulting firm Ernst & Young. This move has ensured that the firm is well-positioned to become a significant player in south-east Europe. The firm’s clients include Citigroup, Enel, British Telecom, Mitsubishi, Erdemir, CISCO and Lufthansa. The practice acted for Olympic Investments and Trading (Cyprus), the commercial arm of Onassis Foundation, in the acquisition of a majority shareholding in Koumbas Synergie Romania, a joint stock company with six Romanian subsidiaries which owns significant real estate in and around Bucharest. It also acted for Balkan Iron Group on a shareholders’ restructure through a debt equity swap. Eirinikos Platis is recommended.

Clients describe the corporate team at Kinstellar as ‘very responsive, commercial, proactive and business-oriented’. Managing partner Daniel Torsher leads a team of six associates. Transactions for private equity clients are a particular strength of the practice, which recently advised Partners in Life Sciences, a UK-based, healthcare-focused private equity house on the acquisition of 100% of the share capital of of Betasan Bant Sanayi ve Ticaret and Salve Saglik Urunleri, leading Turkish manufacturers of first aid bandages and plasters who also distribute in the Romanian market. The firm also advised ENI in relation to the acquisition of ten petrol stations from MOL in Romania, which included a review of fuel supply contracts, as well as complex merger control filing. Razvan Popa is recommended.

The 17-lawyer team at Marian Dinu Law Office (DLA Piper) previously worked at Linklaters LLP and offers full-service capability in the Romanian market. Managing partner Marian Dinu is highly respected by his peers 
and previously worked in a senior role for Petrom, Romania’s largest corporate entity. 
The firm has been active in Romania since November 2008 and is carving out a role as significant player in the healthcare sector. It is advising Top Diagnostics on the sale of its business of distribution, marketing and service of in vitro diagnostic products to Roche Diagnostics; and also counts Johnson & Johnson and Omega Pharma as clients. On the financial services side, the practice is advising Morgan Stanley on the disposal of its stake in HTI Valori Mobiliare.

Pachiu & Associates is a five partner, 24-fee earner, full-service law firm with expertise in real estate. The corporate team is headed up by managing partner Laurentiu Pachiu and Alexandru Lefter. Pachiu & Associates is acting as counsel to Tnuva Israel in a €75m financing from financial institutions for a dairy Greenfield project, as well as advising Peek & Cloppenburg on the development of a fashion retail network in Romania.

Ratiu & Ratiu’s 15 fee-earners are headed by Adrian Ratiu, who focuses on bankruptcy and the transport and energy sectors. The corporate team is led by Iuliana Leon. The firm is assisting a multinational company in all commercial matters relating to the development and operation of retail stores in over 100 locations across Romania.

Vilau & Mitel is a six-partner law firm with 35 fee-earners in total. The practice is led by Dragos Mihail Vilau and Sorin Mitel, who clients say are ‘highly experienced, discrete and accurate M&A advisors; people you want batting for your side’. The firm acted for Eurocopter in relation to its joint venture with IAR Ghimbav, the Romanian helicopter producer, for the manufacture of helicopters and helicopter equipment as well as advising Unicredit Romania in connection with the change of the management system to two-tier scheme involving a supervisory board and management board. Other clients include Adidas and ING Real Estate.

White & Case, Shollenbarger only commenced operations in the Romanian market at the beginning of 2008. Clients report that ‘the overall level of service is excellent, very much in line with what you expect from a multinational firm’. The practice is active in both domestic and cross-border corporate transactions, including mergers, acquisitions, joint-ventures, and corporate restructurings. Insurance and energy are areas of expertise, and Generali PPF Holding is an important client. The practice advised supermarket owner Auchan Group on the acquisition of 71% of the share of capital of MGV Distri-Hiper. Delia Pachiu is ‘always looking for solutions to problems and compromises in order to speed up the closing, differentiating between important and non important issues’.

Clients praise the corporate team at Zamfirescu Racoti Predoiu Law Partnership for its ‘excellent response time, very good business knowledge and value for money’. Ioana Racoti heads the practice which includes three partners and nine associates. The firm represented Tender, Romania’s largest logging company, with regard to its €25m sale, as well as acting for Bancpost on the successive increase of its share capital in order to comply with directions from the National Bank of Romania. Other clients include Danone, Hennes & Mauritz, Johnson & Johnson, Monsanto, MyAir, Navrom and Nord Gaz. Anca Danilescu is regarded by clients as ‘particularly good’.

Ciurtin, Brasoveanu & Partners has three partners who practice from offices in Bucharest and Iasi. For corporate work Adrian Ciurtin is the principle contact.

Deleanu Vasile – Lawyers is an 18-lawyer practice which specialises in local and regional work. Clients include Sea Romania, IMSAT Romania and Romanian State Television Company TVR.

Iustina Grigoriadis heads the corporate team of Greek firm Drakopoulos Law Firm. The firm acted for Icme Ecab, the largest producer of electric, telecommunications and fibre optic cables in Romania, while negotiating and concluding a large contract for the provision of cables and electric components with energy giant CEZ.

Commercial lawyer and arbitrator Despina Fruth Oprisan heads Fruth Oprisan & Asociatii.

Gruia Dufaut Law Firm specialises in advising French investors and corporate clients on their business dealings in Romania.

Mihai Mares leads a corporate team of five associates at J&A Garrigues SLP – Sediu Permanent. The firm acted for Ancin Clima regarding the acquisition of a majority stake in a local firm in the Romanian air-conditioning market.

Magda Volonciu and Associates has eight fee-earners and is headed by Magda Volonciu. Employment law is the practice’s key strength, acting for a variety of local and foreign firms.

McGregor & Partners S.C.A. is a full-service law firm with offices in Bucharest and Sofia. Neil McGregor and Boiana Berchi are recommended. The firm delivers work ‘that can happily stand scrutiny next to the largest of law firms in the region’.

Rubin Meyer Doru & Trandafir, SPCA has a good track record on large M&A transactions. Corporate clients include the National Bank of Greece and Mega Image Supermarket chain.