Firm Profile > Popovici Nitu Stoica & Asociatii > Bucharest, Romania

Popovici Nitu Stoica & Asociatii
239 CALEA DOROBANTI
6TH FLOOR, 1ST DISTRICT
010567 BUCHAREST
Romania

Commercial, corporate and M&A Tier 1

Popovici Nitu Stoica & Asociatii acts for domestic companies and entrepreneurs, private equity funds and blue-chip corporations with particular expertise in the IT, pharmaceuticals, retail and agribusiness industries. Florian Niţu and Bogdan Stoica lead the team, which advised Fondul Proprietatea on the sale of four electricity companies to Electrica, an entity owned by the Romanian state. The group is well regarded for healthcare M&A deals and notably assisted Medicover with its purchase of Academica Medical Centre. In addition to M&A transactions, the team handles the full range of corporate and commercial matters; it advised Orange Romania on all corporate governance monitoring.

Dispute resolution Tier 1

Energy-related litigation is a core strength at Popovici Nitu Stoica & Asociatii. Ciprian Donțu is representing Enel Energie in pursuit of an annulment made by the National Regulatory Authority for Energy, which set the competitive price component that the client is able to charge. Elsewhere, the team acted for Fondul Proprietatea in litigation pertaining to the sale of its shares in Romanian state-owned company Electrica and its four subsidiaries. Additional spheres of expertise include corporate, property, IT, public procurement and capital markets disputes. Ilinca Ștefănescu-Goangă heads the practice jointly with Donțu.

PPP and procurement Tier 1

Popovici Nitu Stoica & Asociatii’s strengths lie in national projects pertaining to road rehabilitation and construction, water treatment, waste management facilities and concessions utilities. The team represented Hidroconstrucţia in the Court of Appeal, successfully obtaining a re-evaluation of the winning tender for drainage system rehabilitation contracts awarded by a Bucharest municipality. Alexandru Ambrozie and Anca Irena Tudorie head the practice; Ambrozie advised SIVECO on a PPP contract for delivering enterprise resource planning (ERP) to the Agency for Payments and Intervention in Agriculture. Managing associate Ramona Pentilescu is highly recommended.

Real estate and construction Tier 1

Popovici Nitu Stoica & Asociatii fields a ‘very responsive’ team whose ‘quality of advice is to the point’. Bogdan C. Stoica assists Immochan with Immochan Coresi Park Brasov, a €700m mixed-use real estate development project and urban regeneration programme. Another instruction in the development space came from Auchan and One United in relation to Bucharest's 125,000sqm One Floreasca City project involving an office tower, residential units and a shopping mall. The practice attracts a diversified caseload and, in addition to developments, regularly handles acquisitions, investments, asset management, and property disputes. Florian Niţu and Valentin Creața are the other names to note.

Restructuring and insolvency Tier 1

Practice head Ciprian Donțu is the name to note at Popovici Nitu Stoica & Asociatii. The team covers the full range of legal issues arising from restructuring and insolvency, handling both contentious and transactional matters. In has advised Fondul Proprietatea in connection with $65m debt owed by the World Trade Center as part of its insolvency proceedings and Auchan on the insolvency of K&S Electric Power Point.

Tax Tier 1

Popovici Nitu Stoica & Asociatii's team is praised for its ‘professionalism, very good understanding of industry specifics and efficiency in delivering answers’. It is headed by Alexandru Ambrozie and Mihaela Pohaci and covers the full range of both direct and indirect tax. Pohaci assisted Dedeman with the tax aspects of its acquisition of The Bride from Forte Partners. She also advised Fondul Proprietatea on the sale of its shares in four electricity supply companies.

Capital markets Tier 2

Bogdan C. Stoica and Alexandru Ambrozie jointly head the practice at Popovici Nitu Stoica & Asociatii. Fondul Propietatea received advice on a shareholder dispute at Oil Terminal, a company in which the client is a minority shareholder. Other notable clients include Franklin Templeton Investment Management, Oresa Ventures and Immofinanz.

Employment Tier 2

Popovici Nitu Stoica & Asociatii assisted Leroy Merlin with two collective negotiation agreements and advised US-based Ferro Corporation on a range of industrial relations issues. The team handles a wide variety of instructions spanning from consultancy to litigation and is jointly headed by Vlad Neacșu and managing associate Ioana Dumitru. Other notable clients include UPS Romania, Ipsos Interactive Services and Ameropa.

