The Legal 500

With extensive experience across international transactions, restructurings and workouts, CMS Cameron McKenna SCA’s corporate team is described as ‘excellent’ by clients. The firm has significant expertise in private equity deals and complex cross-border transactions; it has strengthened its private equity capability considerably with the arrival of a seven-strong team with Magic Circle experience in the CEE region. Representative transactions include acting for 3i Group on the sale of the majority shareholding in Centrul Medical Unirea, a leading Romanian medical services provider, to Advent International. On the energy side, the practice advised Iberdrola in a €300m investment agreement with Eolica Dobrogea. The advice concerns a 1600MW wind farm project in Romania and includes ongoing work on regulatory issues. John Fitzpatrick heads up the corporate team and is recommended; Horea Popescu is ‘a good negotiator with fantastic attention to detail’. Todd Robinson is also well regarded in the market.

Transactional work is at the heart of Musat & Asociatii’s well regarded corporate practice, with particular focus on large scale energy work. Clients appreciate the firm’s ‘prompt, innovative and pragmatic advice’. The firm advised Rompetrol Group, one of the largest gas and refining businesses in Romania, in connection with the €90m acquisition of the remaining free float of Rompetrol Rafinare, as well as providing legal advice in all matters pertaining to the mandatory public offering of Rompetrol Well Services. The practice also acted for SAB Miller in connection with the €10m acquisition of an absolute majority stake in the local beer producer Bere Azuga. Clients include Enel, Roche Romania, AT&T and Oracle Romania. Senior partner Gheorghe Musat is highly respected in the market; co-managing partner Catalin Baiculescu is an ‘invaluable resource’ for clients.

Clients are impressed by the ‘in-depth knowledge’ and ‘appropriate advice’ provided by the corporate team at Nestor Nestor Diculescu Kingston Petersen. The firm is a longstanding market leader, described by one client as ‘an outstanding firm with great lawyers and a track record that speaks for itself’. The practice assisted Société Générale Asset Management (SGAM) in relation to the acquisition of 36 per cent of the share capital of Med Life, the largest provider of medical services in Romania. The transaction was valued at €20m. It also advised Campofrio Food Group, one of the world’s top five meat processors, in connection with the establishment of a joint venture with Caroli Foods, aimed at the consolidation of their Romanian meat products manufacturing business. Clients include the Ford Motor Company, E.ON, Rompetrol and Sumitomo Corporation. Gabriela Cacerea and Ruxandra Bologa are co-heads of the M&A department and are recommended. Senior partner Adriana Gaspar coordinates the corporate team and has ‘excellent knowledge’.

With sectoral experience which covers everything from retail to manufacturing, Tuca Zbarcea & Asociatii’s clients praise the firm’s ‘in-depth knowledge’ and ‘business acumen’. The practice is noted for its transactional expertise and has a strong energy client list. It worked on the implementation of the largest corporate restructuring in the energy sector with a view to setting-up two national energy champions, Hidroenergetica and Electra. The process includes a combination of spin-off and merger operations to be conducted simultaneously at the level of 17 different state-owned entities in the power and heat generation sector. On the M&A front, the firm acted for Noriel Group on the sale of a significant minority stake in its toy distribution business. CEZ and Interbrands Marketing and Distribution are important clients. Managing partners Gabriel Zbârcea and Florentin Tuca are highly regarded and find ‘the best business solutions’. Deputy managing partner Stefan Damian is also recommended.

Badea Clifford Chance has a full service corporate practice with particular expertise in acting for financial services clients and private equity houses. The firm also excels in the insurance sector. It assisted AXA in connection with the acquisition of the Omniasig life insurance company from Vienna Insurance Group as well as acting for Aviva in connection with the Romanian law implications of the restructuring of its world-wide insurance business. The practice was active in the healthcare field in 2010 and represented Mid Europa in connection with the proposed acquisition of MedLife, a local health services provider, as well as working with a large private equity fund in connection with the proposed acquisition of Unirea Medical Center. Daniel Badea and Nadia Badea are recommended; they are praised for their ‘excellent technical skills, drive and dedication to their clients’.

