Commercial, corporate and M&A in Romania

Tuca Zbârcea & Asociatii

Tuca Zbârcea & Asociatii is 'the go-to firm of choice for corporate and M&A' deals, according to one client. It has a first-class corporate team that has been on an extremely strong transactional run, acting on some of the country's landmark deals. The practice has the depth to handle multiple transactions at the same time, often with a cross-border flavour and working side-by-side with leading international firms. The team has a strong bench of highly experienced partners including Stefan Damian, Sorin Vladescu, Cătălin Băiculescu, Cornel Popa, Silvana Ivan and Cristian Radu.


‘The firm has been more than an external counsel in the M&A transaction we’ve been working on together this year – they really have been part of our team. Extremely involved, available when needed, permanently reliable, superb depth and breadth of knowledge and skills.’

‘Tuca Zbarcea & Asociatii is the go-to firm of choice for corporate and M&A. Their advice is well-grounded, they provide solutions rather than citing from the law. The firm is head and shoulders above others in the market in what regards complex M&A, corporate restructurings, greenfield investments.’

‘Sorin Vladescu thinks like a businessman, is skilled at the negotiating table, client-friendly and has huge depth of experience. Very much on top of every detail.’

‘Stefan Damian has a productive and efficient working style, is a deal maker, reliable and accurate in his legal opinions.’

‘Cornel Popa is smart, calm and wise. ‘

Key clients

Vodafone Romania



Erste Bank Group / Banca Comerciala Romana (BCR)


Carrefour Romania

Al Dahra Agriculture LLC

The Rohatyn Group

Zeitfracht Group

Destinations of the World


IKB Deutsche Industriebank

Peeraj Brands International

Ringier Romania

Work highlights

  • Advising Vodafone on the Romanian aspects of its €18.4bn takeover of Liberty Global’s European operations, including local subsidiary UPC Romania.
  • Acting for Sanofi on the divestment of its European generics business, which included the delisting and sale of its Romanian subsidiary, Zentiva, to Advent.
  • Acting for the energy company CEZ on the divestment of its Romanian operations, including ten local companies and a wind farm portfolio.


CMS is a popular choice for domestic and international clients from across the corporate sphere. The firm is regularly involved in precedent-setting deals, both in the corporate and private equity space. As well as day-to-day commercial matters, the firm also advises on joint ventures and the local aspects of major cross-border deals. Horea Popescu leads the team, which also includes Rodica Manea and senior associate Mircea Moraru.

Practice head(s):

Horea Popescu


‘A very strong franchise in working with large internationals (especially  new market entries) and private equity firms (both buy and sell side).’

‘Did a very good job on a protracted transaction with a very difficult seller on the other side.’

‘Horea Popescu is one of the most prominent M&A lawyers locally.’

‘Mircea Moraru is a hands-on lawyer who provides elaborate and practical solutions even on short notice.’

Key clients

Liberty Global

Advent International


Alpha Bank


Innova Capital


Work highlights

  • Advised Liberty Global and its Romanian subsidiary UPC, on the Romanian aspects of the €18.4bn sale of its CEE assets to Vodafone.
  • Assisted Zentiva with the acquisition of Solacium, a Romanian pharmaceutical business.
  • Acted for Daewoo Shipbuilding & Marine Engineering on the sale of its 51% stake in an industrial shipyard on the Black Sea Coast.

Filip & Company

The market-leading corporate team at legacy firm PeliFilip stayed largely intact following the firm's split, the bulk remaining with Filip & Company. The team is led by the extremely well-regarded Alexandru Bîrsan, and includes managing partner Cristina Filip and Ioan Dumitrascu. The team is entrusted with significant roles on many of the country's largest M&A and private equity deals. It has strong relationships with major domestic and international clients across a range of sectors, including heavily regulated areas such as telecoms and energy.

Practice head(s):

Alexandru Bîrsan


‘Alex Birsan and his team have a very good understanding of the needs and interests of private equity clients. They were good a navigating difficult negotiations with a counterparty that did not have an experienced transactional lawyer, but rather a litigator with lots of opinions about how things should be done.’

‘They have problem solving abilities which come from their exposure to multiple M&A transactions. They put the client interest before their own ego and know when to take the steer and when to take one step behind.’

‘Alex Birsan is an experienced M&A lawyer who feels the status of a transaction, and relates well with the different people around the table.’

Key clients

Banca Transilvania


Tiriac Group

Bucharest Stock Exchange


Digi Communications


Kameran Financial Limited (Vladimir Cohn)

Arcelor Mittal

Holcim (Romania)

Continental Automotive

Steag Group

Inform Lykos

National Bank of Greece

Deutsche Beteiligungs

Work highlights

  • Assisting global steel manufacturer,Arcelor Mittal on the €740m sale of two Romanian companies to Liberty Group.
  • Advising a European construction materials company on its acquisition of a Romanian rival.
  • Assisting an international private equity fund with the potential acquisition of an energy distribution company.

Nestor Nestor Diculescu Kingston Petersen

Nestor Nestor Diculescu Kingston Petersen is a top destination for some of the market's largest and most complex transactions. This includes cross-border advice on group company business transfers, restructurings and M&A, as well as day-to-day commercial issues, where it is trusted by some of the country's largest companies. Key names in the team, which is 'composed of excellent professionals', include senior partner Adriana Ioana Gaspar, Gabriela Cacerea, Ruxandra Bologa and Adina Chilim-DumitriuRazvan Vlad and Corina Dumitru are other well-regarded practitioners.


‘The team is first of all composed of excellent professionals. But what makes the team unique is the blend of: the possibility to quickly understand the specific needs of the customer and adapt on the go, to work with the pace of the client, to make complicated legal matters understandable, to be practical and foresee the next steps.’

Key clients

ADM (Archer Daniels Midland)

Continental AG


Cognizant Technology Solutions Corporation

Nedelus and Cipca families

Cummins Generator Technologies Limited


Key Safety Systems Inc.