Next Generation Partners

Energy and natural resources Tier 2

Popovici Nitu Stoica & Asociatii handles regulatory and M&A work and is particularly active in energy-related disputes. Vlad Neacșu and Ciprian Donțu head the practice alongside Ernest-Virgil Popovici and recently advised Fondul Proprietatea on the €170m sale of its shares in four electricity companies to Electrica. The matter was made further complicated by Electrica's unsuccessful attempt to register restrictions preventing the client from finding an alternative buyer.

Intellectual property Tier 2

The ‘effective’ and ‘attentive’ team at Popovici Nitu Stoica & Asociatii handles the full range of IP matters. It has particular software industry knowledge and practice head Cristian Popescu is assisting Credo Ventures with an investment in DCS Plus, advising on due diligence procedures regarding IP rights. It also represented Immofinanz in seeking an annulment of a decision by the Romanian IP Office to reject the registration of two trade mark applications.

TMT Tier 2

Popovici Nitu Stoica & Asociatii handles the full range of business, competition and regulatory issues for its telecoms clients. Practice head Ernest-Virgil Popovici is assisting Orange Romania with the development of its premium TV service, including negotiation and review of agreements with content providers such as HBO and Netflix as well as full regulatory compliance monitoring and advice. Elsewhere, the team acted for Siveco Romania on drafting its terms and conditions and privacy and cookie policies.

White-collar crime Tier 2

Praised for its ‘excellent command’ of the relevant local laws, Popovici Nitu Stoica & Asociatii delivers an ‘excellent combination of experience and willingness to help’. ‘Knowledgeable’ practice head Alexandru Ambrozie is particularly well regarded for money laundering and tax evasion cases. The team acts for both domestic and overseas companies and is noted as an ‘excellent’ choice for ‘multinationals with operations in Romania’. Ambrozie represented an Austrian construction company in a case relating to tax evasion, embezzlement, forgery and money laundering.

Banking and finance Tier 3

Popovici Nitu Stoica & Asociatii handles transactional, regulatory and structuring matters and has particular expertise in asset finance, acquisition deals and corporate and retail lending transactions. Recent highlights include advising subsidiaries of Immofinanz Group on term-loan facilities for the development of office buildings in Bucharest, and assisting CLN Group with an increase of its €200m loan facilities. Bogdan Stoica and Alexandru Ambrozie jointly head the team, which acts for household names such as BNP Paribas, KIWI Finance and Deutsche Leasing.

EU and competition Tier 3

Popovici Nitu Stoica & Asociatii's practice is headed by recently promoted partner Mihaela Ion. Her team hosts a well-regarded antitrust litigation practice and is particularly strong in competition matters in the IT, pharmaceuticals and retail sectors. It assisted Germany-based Xella Ro with the successful merger clearance for its acquisition of Macron Group.

 

The firm

Popovici Nitu Stoica & Asociatii is a leading Romanian independent law firm. Established in 1995 as one of the first incorporated partnerships, the firm brings together strong local resources with exceptional credentials, outstanding records and distinguished careers in law, business and academia. The Bucharest office groups today 80 qualified lawyers and tax advisors. Focusing traditionally on the private sector and on foreign investment projects, Popovici Nitu Stoica & Asociatii is acknowledged by the vast majority of observers and peers as ‘the transactional law firm’ among the market leaders. The firm has constantly been involved in the majority of the M&A transactions in Romania from various industries such as energy, healthcare, retail, IT, financial services, telecoms and real estate.

Areas of practice

Mergers and acquisitions: M&A expertise is central to the firm’s practice. It brings together and integrates the expertise of other acknowledged practice groups within the firm, such as capital markets, tax, competition and antitrust, and litigation.

Popovici Nitu Stoica & Asociatii is involved in some of the largest transactions of each year, an aspect also usually acknowledged by the Romanian Financial Newspaper (Ziarul Financiar) through its yearly awards: largest transaction in Real Estate in 2018, largest transaction in the building materials sector in 2018, largest transactions in Retail in 2015, largest transactions in IT and FMCG in 2014; largest IT&C transaction in 2013, largest AGRO/FMCG transaction in 2013, largest AGRO/FMCG transaction in 2011, largest transaction in the financial industry in 2011, largest IT&C transaction in 2010, largest transaction in healthcare in 2009 and largest transaction in energy in 2009.

Recent transactional highlights:

  • Dedeman on the acquisition of The Bridge from Forte Partners, in one of the largest office real estate transactions in Romania.
  • Medicover on the acquisition of three independent medical centers: Phoenix Medical Center, Academica Medical Centers and Pelican Hospital.
  • Oresa Ventures on the sale of Fabryo to AkzoNobel.
  • Farmexim and Help Net, one of the largest pharmacy chains and pharmaceutical wholesalers, on their sale to Phoenix.
  • Net Brinel on its takeover by SNEF.
  • WDP on the acquisition of Dunca Logistics Centre and CTPark Cluj I.
  • RTC Proffice Experience, a subsidiary of Swedish investment fund Oresa Ventures, on the acquisition of Paper Plus.
  • Dedeman on the acquisition of Cemacon and Cemacon Real Estate.
  • Voestalpine on the acquisition of (i) the Romanian coating business from Barum Technik; and (ii) the majority stake in Travertec Buzău.
  • Ameropa on the acquisition of (i) Sărulești agricultural base; and (ii) 40% of the shares of agribusiness companies Promat Comimpex and Agroind Cauaceu.

Banking and finance:

Recent transactional highlights:

  • VIA SMS Group on its entry in Romania pursuant to the acquisition of Netcredit IFN SA.
  • Unirii View on the €23m financings granted by Raiffeisen Bank for the development of an office building.
  • CLN Group on various amendments to the €200m financing granted by a syndicate led by BPN Paribas S.A., Milan Branch, as agent.
  • Hidroconstructia on US$ 23 million syndicated credit agreement concluded with BRD Société Générale and Exim Bank for the implementation of a USD 115.5 million contract in Jordan.
  • Two Romanian subsidiaries of Immofinanz on the €71m financing granted by Raiffeisen Bank International AG for financing and refinancing the development of various office buildings in Bucharest.

Competition & Antitrust:

Recent transactional highlights:

  • Dedeman on the successful clearance by the Competition Council of the acquisition of Cemacon and Cemacon Real Estate.
  • A leasing company in the Competition Council investigation on the market of financial leasing and of the consumer credit from Romania.
  • Olanesti Riviera in the Competition Council investigation in relation to an alleged abuse of dominant position. The investigation was closed with no fines applied to Olanesti.
  • Xella on the successful clearance by the Competition Council of the acquisition of Macon Group.
  • A retail company in the Competition Council investigation in relation to the activity of the company in the Bucharest Airport.

Real Estate:

Recent transactional highlights:

  • Dedeman on the acquisition of The Bridge.
  • WDP on the acquisition of Dunca Logistics Centre and CTPark Cluj I.
  • Immochan on the development of Coresi Business Park Brasov.
  • Immofinanz on the sale of Jandarmeriei Office and Jandarmeriei Residential projects to Speedwell.
  • Auchan and One United on their development of One Floreasca City on the former Ford historical plant.
  • WESTCHESTER on the development, investment in and operation of its Romanian agriculture portfolio, following the takeover of the management of Rabo Farm portfolio in Romania.

Project finance/PPP, concessions and infrastructure:

Recent transactional highlights:

  • a leading medical and pharmaceutical distributor in relation to the public procurement procedure for the award of five contracts regarding radiotherapy equipment.
  • an infrastructure company on the tender process, negotiation, implementation and/or performance of four public procurement contracts concerning works of rehabilitation of drainage systems, extension and rehabilitation of water and wastewater infrastructures, modernisation and endowment of disembarkation points.
  • SAP Romania on a public tender for the delivery of an IT client management system.
  • SIVECO Romania on the public tender for the acquisition of “computer system integration and operational and analytical recovery of large amounts of data, personnel training and networking LAN and SAN”.
  • Swietelsky in connection with the award and/or performance of several public procurement contracts regarding railways rehabilitation works.

 