Gide Loyrette Nouel has particular expertise acting on complex transactions for large multinational clients, often operating in highly regulated sectors. The practice advised the International Finance Corporation (IFC – the World Bank’s investment division) on the partial divestment of its stake in the medical care services company MedLife by way of a transfer to a private investment fund. Following the legal assistance provided to Groupama on its acquisition of two Romanian insurance companies, BT Asigurari Transilvania and Asiban, the firm advised Groupama on the restructuring of its Romanian subsidiaries. The practice handled all the corporate and regulatory matters of the merger process (including the application for approval by the Romanian insurance sector regulator) and advised on all post-merger issues. Managing partner Bruno Leroy is the main contact for corporate work.

Clients praise the ‘excellent practice’ and ‘market knowledge’ of the corporate team at Popovici Nitu & Asociatii. The firm has particular expertise in real estate transactions as part of a broader corporate offering. It acted for Asseco Group, one of the largest IT companies in Central and Eastern Europe, on the acquisition of the majority share stake in Probass, a key player on Romanian software industry, in a transaction exceeding €10m. It also worked on the merger and complete integration of Net Consulting, the largest IT integrator in Romania, and Fiba Software (one of most prominent players in banking software in the country). In the energy sector, it acted for Property Fund in relation to the €230m sale of its participation in CEZ Vanzare and CEZ Distributie, the largest electricity distributor in Romania. Florian Nitu is recommended; Silviu Stoica is ‘professional, experienced and knowledgeable’.

Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP has a strong transactional practice with an emphasis on financial services and private equity clients. The firm is praised for its ‘commitment, knowledge and quality of advice’. It acted for Advent International in relation to the acquisition of a majority stake in Centrul Medical Unirea (CMU), a leading chain of medical clinics in Romania, from the private equity company 3i and the founders of the business in a very competitive sale purchase. In the finance field, the practice represented EFG Eurobank Group in connection with its acquisition of minority shareholding stakes in Bancpost as well as representing private equity player 3TS Cisco Growth Fund in connection with the acquisition of a minority stake in Internet Corp, a Romanian-based online media company. Costin Taracila and Mihai Ristici are praised for their ‘dedication and pragmatism’.

Clients are impressed with the ‘good knowledge’ and ‘appropriate advice’ offered by the corporate team at Salans. Energy and real estate matters are areas in which the practice excels. The firm is acting for GDF Suez on the Nuclear Power Plant Project at Cernavoda; it is also acting for the same client on the privatization of Termoelectrica. The firm also hired three new associates from competitors in Romania to work in the corporate department. Managing partner Anda Todor is recommended.

Markus Piuk heads up the corporate team at Schoenherr si Asociatii SCA and is praised for his ‘professionalism’. Clients are impressed with the firm’s ‘exceptional level of client responsiveness’ and ‘both practical and legally sound advice’. The practice advised Enterprise Investors (EI) on the acquisition of Profi Rom Food Group, one of the largest supermarket chains in Romania, by Polish Enterprise Fund VI, the private equity fund managed by EI. The transaction was valued at €66m. In the energy field, the firm represented Petrom in the acquisition of approximately 35 per cent of Petrom Moldova in a deal worth over €20m. In the insurance sector, the firm advised Vienna Insurance Group in relation to the sale of insurer Omniasig to Axa Group. Mihai Radulescu is recommended.

Clients are impressed by ‘quick response times, clearly expressed, detailed legal opinions and a practical, commercial approach’ at Biris Goran. The firm is well known in the market for its expertise in tax matters and real estate work. It acted as lead counsel to EU-based Bongrain, an international player in the milk-processing sector and which is traded on the Euronext Paris exchange, in its acquisition of a majority stake in Delaco, one of Romania’s main dairy product suppliers. The practice also represented Infopress Group, the largest printing company in partnering with private equity house GED, pursuant to a deal worth more than €12m. Daniel Visoiu heads up the corporate team and is recommended.

Bulboaca & Asociatii impresses clients with its ‘very good level of service’ and ‘promptness of response’. Transactional highlights included advising Wipro Technologies in connection with a transfer of undertaking in Romania as part of a multijurisdictional transfer from Alcatel Lucent. The deal was one of the biggest transfers of undertaking on the Romanian market, with more than 400 employees involved. In the energy field, the firm acted for Winstar Trading International in connection with the sale to Verbund of 100 per cent control in the project company developing a 50 MW wind project in Tulcea. The project value was estimated at €75m. Iulia Stoianof is praised by clients for her ‘intelligent approach’.

Clients rate the ‘business understanding’ of the corporate team at D&B David si Baias. The firm has particular expertise in competition matters. The practice acted for Caroli Foods, the second largest Romanian producer of cold cuts, in connection with the negotiation and implementation of a strategic joint-venture with Campofrio Food Group, one of the leading European groups. In the real estate field, the firm provided sell-side legal assistance to Avrig 35 on the disposal of Iris Shopping Centre in Pitesti. On general corporate matters, the firm’s clients include Philips and Samsung Electronics. Sorin David is ‘results oriented’.

Energy work is a key strength of the corporate team at DLA Piper Dinu SCA. The firm is advising Petrom in relation to the acquisition of a wind farm in Romania marking the company’s entrance into the renewable energy sector. In the FMCG space, the practice advised Kraft Foods on the sale of Cadbury’s Kandia-Excelent chocolate, soft cake and sugar confectionery business in Romania in the context of the back-to-back sales of two Cadbury businesses, one in Poland and one in Romania. Clients include Johnson & Johnson, Astra Zeneca, PCC and Unilever. Managing partner Marian Dinu is highly respected by clients and peers alike.

Lina & Guia SCA is a ‘firm you can trust to solve complex issues fast and provide timely advice’, according to one client. The firm’s corporate expertise includes telecoms and retail work. The firm advised Cosmote Mobile Telecommunications in connection with the acquisition of the Romanian mobile operator Telemobil which operates on the local market under the Zapp brand name. More recently, the practice advised Polish company Selena FM in connection with its expansion in the Romanian market by acquisition and consolidation of companies. Selena FM is active in the construction chemicals industry. 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’.

Noerr & Partners Law Office’s corporate practice in Romania is focused on large transactional matters for its multinational client base. The practice acted for Premium Aerotec, part of the EADS/Airbus Group, on a €90m greenfield transaction in Romania. The deal is the biggest investment in the aeronautic industry of Romania in recent years and is seen as a major step forward to the reindustrialisation of the country. The firm also advised Lidl in the acquisition of a major competing retail chain from the Tengelmann Group. Rusandra Sandu heads up the corporate team and is recommended.

Clients appreciate the ‘professional and positive approach’ demonstrated by the corporate team at Peli Filip. Energy and real estate work are areas of strength. The firm assisted GE Capital regarding its joint venture with Garanti Bank in relation to their financial services businesses in Romania – a bank and three financial services institutions in the consumer finance sector. The transaction involved complex regulatory banking, competition and corporate law advice. In the construction sector, the practice acted for Imtech – the large engineering group, acting through its Dutch holding – on the acquisition of Arconi, a Romanian construction technical services provider. Cristina Filip and Carmen Peli lead the team and are highly regarded in the market.

Reff & Associates is the correspondent law firm of global consulting giant Deloitte in Romania. The firm has significant expertise in financial services and real estate matters. The practice assisted a group of five banks as shareholders of RomCard, in the successful sale of the consortiums 100 per cent stake to Provus Services Provider, a firm with a solid track record in card processing sector. On the real estate side, it acted for New Europe Property Investments in relation to complex acquisition of European Retail Park Braila, including due diligence, preparation and negotiation of contractual documentation. The firm was lead counsel for the entire transaction coordinating Dutch and UK legal teams in the €63m deal. Alexandru Reff is the name to note.

Vernon | David counts Coca-Cola, Egnatia Bank, Dubai World, American Express Bank and Unilever among its client base. The firm acted for 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. In the natural resources field, the practice acted for global mining group Anglo-American on the possible divestiture of its operations in Romania. Managing partner Charles Vernon is the name to note.

Clients appreciate the ‘excellent business focus’ and ‘understanding’ of the corporate team at Voicu & Filipescu SCA. Real estate and energy transactions are two areas where the firm has significant expertise. The practice assisted Bel Rom in the sale of the European Retail Park, Braila, to New Europe Property Investments. The deal was valued at €63m. In the energy field, the firm assisted Electrawinds in the acquisition of wind farms in the Black Sea region and central-west region of Romania; advice covered due diligence, drafting and negotiating the transaction documents and post-closing assistance. Daniel Voicu and Mugur Filipescu lead the practice and are recommended.

Wolf Theiss has extensive experience in real estate, energy and logistics matters. Clients report that the firm has ‘good knowledge of the industries it works in and awareness of client needs’. The practice advised SNEF, a France- based leader in the electrical engineering, industrial processes and communications systems field, on the acquisition from Holcim Group Support of Ceprocim Engineering, a Romanian company specialised in electrical engineering, industrial processes and mechanical engineering. Managing partner Bryan Jardine is recommended.

Clients report that ‘the knowledge and service levels are excellent’ at Anghel Stabb & Partners. The firm is advising Express Cash Solutions on the establishment and subsequent development of a company specialised in providing independent ATMs. It is also acting for Clement Windows on the buyout of a minority shareholder as part of a group restructuring. David Stabb is popular with clients ‘due to his depth of experience in the region’.

bpv Grigorescu is known for its strong tax practice. The firm works with a number of multinational clients from different industries including advertising, automotive, communications, financial services and energy. Clients describe the firm as ‘very good’ and ‘highly recommended’. Representative transactions included acting for KWS Seminte on an intra-group merger with Dunasem. The project involved complex tax opinions and corporate restructuring. Alexandru Rusu heads up the corporate practice and is the name to note.

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 scene. The corporate practice is led up by Alexandra Necatu. Clients include Unicredit Consumer Financing and Clarima.

Clients appreciate the ‘good level of service and advice’ from the corporate team at Buzescu Ca. The firm has particular expertise in the aviation sector. It acted for low cost airline Wizz Air Group on corporate governance matters including dissolution of a Romanian subsidiary, registration of a Romania branch and regulatory issues. The practice also advised Menzies Aviation (Romania) on restructuring of the Romanian shareholding and registration of Romanian subsidiaries with the Register of Intra-Community Operators. Clients include Estée Lauder, Merrill Lynch Commodities, DB Commodities (Deutsche Bank), Statkraft, Gazprom, Travelport (UK) and Coca-Cola Romania. Peter Buzescu is a ‘good “bridge” between Western and Eastern Europe state of mind’ says one client.

Mirela Nathanzon heads up the corporate team at CHSH Gilescu & Partnerii S. C. A. Cerha Hempel Spiegelfeld Hlawati, which has particular expertise in agricultural matters. The firm advised Agri Consortium on its share capital increase and other corporate law matters, including various changes to its corporate structure. Clients report that the firm displays ‘an impressive level of practical knowledge and the ability to provide fast solutions in a reliable manner’.

E. Platis C. Bazilescu LLLP is the associated law office of consulting firm Ernst & Young. The firm’s clients include Citigroup, Enel, British Telecom, Mitsubishi, Erdemir, CISCO and Lufthansa. Recent M&A work includes carrying out an acquisition on behalf of Luxoft International Company. Eirinikos Platis is the key contact at the firm.

The corporate team at Kinstellar is ‘commercial, proactive and business oriented’ according to clients. The practice acted for RBS Sempra Energy Europe a UK-based commodities trader and joint venture between Sempra Energy, the listed US-based energy services company, and the Royal Bank of Scotland Group Plc, the listed UK-based banking and financial services group, on the Romanian law aspects of its sale to JPMorgan. The global value of the deal was $1.7bn. The firm advised Eureko in relation to the proposed acquisition of one of the leading players in the Romanian healthcare sector. Active clients include Garanti Bank, ENI and Türk Telekom. Daniel Torsher and Razvan Popa are the names to note.

Pachiu & Associates has extensive expertise, acting on complex, cross-border transactions and advising on a full array of deal structures, ranging from corporate governance and restructurings, to intricate joint venture deals and takeover procedures. Active clients include Michelin Romania, Immoeast, Bluehouse Capital, Emerson Corporation, Eurohold, Lürssen Shipyards and Tnuva. Recent transactions include acting for Bulgarian Group Eurohold to receive authorization from the Competition Council to go ahead with the potential purchase by Eurohold of the automobile dealer activity of IPSO the Romanian dealer for Renault, Nissan and Dacia. The practice also acted for Lürssen Shipyards on implementing a public-private partnership exit strategy regarding a military naval shipyard in Romania. Laurentiu Pachiu and Alexandru Lefter are the key contacts for corporate work.

