The Legal 500

Within Banking, finance and capital markets, Clifford Chance is a first tier firm,

Clifford Chance Badea is ‘excellent’ and one of the ‘best firms in the market for banking, finance and capital markets work’. It advised Société Générale and Erste Bank on the establishment of the Romanian government’s €7bn medium term notes programme and its €1.5bn inaugural transaction. It also represented BRD – Société Générale as agent and lender in the refinancing of an existing €60m syndicated facility to Hidroconstructia, and acted for Unicredit, Raiffeisen Bank and ING Bank on a €150m-€200m proposed secondary public offer. Team head and managing partner Daniel Badea is ‘first-rate’. Other key individuals include Perry Zizzi and the ‘brilliant’ Cosmin Anghel.

Within Corporate and M&A, Clifford Chance is a second tier firm,

Clifford Chance Badea’s ‘very experienced’ corporate group advised Innova Capital on the acquisition of 96% of Provus Services Provider and its subsidiary, RomCard; Immofinanz on the €42m purchase of a 69.22% share capital in Adama Holding; and Sony Pictures Television on taking an equity stake in a Romanian TV advertising sales company. Practice head Nadia Badea and the ‘excellent’ Perry Zizzi are recommended.

Within Dispute resolution, Clifford Chance is a third tier firm,

Clifford Chance Badea has ‘an excellent reputation for disputes’. It represented Bioromoil in LCIA mediation and arbitration with one of its suppliers. It also advised a foreign national public authority on various matters relating to Romanian criminal proceedings. Managing partner Daniel Badea and Nadia Badea are recommended.

Within Energy and natural resources, Clifford Chance is a third tier firm,

Notable for its transactional expertise, Clifford Chance Badea advised EDP Renovavéis Assistance on obtaining EBRD and IFC financing for two wind farm developments. It also advised Gamesa on a wind farm acquisition. Daniel Badea is recommended.

Within IT, telecoms and media, Clifford Chance is a second tier firm,

Clifford Chance Badea advised Innova Capital on the acquisition of 96% of Provus Services Provider and its subsidiary, RomCard, a Romanian card-processing and e-commerce business. It also advised Sony Pictures Television on the acquisition of an equity stake in a Romanian TV advertising sales company. Daniel Badea is recommended.

Within Legal market overview,

Historically, firms such as Nestor Nestor Diculescu Kingston Petersen, Musat & Asociatii and Tuca Zbarcea & Asociatii have dominated the market, but these are now being challenged by firms including Peli Filip, Popovici Nitu & Asociatii, Voicu & Filipescu SCA, and Kinstellar, as well as Eversheds Lina & Guia, which is the result of recent tie-up between Eversheds LLP and Lina & Guia SCA. Other international firms such as CMS Cameron McKenna SCA, Clifford Chance Badea, Gide Loyrette Nouel, Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP and Salans are also a strong presence.

Within Public private partnership and procurement, Clifford Chance is a second tier firm,

Clifford Chance Badea’s ‘professional and client-oriented’ team advised Banca Comerciala Romana (BCR), Erste Bank, UniCredit and BRD – Groupe Société Générale on the €4bn infrastructure programme regarding the National Programme for Development of Regional Infrastructure of the Romanian Government (PNDI). It also advised BCR on the redevelopment of a Romanian regional airport.

Within Real estate, Clifford Chance is a third tier firm,

Clifford Chance Badea has ‘excellent’ knowledge of the local real estate market. It advised Immofinanz on the €42m buyout of Adama Holding’s remaining shareholders and acted for UniCredit Bank on a €45m development and investment loan facility for the construction of a retail centre in Craiova. Nadia Badea heads the practice.