OMV Petrom


Pet Star Holding


Norofert Group

Work highlights

  • Advising Teva Pharmaceuticals on its complex Romanian restructuring including a de-merger and the divestment of part of its distribution business.
  • Assisting the Nedelus and Cipca families with the divestment of part of Wind Soft Grup and Wind Soft Systems, and the renegotiation of the initial terms of the sale purchase and joint venture agreements.
  • Assisting Cognizant Technology Solutions with its acquisition of a Romanian developer of end-to-end digital products, Softvision.

Popovici Nitu Stoica & Asociatii

Popovici Nitu Stoica & Asociatii has established itself as one of the most active transactional firms in the market, having handled a huge volume of M&A in the past decade. As well as strategic corporate investments, the firm is also highly experienced on the private equity side, as well as corporate real estate, and supporting areas such as capital markets, competition, regulatory and tax. Florian Niţu and Bogdan Stoica have developed very strong reputations. Managing associate Irina Ivanciu is also noted.

Practice head(s):

Florian Nitu; Bogdan Stoica

Key clients

DB Schenker


Oresa Ventures


Fondul Proprietatea/Franklin Templeton Investment Management

Orange Romania

US Ferro Corporation



Net Brinel

Continental Automotive GmbH

BRD Société Générale

Optical Network



Work highlights

  • Acted for Oresa Ventures, and its portfolio company Somaco Group, on the merger of three of its subsidiaries and the subsequent sale of the entire newly-merged entity to LaFargeHolcim.
  • Advising Optical Network, which owns 55 OPTIblu retail stores, on its takeover by Innova Capital.
  • Assisting IT company, Net Brinel, with the €10m+ sale of an 85% stake to the French group, Snef.

RTPR | Radu Taracila Padurari Retevoescu SCA

RTPR | Radu Taracila Padurari Retevoescu SCA is a leading player in the corporate and private equity market. The team attracts excellent feedback for the transactional support it provides to a wide range of clients, including strategic buyers and buyout funds. The firm's ability to handle complex cross-border deals is one area where it stands out. Costin Tărăcilă and Mihai Ristici lead a deep and talented team, which includes recently promoted partner Alina Stăvaru. Counsel Ianita Tui is also noted.


‘RTPR Allen&Overy has a great (possibly even unique in the Romanian market) combination of local and international legal experience, which makes them extremely useful to international companies operating in Romania or to local companies looking to internationalize or go into the M&A arena with international buyers/sellers.’

‘Proactive and very efficient. Excellent quality work, business oriented advice and exceptional approach in respect of each matter we entrusted to them.’

‘A complete team with great experience, very reliable and with a very comfortable approach for me as an unfamiliar client with the legal issues related to M&A.’

‘Costin Taracila is a true rainmaker, with very strong abilities to find solutions for closing deals.’

‘Alina Stavaru has a very strong commercial capacity, the dream teammate of any financial advisor.’

Ianita Tui always provided us with advice that fitted perfectly our business needs. Ianita is extremely proactive and sharp in negotiations.

‘Andrei Mihul’s speed and quality of execution outpaces more senior lawyers of the competitors.’

Key clients

Prime Kapital

Highlander Partnes

CEECAT Capital

Regina Maria

Mid Europa Partners


AROBS Transilvania

Enterprise Investors

Catalyst Romania

Work highlights

  • Advising Prime Kapital on the €112.97m sale of a real estate portfolio including nine retail centres to MAS Real Estate.
  • Assisting private equity fund Highlander Partners with its acquisition of a majority stake in the Ares Group, which is the leading private provider of interventional cardiology procedures in Romania.
  • Acting for Ceecat Capital on the sale of masonry company, Brikston Construction Solutions, to Austrian group Leier.

Bondoc si Asociatii SCA

Bondoc si Asociatii SCA fields a strong five-partner team, all with a strong grounding in major corporate and private equity transactions. The firm's clientbase comes from across a range of industries, and much of the firm's work has a significant multi-jurisdictional element. Lucian Bondoc leads the team, which also includes Cosmin StavaruMonica Iancu and Mihaela Bondoc.

Practice head(s):

Lucian Bondoc


‘Provides deep analysis combined with clear practical guidance. Always very prompt, flexible and reliable.’

‘They have a very pro-business approach, reacting quickly, with a thorough legal analysis behind. The lawyers understand our business and are able to integrate this into their advice.’

Key clients

Mid Europa Partners



Johnson Controls



Sanofi Group

Astra Rails


Work highlights

  • Advised chemical business Oltchim on the €129m sale of nine bundles of assets in two separate transactions.
  • Acted for Mid Europa Partners on the €125m acquisition of Romanian courier company Urgent Cargus.
  • Assisted Fresenius Medical Care with the acquisition of two medical services companies.

Clifford Chance Badea

Clifford Chance Badea has developed a strong profile for high-end corporate and private equity mandates, typically with a strong cross-border element. The firm regularly advises on major buyouts, distressed business acquisitions, divestment and restructurings, and is also well equipped to support clients in ancillary areas. Nadia Badea leads the team, which includes well-regarded counsel Loredana Ralea and Mihai Macelaru.

Practice head(s):

Nadia Badea


‘The team is always willing to support your business, ready to help at any time and provide full support with any type of legal issue. When you have worked with them for many years over various M&A projects, and teams get to know each other as well as we do, collaboration becomes truly natural and it feels like one big team.’

‘Nadia Badea and Mihai Macelaru already feel like part of our own team, truly invested in the perfect functioning and management of every single project we did together. We very much appreciate their availability and dedication shown to us.’

Key clients

JC Flowers


Abris Capital Partners

Work highlights

  • Advised First Bank, which is owned by US investment fund JC Flowers, on its acquisition of Bank Leumi Romania.
  • Assisted Abris Capital Partners with its acquisition of a majority stake in Global Technical Group, a leading Romanian technology and security company.
  • Acted for REWE/DerTour group on the acquisition of the travel agency arm of Eurolines Romania.

Musat & Asociatii

Musat & Asociatii fields a team of highly experienced corporate advisers, well versed in high-profile M&A as well as day-to-day matters. Senior partner Gheorghe Muşat is a leading figure in Romania's legal market, and his team includes several well respected transactional lawyers including Răzvan Stoicescu, who also has good experience in private equity work. Monia Dobrescu, Iulian Popescu and Paul George Buta also have good track records.

Practice head(s):

Gheorghe Muşat


‘A very responsive and solution-oriented team, that applies both western standards and local knowledge.’

‘Razvan Stoicescu is an outstanding lawyer combining his great focus to details with a visionary approach to complex legal matters.’

Key clients

Damen Shipyards Group

A&S International

Wellbore Integrity Solutions/Rhône Capital (drilling)

Spectrum Brands Unit

Brookfield Business Partners LP

Emerson Electric Co. and its affiliates

Nokia / Alcatel – Lucent SA

SIF Transilvania

Novares Automotive Romania

Teconnex Europe

CNS Communications East Europe SRL

Amazon Inc.

Flint Group

Abbvie Inc.

Future Healthcare

Innovation Norway


Work highlights

  • Advising Moons’, a manufacturer of motion products, on its acquisition of Technosoft Motion and its business in Romania.
  • Assisting RheinMetall Man Military Vehicles and MHS Truck & Bus with the formation of a joint venture to participate in an €800m public tender for the supply of military vehicles to the Romanian army.
  • Acting for Damen Shipyards Group on its acquisition of the Mangalia Shipyard, one of the largest in Romania, from Daewoo Shipbuilding &  Marine Engineering.

Reff & Associates SCA

Reff & Associates SCA 'reacts quickly to client engagements and ad hoc requests'. It is a popular choice for day-to-day commercial advice and high-end transactional matters. The full service nature of the firm's impressive offering is compounded by its association with Deloitte. In recent work, the team was involved in several major deals in the industrial, transportation and logistics sectors. Alexandru Reff and Georgiana Singurel are both very active in this area, and senior associate Cezara Szakacs is popular with clients.


‘The team can react quickly to client engagements and ad hoc requests.  Also they have good knowledge of key corporate law matters.’

‘Georgiana Singurel really stands out because of her capacity to fully think along with her client. She always looks for possibilities and ways of getting the deal through. Her genuine interest and involvement is highly appreciated. Also she is fun to work with.’

‘Cezara Szakacs stands out because of her clear way of communications. When receiving  advice from her, it is always comprehensible and complete. Also she is available and committed and honours agreements.’

Key clients


Argo Group

Orbico Group

Damen Group

ADC Blackfire Romania




Ben Martens & Samsic

Work highlights

  • Advised Chimpcomplex on the €164m financing required for its acquisition of the assets of Romanian state-owned chemicals company, Oltchim, which was in insolvency.
  • Assisted Orbico Group with its multimillion-euro acquisition of Romanian rival, Interbrands Marketing & Distribution.
  • Acted for packaging and printing company, Ganahl, on its acquisition of a majority stake in Luna Transilvania Pack and Print.

Schoenherr si Asociatii SCA

Schoenherr si Asociatii SCA has an excellent foothold in the region, with the Bucharest office being one of the key players in the local market. The firm offers a seamless service on major cross-border deals in the CEE and beyond, and has a strong blend of international and local partners who are highly regarded by clients. Markus Piuk divides his time between Austria and Romania, and leads the team with local partners Madalina Neagu and Monica Cojocaru. Finance partner Matei Florea is also recommended.


‘The practice has a long experience in M&A which stands out in the quality of the technical documents produced. It has a flexible approach in dealing with both English and Romanian law rules. They work in a team in a non-hierarchical way, which bodes well for the atmosphere.’

‘The team is led by Markus Piuk, who splits his time between Vienna and Bucharest. This makes him have a clear idea of what foreign investors into Romania want – looking into Romanian matters from a broader perspective helps reaching solutions to problems which may appear insurmountable locally. In addition, the team has the necessary size and depth which made us comfortable giving also parallel assignments (ie in ECM and M&A) to them.’

‘Madalina Neagu always impresses with her pragmatic and professional approach to the legal matters. She is non-threatening to the other party and still assertive, which is a rare combination. Highly recommended.’

‘Monica Cojocaru is a strong, efficient lawyer who focuses on what really matters and communicates well. ‘

‘Matei Florea is exceptional, with commercial understanding, good knowledge of the banking scenery in the country and deep experience in M&A transactions.’

Key clients



Jones Lang LaSalle Group

Shareholders of Frufru brand

Telefonaktiebolaget LM Ericsson

United Petfood Production

Waterland Private Equity NV

Work highlights

  • Advised Ericsson on the Romanian aspects of its cross-border acquisition of Kathrein-Werke, the world’s largest manufacturer of antenna systems.
  • Advising Jones Lang LaSalle, on the sale of its Romanian property management business, as part of a broader regional sale, to MVGM.
  • Assisted AkzoNobel with the acquisition of paint and plaster manufacturer, Fabryo Corporation, from Swedish investment fund Oresa Ventures.

Wolf Theiss

Wolf Theiss has one of the most active transactional teams in the market and works closely with lawyers in the firm's Austria office and wider CEE network. Ileana Glodeanu is very well regarded by clients, which include major corporates and private equity funds. Other key team members include managing partner Bryan Jardine, who has over 30 years' experience in the market.

Practice head(s):

Ileana Glodeanu


‘A top class firm in Romania and the team is very well managed.’

‘Ileana Glodeanu goes the extra mile to deliver thoughtful and comprehensive advice and manages her team very well. ‘

Key clients

The Blackstone Group International Partners LLP

Cerberus Capital

Domaine Vinarte SRL

ERGO Group

Federal-Mogul LLC

General Electric


Johnson Controls International plc

Lagardere Media

Liberty Global Transaction Solutions


Merck & Co., Inc.

Osram Licht AG

Revetas Capital Advisors LLP

Work highlights

  • Advising Blackstone on the €175m acquisition of shares in online gambling and casino company, Superbet, which has 15 businesses in Romania.
  • Advising SIA on the €375m acquisition of First Data’s card-processing businesses in Croatia, Serbia, Hungary and Romania.
  • Assisting Hemisphere with the restructure of its furniture retail affiliates Kika and Leiner, which operate throughout Austria and CEE.

