Stratulat Albulescu Attorneys at Law

Salary transparency has become one of the most significant topics on the national legislative agenda, given the upcoming deadline for the transposition of Directive (EU) 2023/970 - 7 June 2026. The purpose of the new regulation is to ensure the effective application of the principle of equal pay for equal work or work of equal value and to reduce the gender pay gap. In our view, these objectives are already implicitly addressed under the existing national legislation, namely Law No. 202/2002 on equal opportunities and treatment for women and men, and Government Ordinance No. 137/2000 on preventing and sanctioning all forms of discrimination. Nevertheless, European legislation introduces additional provisions which, at least in theory, should facilitate the reduction of gender-based pay disparities. Although the intention of the European legislator is clear, the level of preparedness within the business environment remains limited. Recent studies show that only approximately 16% of companies in Romania consider that they have salary transparency policies applicable to the recruitment process and human resources management. While there is still no draft national legislation in the legislative pipeline, it is essential for employers to understand the upcoming obligations and their practical impact. However, prudence suggests waiting for the draft transposition act. Key obligations introduced by the Directive Salary transparency for job candidates Employers will be required to inform candidates of the initial level of remuneration or the salary range applicable to the position, established based on objective and gender-neutral criteria. This information must be provided before the interview - either through the job advertisement or by another means that enables candidates to negotiate knowingly. Thus, the calculation must consider the average within the company for similar positions, regardless of the employee’s gender. Transparency of Pay Levels Companies will be required to make available to employees the criteria used to determine salaries and pay progression (e.g., skills, responsibility, working conditions). These criteria must be documented, communicated, applied consistently, and must not take gender into account. Additionally, upon request, the employer must provide: (i) the employee’s own remuneration level, and (ii) the average remuneration levels for comparable categories of workers, broken down by gender. Note: The Directive does not require disclosure of individual salaries, but only aggregated, comparable data. Reporting on pay gaps The Directive introduces a proportionate reporting mechanism: larger companies must report more frequently. The Directive clearly establishes thresholds and deadlines, while Member States may choose to introduce additional thresholds or stricter requirements. Mandatory remedial measures If pay reporting reveals a gap of at least 5% that cannot be justified by objective criteria, companies will be required to conduct a pay assessment together with employee representatives and, where applicable, adopt corrective measures. In practice, adjustments will need to be made upward. Practical recommendations for Romanian companies In light of these new obligations, the question arises as to what employers in Romania should concretely do? Although, as mentioned, there is still no draft legislative act entering the legislative process to transpose the Directive, based on the European provisions, here are several measures to consider. The first necessary step is to carry out an internal pay audit, through which employers analyze pay differences between comparable positions, identify any discrepancies that lack an objective justification, and prepare, if needed, a correction plan. It is also essential to review internal documentation. This involves updating job descriptions, clarifying the criteria for remuneration and promotion, as well as documenting the methodology for job evaluation, so that all criteria used are transparent and gender neutral. The recruitment process will also need to be adapted. Employers will be required to include salary ranges in job advertisements and to clearly communicate the remuneration criteria, providing candidates with the information necessary for an informed negotiation. Last but not least, companies should update their internal regulations and HR procedures so that they can respond uniformly and in a documented manner to employees’ requests for salary information. Developing clear policies on pay transparency will facilitate both legal compliance and the strengthening of a climate of trust within the organization. In conclusion, the transposition of the Directive will significantly change the way companies in Romania manage remuneration and recruitment. To ensure compliance and avoid legal risks, employers must begin preparations early: conducting a pay audit, defining objective remuneration criteria, and updating internal policies. The impact on the business environment will be substantial, involving increased transparency obligations, robust salary data systems, and possible corrective measures in the case of unjustified differences. The transposition deadline (June 7, 2026) makes it necessary to initiate these steps in advance. Authored by Andrei Albulescu, Head of Employment, and Alexandra Păduraru, Senior Associate at Stratulat Albulescu Attorneys at Law.  

Stratulat Albulescu Attorneys at Law has advised Primavera Development on the acquisition of an office building in Bucharest from ASIT Services SRL, a subsidiary of Allianz-Tiriac Asigurari. The property ideally located in the city center, at 74 Grigore Alexandrescu Street, near Piata Victoriei, served as the Bucharest branch headquarters of the well-known insurance company Allianz-Tiriac Asigurari. This transaction stands out in the Romanian office real estate market and shows that, despite the challenges affecting the sector, the market remains resilient and continues to attract investor interest. Primavera Development is a real estate development company based in Bucharest, with over a decade of experience in the Romanian market, the company has established a strong track record in developing and managing high-quality real estate projects. Allianz-Tiriac Asigurari is a leading Romanian insurance company and member of the global Allianz Group, one of the world's largest insurance and financial services providers with a 130-year history. Operating in Romania for over 30 years, Allianz-Tiriac has built a reputation for financial stability and customer trust, serving the Romanian market with a comprehensive range of products and services. The SAA team advising on the Romanian law aspects of the transaction was led by Managing Partner Silviu Stratulat and Managing Associate Daiana Assoum, and also included Senior Associate Florin Geana and Associate Alina Ghezuroiu. Partner Ana Kusak, Managing Associate Victor Iacob, Senior Associate Alexandru Lazar and Associate Leia Lupu, provided legal advice on the competition law and FDI aspects of the deal. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected] or Anastasia Tache (Marketing Assistant) at [email protected].

Stratulat Albulescu has advised Medicana International on the lease of a landmark 22,000 sq. m. build-to-suit hospital facility in Nusco City, Bucharest, under a 20-year lease agreement. This transaction represents Medicana’s strategic expansion into the Romanian market and the introduction of world-class medical expertise to Romania’s growing healthcare sector. This lease agreement represents Medicana’s strategic expansion into the Romanian market and the introduction of world-class medical expertise to Romania’s growing healthcare sector. It also highlights the increasing demand for high-quality healthcare infrastructure in Romania and underscores the role of dedicated legal advisory in enabling complex, long-term developments that integrate healthcare and urban regeneration objectives. Nusco continues to set new benchmarks in urban development in Bucharest. Nusco City, spanning approximately 23 hectares, combines healthcare, residential, commercial, and hospitality spaces, including offices, a hotel, and green areas. The project stands as a model of modern, sustainable, and people-centric urban planning. Medicana Health Group is a leading international healthcare operator, globally recognized for its commitment to innovation, medical excellence, and patient care. The group operates a network of state-of-the-art hospitals and medical centers in Turkey, specializing in cardiology, oncology, neurosurgery, and organ transplantation. The SAA team advising on the deal was led by Managing Partner, Silviu Stratulat, and included Managing Associate Daiana Assoum, both members of the firm’s Real Estate practice group. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected] or Anastasia Tache (Marketing Assistant) at [email protected].

Stratulat Albulescu has advised Catalyst Romania on its EUR 1.25 million investment in Carfix, a Romanian-developed digital ecosystem designed to significantly reduce vehicle-related costs by up to 60%. This strategic funding will enable Carfix to further expand its innovative platform, strengthen its technological infrastructure, and enhance its market reach. This transaction reinforces Catalyst Romania's positioning as a leading venture capital investor focused on supporting transformative Romanian technology companies. By investing in Carfix, