The Legal 500

Within Banking, finance and capital markets, Popovici Nitu & Asociatii is a third tier firm,

Real estate finance and regulatory matters are the cornerstone of Popovici Nitu & Asociatii’s financial services practice. Asset-based finance is also an area of expertise. Clients report that the firm ‘provides excellent service both in terms of industry knowledge and responsiveness.’ The firm advised Asseco South and Eastern Europe in connection with €22m financing granted by EBRD as well as acting for Deutsche Leasing Romania in connection with dozens of asset based loans and financial leasing agreements concluded with various SMEs. On the capital markets side, the practice assisted Arcelor Mittal in connection with the voluntary public purchase offering regarding Romportmet and the anticipated squeeze-out of minority shareholders. Regulatory matters include acting for Ferratum Group in connection with the attempted setting-up and licensing of a non-banking financial institution granting loans via SMS and internet.

Within Corporate and M&A, Popovici Nitu & Asociatii is a second tier firm,

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’.

Within Dispute resolution, Popovici Nitu & Asociatii is a second tier firm,

Popovici Nitu & Asociatii significantly strengthened its litigation practice in 2010 by merging with disputes boutique Danescu, Danescu & Associates. Clients are impressed by the firm’s ‘appropriate strategy’; property litigation is an area of strength reflecting the firm’s broader profile. The practice is acting for Turkish investor Kastamonu Entegre in an $85m case against the Romanian State arising from a privatization agreement. It also represents French contractor Herve in a €20m dispute arising from unlawful termination of contract by one of its clients. Florian Nitu and Ciprian Dontu are the names to note.

Within Energy and natural resources, Popovici Nitu & Asociatii is a second tier firm,

Transactional work is an area of strength for Popovici Nitu & Asociatii. Clients welcome the firm’s ‘commercial and pragmatic approach’. It represents Arcelor Mittal on the Cernavoda Nuclear Power Plant project while, on the renewables side, it provided advice in connection to the merger of the Enel companies involved in Romania in the wind energy sector, Enel Green Power Romania and Electrogrup. The firm also has an active oil and gas practice; Primagaz Romania is a key client. Florian Nitu is the name to note.

Within IT, telecoms and media, Popovici Nitu & Asociatii is a first tier firm,

Described as ‘outstanding’ by clients, the IT team at Popovici Nitu & Asociatii has a strong practice doing commercial work for IT and telecoms providers. The firm’s clients include Orange, GTS Telecom, UPS, Hewlett Packard, Siveco Romania, Asseco Group and Scop Computer. It represented Innova Capital in connection with the successful acquisition, through GTS Telecom, of Datek Telecom, an independent provider of telecom services and in particular system integration services. It is also acting for Orange Romania with regard to an investigation launched by the country’s Competition Commission.

Within Public private partnership and procurement, Popovici Nitu & Asociatii is a first tier firm,

Public procurement contracts are a key strength for Popovici Nitu & Asociatii. The practice advised Wall Street Systems in connection with the negotiation of a public procurement contract awarded by the National Bank of Romania. It also represented Hewlett Packard (Romania) and SIVECO in relation an €86m contract for the IT Infrastructure of National Health Insurance House. In common with the other leading firms in this area, it is also active in contentious work for clients with public procedure disputes. It is acting for cleaning company Romprest in an administrative case against Romanian Television, the national state owned television company, arising from a public acquisition procedure.

Within Real estate, Popovici Nitu & Asociatii is a first tier firm,

Clients say the real estate team at Popovici Nitu & Asociatii operates to ‘the highest professional standards’ and is ‘deeply committed’ to their needs. The practice is equally strong across real estate finance, development and leasing work. It acted for Immofinanz in connection with the restructuring of its joint venture concluded with Trigranit, the buyout of Trigranit and subsequent development of Polus Constanta, one of the largest malls in Romania, in a €40m transaction. It acted for the same client on a similar transaction regarding the West Gate Retail Project in Craiova – a €10m project. On the development side, it represents SPD, a joint venture between Erste Bank/Sparkassen Immobilien and local entrepreneurs, in relation to the development and construction of SMART City Project, a €350m project in Bucharest which includes the Rompetrol Tower. Florian Nitu leads the practice and is praised for his ‘commercial understanding’; Valentin Creata is also recommended.