D&B David si Baias SCA

D&B David si Baias SCA is a key name for mid-market transactional work. In recent work, it has been very active in the healthcare sector, and represented several entrepreneurs on the respective multimilllion-euro sales of their businesses. As the legal branch of PwC, clients inevitably benefit from the firm's broad range of advisory services. Managing partner Sorin David and corporate head Anda Rojanschi are the main contacts.

Practice head(s):

Anda Rojanschi; Sorin David


‘What is unique about D&B DAVID si BAIAS is that the firm and the lawyers always try to understand the needs of the clients even before the clients make a request. The services provided are always tailor made, always taking into consideration the budget of its clients.’

‘The lawyers do their best to get back to their clients in the quickest and most satisfactory way possible, allowing the clients to work on and examine various versions and drafts of documents within a limited time, before the final version is completed.’

Key clients


Ipsos SA

Genome Genetics

CRH Ciment

Bayer Monsanto



Epta SpA


M7Group/CDS Holdco



Direct One


Nordic Import Export



Spital Premiere


Work highlights

  • Assisting the founders and majority shareholders of pharmeceutical distributor, Farmexim, and pharmacy chain, Helpnet, with the multimillion-euro sale of their shares to Phoenix, a German healthcare group.
  • Advising Ipsos, on the acquisition of the Romanian branch of Clintelica, a Swedish software developer.
  • Acting for shareholders in two companies in the medical sector – Genome & Genetics SRL and Genetic Center SRL – on the sale of their shareholding to Regina Maria, a major Romanian private healthcare network.


Dentons' Bucharest office forms an increasingly important cog in the firm's broader regional offering. The team, led by new practice head Cristina Daianu, works closely with other parts of the network on major international transactions. As the firm invests more heavily into Romania, the group is also becoming an increasingly popular destination for standalone domestic corporate work.

Practice head(s):

Cristina Daianu


‘Dentons delivers high quality and timely legal advice. They have excellent expertise and knowledge of the market as well as of the relevant legal framework.’

Key clients


CEE Equity Partners


Kohlberg Kravis Roberts



Metro AG

Fondul Proprietatea

FMC Corporation



Work highlights

  • Advised hotel group, Orbis, on the separation of its real estate assets from its service business, and the subsequent sale of its service business to Accor hotel group.
  • Acted for market research company GfK, on Romanian aspects of the €105m sale of four of its global divisions to Ipsos.
  • Assisted CEE Equity Partners with the acquisition of 15 grain silos and a logistics hub from Brise Group.

DLA Piper Dinu SCA

DLA Piper Dinu SCA is noted for its commercial expertise across several industries, including life sciences, technology, agribusiness, energy, financial services, retail and consumer goods. The team is highly experienced in major cross-border deals and is singled out for its understanding of the private equity and venture capital space. Marian Dinu leads the team, which also includes the well-regarded Cristina Bucur.

Practice head(s):

Marian Dinu


‘Very high-quality legal practice, balancing strong legal skills with a commercial outlook, in a complex environment. Very strong on complex commercial and corporate matters.’

‘DLA Piper Bucharest is one of the very few law firms on the local market with experience in venture capital.’

‘They are always there whenever we need them. Their reactions are timely, competent, their advice is sound, their attitude is positive. They are our trusted partners. I recommend them to all our business partners.’

‘Cristina Bucur is an excellent lawyer, highly-responsive, with great attention to detail. A pleasure to work with.’

Key clients

Bank Leumi Israel

Desleeclama Solutions

Rabo Investments

Centrade U.S.A.

Asmodee Group


Early Game Partners BV;  Early Game Advisors

Fintech OS


RideSafe Technology

Abris CEE

TMF Management

Medijobs Platform

Top Level Hosting

Dante International

Work highlights

  • Advising Bank Leumi Israel on the sale of its entire stake in Leumi Bank Romania to First Bank.
  • Acting for Australian online travel business Webjet on the Romanian aspects of its $173m acquisition of the travel company, Destinations Of The World.
  • Advising private equity fund, Abris CEE Mid-Market Fund III, on its acquisition of Dentotal Protect, a leading Romanian distributor of dental equipment and consumables.


Kinstellar offers a high-quality corporate service, both as a day-to-day adviser on domestic commercial issues of every stripe, and as transactional counsel on complex M&A. The firm's independent network of offices in Eastern Europe and Central Asia makes it an attractive hub for major cross-border deals, of which the Bucharest office is a key component. Razvan Popa is noted for his corporate and private equity expertise.

Practice head(s):

Răzvan Popa


‘The team performed in a highly proficient way. They were all dedicated and well-prepared.’

‘Razvan Popa is a true professional, devoted entirely to his clients.’

Key clients

Liberty Steel

Leo Pharma


Inteva Products

Industrious National Management Company

Acquisition Services Limited

Promat Comimpex and Agroind Cauaceu

Alychlo/Ceres Pharma NV

Pandora Media Inc.

Idera Inc.


Inteva Products

Nestlé Romania


Cerner Romania

Dow Chemicals


Work highlights

  • Advised UK steelmaker, Liberty Steel, on the Romanian law aspects of its acquisition of ArcelorMittal’s European assets, including a steel factory in Galaţi.
  • Acted for Leo Pharma on its acquisition of Bayer’s global prescription dermatology business.
  • Acted for the agricultural company, BriseGroup, on its agreement with CEE Equity Partners for the modernisation, integration and development of 15 grain silos and logistics hubs.


Noerr has a solid reputation for cross-border corporate and private equity advice. The firm has been involved in several significant deals in the telecoms, technology and retail sectors, and the Bucharest team works closely with colleagues in the wider CEE network. Rusandra Sandu has over 20 years of experience advising on corporate and related competition matters.

Practice head(s):

Rusandra Sandu


‘Rusandra Sandu and Carmen Mazilu are great professionals to work with in terms of Corporate Finance, M&A, and Tax.’