Vilau & Mitel’s clients include domestic and foreign corporations, private equity companies, investment banks, local entrepreneurs and state-owned entities. Clients report that the firm is a ‘highly experienced, discrete and accurate M&A advisor; people you want batting for your side’. The practice is developing a name for itself in the media field. It assisted Mediapost in the €4.5m acquisition of a 60 per cent interest in Hit Mail. Mediapost is a member of the French group La Poste, the French postal service; Hit Mail is the top Romanian operator in the field of direct marketing and unaddressed mailing activities. The firm also advised GED Easter Fund II in connection with the acquisition of a majority stake in Infopress Group, the biggest printing house in Romania. The deal was valued at €12m. Dragos Vilau and Madalina Paisa are the names to note for corporate work.

White & Case, Pachiu SCA moved into the Romanian market in 2008 and is still in a development phase with regard to its corporate practice. Nevertheless, the firm has attracted significant work and clients include Delphi Corporation, Glaxosmithkline, Merck, Nabours Drilling International, Stanleybet, Procter & Gamble and Sanofi-Aventis. The firm advised Neusoft, an IT solutions & services company and the largest offshore software and service outsourcing provider in China, in connection with the acquisition of Sesca Group’s mobile phone software development and testing business operations in Finland and Romania. Lucian Bondoc leads a team of eight associates on corporate matters.

Despite its reputation as a leading disputes practice, Zamfirescu Racoti Predoiu Law Partnership still fields a strong team in the corporate arena. Clients praise the firm’s ‘excellent response time’ and ‘very good business knowledge’. The firm’s clients include Danone, Johnson & Johnson, Monsanto, Nord Gaz and Vimetco. The practice acted for Chimica Group regarding a corporate group restructuring. Chimica Group is an important player in the field of plastic products for the auto industry and has a total turnover of €35m. Ioana Racoti leads the corporate team and is recommended.

Ciurtin, Brasoveanu & Partners has three partners who practice from offices in Bucharest and Iasi. The firm’s corporate expertise includes drafting and implementation of joint venture agreements, company incorporation and dissolutions, mergers & acquisitions, spin off procedures, shareholders agreements, corporate disputes, structuring, drafting and reviewing domestic and international agreements and due diligence reports on corporate issues. Adrian Ciurtin is the name to note.

Deleanu Vasile – Lawyers is an 18-fee-earner practice headed up by senior partner Vasile Deleanu. The practice counts Sea Romania, IMSAT Romania and Romanian State Television Company TVR among its clients,

Adrain Roseti heads up the corporate practice at Drakopoulos Law Firm. The practice advised Reckitt Benckiser Romania on its merger with SSL Romania as well as acting on the reorganisation of the shareholders’ structure of Greenlake Development Romania. Other clients include CareerBuilder and Future Health.

Gruia Dufaut Law Firm specialises in representing French investors and companies who wish to operate in Romania. The 16-fee-earner team gives legal advice and assistance on matters relating to privatization, mergers and acquisitions, setting-up of joint-ventures and the incorporation of new companies.

J&A Garrigues SLP – Sediu Permanent has particular expertise in the renewable energy field and advises a number of Spanish investors who want to operate in the Romanian market. The practice assisted its client Infusion to implement the best corporate structure for the development of its activity within the Romanian energy market, taking into consideration the current status of the licensing procedures of its several wind farm projects. The firm’s involvement consisted in providing legal advice with respect to the best legal solution in order to transfer a large number of assets and licenses owned by a limited liability company, considering the current status of the licensing procedures of each of its several wind farms. Mihai Mares is the name to note.

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

Rubin Meyer Doru & Trandafir, SPCA is a US-based firm, which has advised on four out of the seven largest privatizations in Romania since 1989. It advised one of the world’s major telecom operators in regard to the largest foreign investment made in Romania since 1989, in the acquisition and privatization of RomTelecom, Romania’s fixed telephone service provider, including providing advice concerning the legal and regulatory issues involved in structuring the transaction and the complete due diligence examination of the company. The firm successfully stewarded the complex transaction through the Competition Council in a first-of-its-kind procedure that created the precedent for future applications before the Council. Corporate clients include the National Bank of Greece and Mega Image Supermarket chain.