Department Name Email Telephone
Ernest-Virgil Popovici (Senior Partner) Ernest.Popovici@pnsa.ro +40 21 317 7919
Florian Nitu (Managing Partner) Florian.Nitu@pnsa.ro +40 21 317 7919
Bogdan C. Stoica (Deputy Managing Partner) Bogdan.Stoica@pnsa.ro +40 21 317 7919
Photo Name Position Profile
Mrs Ioana Șampek  photo Mrs Ioana Șampek
Mrs Ilinca Ștefănescu-Goangă  photo Mrs Ilinca Ștefănescu-Goangă
Mr Alexandru Ambrozie  photo Mr Alexandru Ambrozie
Mr Valentin Creața  photo Mr Valentin Creața
Mr Ciprian Donțu  photo Mr Ciprian Donțu
Mrs Luana Dragomirescu  photo Mrs Luana Dragomirescu
Mrs Ioana Dumitru  photo Mrs Ioana Dumitru
Ms Mihaela Ion  photo Ms Mihaela Ion
Ms Irina Ivanciu  photo Ms Irina Ivanciu
Ms Ela Marin  photo Ms Ela Marin
Mr Vlad Neacșu  photo Mr Vlad Neacșu
Mr Florian Nițu  photo Mr Florian Nițu
Mrs Raluca Petrescu  photo Mrs Raluca Petrescu
Mr Cristian Popescu  photo Mr Cristian Popescu
Mr Ernest-Virgil Popovici  photo Mr Ernest-Virgil Popovici
Mr Bogdan C. Stoica  photo Mr Bogdan C. Stoica
Mr Silviu Stoica  photo Mr Silviu Stoica
Ms Anca Irena Tudorie  photo Ms Anca Irena Tudorie
Number of partners : 15
Number of lawyers : 80
English
French
Italian
Romanian

OPTIblue and Klarmann to be taken over by Innova Capital

OPTIblue and Klarmann to be taken over by Innova Capital

Popovici Niţu Stoica & Asociaţii advised Optical Network, the leading retailer and an important distributor on the Romanian optical market, on its sale to private equity fund Innova Capital.


Oresa sales Somaco to LafargeHolcim

PNSA advised the Swedish investment fund Oresa on the sale of Somaco, one of the leading precast concrete producers in Romania, to LafargeHolcim.


PNSA advised Ameropa Group on a €324 million syndicated financing

PNSA advised its long-standing client Ameropa Group, worldwide leading Swiss grain and fertilizer trader, on the €324 million multicurrency revolving financing granted by a syndicate of banks composed of Banca Comerciala Romana, Raiffeisen Bank, ING Bank N.V. Amsterdam – Bucharest Branch and UniCredit Bank.


PNSA advised an Irish financial institution on a EUR 30,000,000 financing

PNSA advised RI-GD Investments DAC, as lender, on the accession of two Romanian subsidiaries of an Irish agribusiness group to a EUR 30,000,000 financing.


PNSA advised Magnetto Wheels on a new significant financing

PNSA advised its long-standing client Magnetto Wheels on the negotiation of a guarantee agreement under the framework of an €134m financing granted by IFC and Cassa Depositi e Prestiti S.p.A.


PNSA advised Dedeman on a new landmark transaction – acquisition of The Office in Cluj-Napoca, in


Data Privacy Impact Assessment at a glance / All you need to know

By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii


Enforcement and Sanctions under the GDPR

By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii


New Partners with POPOVICI NIŢU STOICA & ASOCIAŢII

January 2018

POPOVICI NIȚU STOICA & ASOCIAȚII promotes three lawyers to partnership.


GDPR: Relations and responsibilities in the processing of personal data

GDPR: Relations and responsibilities in the processing of personal data (controllers, processors and sub-processors)

There is no doubt that every company processes personal data (e.g. of its’ employees’, clients’, contractual partners’).

Most often, this also involves a constant barter between companies processing personal data and companies providing various services (e.g. HR, IT, payroll, datacenters, cloud services), both of them falling within the scope of the GDPR.


Strengthening the Fight against Money Laundering and Terrorism Financing

Laundered money is oxygen to crime, terrorism and tax-avoidance. We need to cut off its supply as best we can. Today's stronger rules are a big step forward but we now need quick agreement on the further improvements the Commission proposed last July",

(…) The new rules as of today are crucial to closing further loopholes. I urge all Member States to put them in place without delay: lower standards in one country will weaken the fight against money laundering and terrorist financing across the EU. I also call for quick agreement on the further revisions proposed by the Commission following the "Panama Papers" to increase transparency of beneficial ownership”,


The clock is ticking. Implementing the General Data Protection Regulation

With 2018 just around the corner and the European Union setting a clock on raising the standards of personal data protection, companies are starting to prepare themselves for new challenges.

The General Data Protection Regulation (“GDPR”) approved by the EU in 2016 will enter into force on the 25th of May 2018 and all companies processing personal data need to be compliant by that time.


Companies are welcoming a new team player – the Data Protection Officer

The new General Data Protection Regulation (“GDPR”) could not have enlarged data controllers’ and data processors’ obligations and apply such great sanctions without anticipating the need for companies to appoint a Data Protection Officer (“DPO”).

While companies must now turn their focus on ensuring compliance with the GDPR every step of the way, the DPO will be a key player in reaching this goal.