‘Stands out for their international take on the transaction and the overall big picture, while still paying attention to detail’.

Key clients

Skyview Capital LLC

Harman International Industries

Nidec Sole Motor Corporation

Samsung Electronics

Daimler/Intelligent Apps

Messer Group

Bristol-Myer Squibb


Frontmatec Group

Peikko Group Corporation


Kathrein SE

Work highlights

  • Advising a German communications company on the multimillion-euro sale of its mobile networks antenna business to Ericsson.
  • Advising real estate investors, Signa Group, on the multimillion-euro acquisition of furniture chain Kika/Leiner, including Romanian subsidiaries.
  • Acting for Skyview Capital on the Romanian aspects of its acquisition of several customer care assets from Conduent.

Suciu Popa

Suciu Popa is 'highly experienced in all areas of commercial, corporate and M&A'. It has made a strong impression on the market, picking up several high-profile corporate and private equity-related mandates. The firm has a particularly strong profile in the energy sector, though it has also been involved in significant deals in the IT and consumer goods industries. Miruna Suciu, Cleopatra Leahu and Dan Ciobanu are key names.

Practice head(s):

Miruna Suciu; Luminita Popa


‘The firm is highly experienced in all areas of commercial, corporate and M&A. The advice they provided was on point and offered practical solutions to complex legal matters. We especially appreciated their partners’ hands-on approach throughout the entirety of the projects, the swift responses and actions, as well as the very good communication they maintained with us at all times.’

‘Miruna Suciu  is a highly skilled professional who offers clear advice and anticipates the client’s needs. Her business acumen and knowledge about the relevant market gave us full confidence that our projects will be successful.’

‘Mihai Caragui is expert in M&A, providing us fast and comprehensive support in all matters.’

Key clients

Mercedes-Benz Romania

KMG International

Central Bottling Company

Bolt (Taxify)


Black Sea Oil & Gas

Muller Dairy

Rompetrol Rafinare

Enel Investment Holding

SIF Transilvania

Enel SpA

Helix Oilfield Services

Romanian Banks Association

Romanian Commodities Exchange (Bursa Romana de Marfuri SA)

E-Distributie Muntenia, E-Distributie Banat and E-Distributie Dobrogea

Enel Green Power

Grampet/Gup Servicii Feroviare

Hunt Oil Company of Romania

Mazarine Energy


Oilfield Explorations


Work highlights

  • Advised KMG International on the creation of the Kazakh-Romanian Investment Fund, which is intended to promote investments in various sectors of the local economy, including energy and infrastructure.
  • Assisted Enel with the corporate restructuring of all of its Romanian power distribution, supply and renewables subsidiaries, with a view to a possible sale.
  • Acting for Israeli drinks producer, Central Bottling Company, on its acquisition of Molkerei Alois Müller’s minority stake in Muller Dairy Romania.

Biris Goran SPARL

Biris Goran SPARL has an experienced M&A team that acts for a domestic and international client base. Corporate real estate drives a large part of group's work, which also stands out for its tax structuring expertise. Teodora Moțatu and Ana Frațian jointly lead the team.

Practice head(s):

Teodora Moțatu; Ana Frațian


Well experienced with international instructions, excellent English, very friendly service, hard working, responsive even late night and during weekends.

Key clients

Global Vision


Ceminter International

Zeus International

Liebrecht & Wood

One United Properties


Work highlights

  • Advised Romanian real estate company Global Vision on establishing a joint venture with Globalworth to develop logistics and industrial projects in Romania.
  • Acted for CloudTreats on the sale of its local subsidiary food app developer company to Delivery Hero.
  • Assisted the majority shareholder in Ceminter International, a cement terminal owner in Constanta Port, with its merger with ports operator Decirom.

bpv Grigorescu Stefanica

bpv Grigorescu Stefanica's clients benefit from the firm's wide-ranging commercial practice, which handles corporate governance, restructuring, M&A, consumer protection and further day-to-day issues. The team has a strong client base in the TMT and manufacturing sectors. Cătălin Grigorescu  and Alexandru Rusu  jointly lead the well-regarded team. Senior associate Dan Curiciuc is also singled out for praise by several clients.


‘The team instantly understood our requirements and the transaction was very smooth. The communication with our team was exemplary and we could tell at each stage where we are and what needs to happen to complete the project.’

‘Catalin Grigorescu sees beyond the legal requirement and is keen to make the business happen.’

‘Dan Curiciuc is very considerate of all possible implications and steers the project confidently away from roadblocks.’

Key clients


Signify Romania


Green Grid

WBV Weisenburger Bau

Google LLC



VTG Rail Logistics


Richina Pacific (China) Investment Ltd

Work highlights

  • Advising Beiersdorf on a broad range of issues including interaction with the consumer protection authority in relation to its products.
  • Acting for lighting products company, Signify Romania (formerly Philips Romania) on day-to-day, regulatory, and transactional matters.
  • Ongoing advice to Weinerberger on various internal corporate changes and the impact they might have on the permits and licenses the company holds.

Buzescu Ca

Buzescu Ca is making an increasingly strong impression on the market and is the corporate adviser of choice for several major Fortune 500 companies. The firm acts for several big names in the energy, aviation, tourism, and manufacturing sectors. Name partner Peter Buzescu and Adrian Tomescu are very popular with clients, as is associate Corina Papuzu.

Practice head(s):

Peter Buzescu


The firm provides a highly professional, flexible, valuable service for reasonable prices.’

‘The team is extremely professional, always proactive and helpful with the legal matters we presented to them.’

‘Their strength is definitely that they always work very fast, they deliver on deadlines and they have a very straightforward way of following up on tasks. They provide the necessary information – not too little, not too much. They simply get to the point and execute. Very good co-operation partners.’

‘Adrian Tomescu is a young professional, with deep knowledge of the sector, he is always at our disposal for quick advice and consultation on a short notice.’

‘Corina Papuzu is always prepared with the most complete and documented solution for our questions/issues. She has great communication skills and is very knowledgeable on corporate and commercial practice.’

Key clients


Wizz Air




EDF Trading



Central European Drilling

Work highlights

  • Advised Danfoss on the Romanian aspects of its takeover of Sondex, including one of its domestic subsidiaries.
  • Assisting Wizz Air with the registration of its Romanian branch and the deregistration of a tour operator.
  • Advised Travelport on the restructing of two of its Romanian subsidiaries and the acquisition of the Romanian assets of a leading European online hotel booking company.

Eversheds Sutherland Romania

Eversheds Sutherland Romania was involved in over €200m worth of M&A and private equity deals recently, acting for buyers and sellers from a range of industries, including consumer goods, automotive, insurance, and pharmaceutical. The firm also provides strong corporate support on various matters including intra-group reorganisations and share capital changes, and also assists with negotiating shareholder agreements. The team is jointly led by managing partners Mihai Guia and Cristian Lina.

Practice head(s):

Mihai Guia; Cristian Lina


‘They are young, energetic, friendly but still have a professional and serious attitude. This is great mix that matches very well with our preferences.’

Key clients


Unilever Group

Premium Porc

Federica Mapelli




TELUS International

Autoliv Group

GES Event Intelligence AG

Parker Hannifin


Kambi Group plc


Food Union

Clarke Energy

Sika AG


Work highlights

  • Advising automotive company, ZF Friedrichschaften, on its acquisition of the automation business of Beespeed Automatizari.
  • Assisting Unilever with the €120m acquisition of Betty Ice, Romania’s largest ice cream manufacturer.
  • Acting for a logistics company on its takeover of a leading distribution company in Romania.

Leroy si Asociatii

Leroy si Asociatii has strong connections to the French market and acts for some of the largest French companies operating within Romania. The firm has good experience advising corporate clients from across a range of industries, including manufacturing, retail, energy and automotive. Bruno Leroy and Andreea Toma are highly regarded.

Practice head(s):

Bruno Leroy; Andreea Toma


‘Leroy si Asociatii is a practice which can cover most external advice needs with great skill and a very personable approach. The team has extensive knowledge of the areas and can be relied upon to address even the most intricate issues in a creative and diligent way which results in excellent service delivery.’

‘Andreea Toma is a partner with remarkable mastery of the field and who makes you feel that no stone was left unturned when giving advice on the matters entrusted to her.’

Key clients

Groupe Guillin


Visualis / Store Building Partners S.R.L.

Suhali / Store Building Partners S.R.L.

Vinci Energies


Louis Vuitton

Servier Pharma

Sermedic SRL

Work highlights

  • Advising plastics producer, Groupe Guillin, on the acquisition of two Romanian companies: Thiolat Transilvania and Thiolat Imobiliare.
  • Acting for Lacoste on the sale of its Romanian subsidiary, Trans Euro Textile.
  • Assisting French design services company, Visualis, with its acquisition of a minority stake in the office furniture retailer, Store Building Partners.

MPR Partners

MPR Partners | Maravela, Popescu & Roman is a popular choice for day-to-day commercial advice, and the firm's corporate lawyers are increasingly involved in major M&A, such as the Oltchim asset buyout. The team has particularly strong expertise advising clients in the pharmaceutical, healthcare and energy sectors. Gelu Maravela, Alina Popescu and Dana Rădulescu have established good reputations in the market.


‘We highly appreciate the quality of their service, their multidisciplinary approach that suits our needs excellently, as well as their really prompt feedback. Their sector knowledge is spot on, we are very satisfied with their work.’

‘Excellent expertise, competent, reliable, fast, and friendly.’

‘Founding partners Gelu Maravela and Alina Popescu are excellent team leaders, very skilled and with a hands-on approach, whilst Dana Radulescu has a wealth of knowledge and a sound business approach.’

Key clients

AFC Rîureni

Astra Holding

B Braun Avitum

Betty Ice



Janssen de Jong

Mango (Punto FA)

Precision Medicine Group

Nederlandse MKB Participatiemaatschappij Holding B.V.


Work highlights

  • Advising chemicals company, Chimcomplex, on the €127m acquisition of the majority of Oltchim’s business assets.
  • Assisting a major shareholder of Nordic Petfood Group with the company’s €48m sale to United Petfood.
  • Advising Precision for Medicine on its multimillion-euro cross-border acquisition of clinical trials specialist, Argint International.

Radu si Asociatii SPRL

Radu si Asociatii SPRL has a strong commercial offering and provides a mix of transactional and day-to-day advice. The firm acts for a mix of international and domestic companies and investment funds, which also benefits from the firm's partnership with EY Romania. Dragoș Radu and Radu Diaconu lead the team, which also includes highly rated managing associate Stefan Mantea.

Practice head(s):

Dragos Radu; Radu Diaconu


‘The firm is extremely efficient, dynamic and to-the-point. It is clearly motivated to take up new challenges for a variety of clients and domains.’

‘Radu si Asociatii SPRL is one of the most client-centric law firms we ever worked with. They are flexible, knowledgeable and solutions oriented. The team works really fast and accurately. For every project, the team understood (in no time) our business needs and proposed appropriate and pragmatic legal solutions. During all implementation phases, they acted impeccably.’

‘Radu Diaconu and Stefan Mantea are responsive and prudent leaders of the legal team. They have complete knowledge of the market and understand the client’s needs very well.’

‘Stefan Mantea is a bright lawyer with solid legal knowledge and business sense. He provides excellent legal advice, in a timely manner.’

Key clients

Nordic Petfood Production and Nordic Petfood Distribution

DAAS Impex

Globant Espana

Polaris Management

European Bank for Reconstruction and Development

Ebm – Papst Automotive & Drives Romania

Waters Corporation

Arysta Lifescience Romania

Honeywell Corporation

Work highlights

  • Advised the shareholders of DAAS Impex, a commercial refrigeration company, on the sale of a €6m stake in the business to Italian company, Epta.
  • Acted for Globant Espana on its indirect acquisition of a Romanian IT developer.
  • Acted for Danish private equity company, Polaris Management, on a legal review of the government grants received by its Romanian portfolio companies.

STALFORT Legal. Tax. Audit.

STALFORT Legal. Tax. Audit. is well known for its core focus on German and German-speaking clients. The firm provides a full-service corporate offering, with three offices in Romania, and has been involved in several mid-size cross-border M&A deals in the past year. Raluca Oprisiu and Carmen Lupsan are the main contacts for corporate work.

Practice head(s):

Raluca Oprisiu; Carmen Lupsan


‘The cooperation is excellent. This is especially due to the pleasant way of approaching the problem together but also due to the high level of professional competence.’

‘STALFORT Legal.Tax.Audit  offers a full service  covering corporate law, mergers and acquisitions, private equity, corporate governance and commercial work. All the lawyers have a thorough understanding of the challenges presented by doing business in the region. The staff are dedicated to committing their resources on behalf of their clients to achieve the highest standards of good governance, through effective tailor-made solutions.’

‘Raluca Oprisiu has a German PhD and LL.M. and therefore a deep understanding and ability to implement our needs in Romanian practice. We have worked together 10 years and she always does a fantastic job. Moreover her language skills – particularly her German and her English are exceptional.’

‘Christian Weident and  Carmen Lupsan think outside the box and provide custom solutions.’

Key clients

Dr. Oetker Group



Rohrer Group

Swoboda Group

Telenav, Inc.

Kathrein Group

FIWA Group

Schwerdtfeger Group

VAT Vakuumventile

Kendrion Group (previously Kuhnke)


SGB Group



BAUER Spezialtiefbau Ges.m.b.H.

Hootsuite Inc./ Hootsuite Romania

Work highlights

  • Advised Dr. Oetker on its acquisition of a majority stake in Panovia Prod, a family-owned manufacturer of frozen pastries.
  • Acting for Telenav, a mobility software company, on the Romanian aspects of its strategic partnership with Singaporean company, Grab, to boost the development of geo-based services using Telenav’s ‘OpenTerra’ platform.
  • Assisted Rohrer Group with its acquisition of an offshore maintenance, operation, catering, cleaning and decontamination business from Rig Service and Grup Petrol Marin.

Voicu & Filipescu SCA

Voicu & Filipescu SCA has a broad offering in the corporate space, handling day-to-day matters as well as high-end M&A, spin-offs, minority investments and restructurings. The team is also regularly referred transactional work by major international firms. Daniel Voicu, Mugur Filipescu and Marta Popa are the main contacts in this area.

Key clients

Bel Rom

Dell Services

General Electric Medical Systems


Nabors Drilling

Rewe Romania

Instant Factoring

Goodyear Dunlop Tires

Nordic Group

Work highlights

  • Advising DuPont Exim on the transfer of its pastry business to Romanian food distributor, Nordic Import-Export.
  • Acting for a group of Romanian and foreign entrepreneurs on the establishment of a fintech microfinancing platform.
  • Advising OTP Bank on its ultimately aborted takeover of Banca Romaneasca from the National Bank of Greece, a deal that was rejected by the National Bank of Romania.


Volciuc-Ionescu has a seven-strong team of corporate lawyers with a good track record for advising on major investments in the energy sector, including both renewables and oil and gas. The team, which is led by the highly regarded Ramona Volciuc-Ionescu, also advises clients in the mining, technology, automotive, healthcare and technology sectors.

Practice head(s):

Ramona Volciuc–Ionescu


‘Volciuc Ionescu is a top adviser in the Romanian M&A market, particularly for complex transactions where their business understanding of the legal aspects make them stand-out. In general, we very much appreciate their responsiveness, commitment and their practical and to the point advice.’

‘The firm, albeit rather new, has managed to place itself as one of the most experienced in the field of M&A, advising on large and complex transactions, and have been involved in many of the major deals in Romania.’

‘Ramona Volciuc is an amazing M&A lawyer, always helpful with tailor-made solutions, with an in-depth understanding of our needs. She gives clear guidance in difficult situations.’

Key clients

Prospex Oil & Gas plc

Schmid Industrieholding

Varroc Group

Western Union

AdsWizz Inc

Sinohydro Holding (Hong Kong)

Montana Energy



British Foam Grup

Work highlights

  • Advised Thetis Capital on several acquisitions in the renewable energy sector, including its takeover of the Moara biogas cogeneration plant from the Spanish private equity fund, GED.
  • Advising Prospex Oil & Gas on the acquisition of its first petroleum block in Romania from Raffles Energy.
  • Acting for renewable energy company, Montana Energy, on several acquisitions in the sector.

Boanta, Gidei & Asociatii SCP (in association with CEE Attorneys)

Boanta, Gidei & Asociatii SCP (in association with CEE Attorneys) acts for clients across a range of sectors including manufacturing, food, retail, gaming and the fintech and financial services industries. The firm is also noted for its strong niche in the transportation and logistics sectors, where it recently advised on several high-profile transactions. Nicoale Ursu, Sergiu Gîdei and Radu Boanță are all very active in this space.

Practice head(s):

Nicolae Ursu; Sergiu Gidei


‘We were really impressed both by their knowledge of the Corporate and M&A industry and how they dealt with our projects.’

‘A great team – all contacts are efficient and friendly. Give clear advice and really help sensible decision-making.’

‘I would recommend Radu Boanta and Nicolae Ursu to any business needing experienced and knowledgeable corporate attorneys. They bring a methodical analysis based on solid and up-to-date information of the legislation interpretation in this field, and a meticulous and flexible approach.’

Key clients

Olympian Park Group

Vertical Seven Group

Keswick Enterprises Group

Yusen Logistics Group

Simacek Group

Sparking Capital Venture Fund

Vertical 7 Fund

Romania Hypermarche – Louis Delhaize Group (Cora Romania)

Norauto Rom Services

EMSA Capital


Delamode Romania – Xpediator Group

Semtop Group

Semtop IFN

GoodBee IFN

Work highlights

  • Advised Vertical Seven Group on the multimillion-euro sale of the remainder of its stake in Benefit Seven to Sodexo Pass Romania.
  • Assisted Kewsick Enterprises Group with the sale of its Romanian logistics subsidiary, Tibbett Logistics, to Japan’s Yusen Logistics.
  • Advised facility management company, Simacek Group, on the spin-off of two divisions as part of a complex restructuring process.

Bohalteanu şi Asociaţii

Bohalteanu şi Asociaţii is a popular choice for day-to-day advice and transactional matters. The team, which is led by Daniela Milculescu and Ionut Bohalteanu, acts for clients from across several industries, including tourism, real estate, technology, retail and finance.


‘Their dedication and passion for solving complex business cases is truly remarkable. Very client oriented, fully engaged in ensuring the best outcome for their clients in the business and legal challenges they tackle.’

‘I valued their professional attitude, combined with a real interest in understanding our case. We agreed on the approach, the steps required while understanding my internal requirements in terms of timing and budget.’

‘Ionut Bohalteanu’s fiscal expertise alongside his legal background enables him to construct complex business transactions successfully.’

Daniela Milculescu is fully dedicated in ensuring that the client’s needs are truly met.

Key clients

DoA Center Invest

Christian Tour


Summa Linguae Poland


Ion Mos

Butlers Walsall

Work highlights

  • Advised Romanian food company Ion Mos on its acquisition of a rival domestic producer.
  • Assisted Summa Linguae Group with the potential acquisition of Summa Linguae Romania, a subsidiary of Summa Linguae Poland.
  • Advised a Romanian IT company on its takeover by Cognetik Corp.

Bulboaca & Asociatii

Bulboaca & Asociatii had a strong year on the corporate front, receiving instructions on several notable corporate mandates in the banking, gaming, chemicals and pharmaceutical sectors. The team is well versed in private and public M&A, and is no stranger to complex cross-border deals. Alexandra Radu has a strong track record.

Practice head(s):

Alexandra Radu

Key clients


Banca de Export Import a României EximBank S.A. (Romanian Import Export Bank EximBank S.A.)

SB Group

FTF Columbus

Sklepy Komfort

Societatea Hoteliera Times

Willow Residential S.R.L (part of Speedwell Real Estate Development Group)

Oakbridge Worlwide Limited

GBA Services

Frigoglass Romania

Industrial Instal

Rod Bogat Unirea

Work highlights

  • Advised Banca de Export Import a României EximBank on all aspects of its acquisition of a 99.2% stake in Banca Românească from the National Bank of Greece.
  • Assisting SB Group, the holding company for Superbet Group, which owns 1,200 betting agencies, with the €175m sale of a stake in the company to Blackstone.
  • Advising Chimcomplex on the financing for its acquisition of several asset bundles from Oltchim, which had gone into insolvency.

Stratulat Albulescu Attorneys at Law

Stratulat Albulescu Attorneys at Law is highly recommended by clients that include entrepreneurs, international companies, venture capital and private equity funds, and an impressive list of local start-ups. Silviu Stratulat's team includes several highly rated partners, including Romona Iancu and Irina Petre.

Practice head(s):

Silviu Stratulat


‘The team not only have an extensive international and local exposure to the M&A deals, but they also have a capacity to understand the business and the operations of our company and moreover empathize with me as entrepreneur.’

‘The team is very responsive, handles both my (legal) and my local business colleagues needs very well.’

‘Irina Petre is a great and valuable support in every corporate transaction.’

‘Ramona Iancu provides extensive knowledge, great responsiveness and attention to detail.’

Key clients

GapMinder Venture Partners

World Class Romania

BBDO Worldwide Inc.

Work highlights

  • Assisting GapMinder Venture Partners with its investment, including a €500,000 convertible loan, in Fintech OS, a company specialised in the digital transformation of financial institutions.
  • Advising GapMinder Venture Partners on its $1.5m investment into the online biometric technology start-up, Typing DNA.

Vernon | David

Vernon | David has a strong regional presence, including an office in Moldova. The practice handles a mix of day-to-day matters, as well as complex restructurings, spin-offs and M&A work. Charles Vernon and Maria Nica are well regarded for their corporate expertise and are sought after by several major international companies.

Practice head(s):

Maria Nica


‘Good ability to understand local issues, proactive, good advice, sometimes bringing new constructive suggestions to the transaction.’

‘They understand how UK and US clients want their advice: commercial, articulate and to-the-point.’

‘Charles Vernon is experienced, available, creative, to the point, and pushy and aggressive (in a good way) when needed.’

‘Charles Vernon and Maria Nica are commercial, sensible and have a deep knowledge of the local market.’

Key clients

Xannat (was part of Tarmac and the Anglo-American Group)

Brown Forman

Banca Transilvania




Paypoint PLC


Banca Transilvania

ELIT România

Ben Shimon Floris Ltd


Intesa San Paolo

Elite Insurance


EcoSmart Union

Salvation Army

Work highlights

  • Advising generic drug maker, Amring Holding, on its day-to-day matters, as well as a restructuring of the group to make Romania a key regional hub for its operations.
  • Advising mining company Xanat, on day-to-day matters as well as an internal restructuring in preparation for a sale by the management.
  • Assisting steel producer, TMK, with a market delisting and the de-merger and subsequent sale of the company’s hydroelectric assets.

Zamfirescu Racoti Vasile & Partners

Zamfirescu Racoti Vasile & Partners acts for domestic and international clients on a wide range of issues. The firm provides strong day-to-day expertise and is well versed in group restructurings, joint ventures, M&A and private equity transactions. Anca Danilescu has a strong presence in the market.

Practice head(s):

Anca Danilescu

Key clients

Alro S.A. / Vimetco N.V.

Saint Gobain Group

adidas Romania

Unicredit Bank

PointPark Properties

Transport Trade Services

Elpreco – CRH Group

CA Immo

Jantzen Group

Pearson Group

Medicare Global

Work highlights

  • Advising Pearson Group on the restructuring of its Romanian subsidiaries, including the incorporation of several new ones.
  • Advising Air Management on a shareholder exit by one of the company’s main shareholders.
  • Assisting TC Investment, a member of the CA Immo Group, with the restructuring of its Romanian activity and corporate presence.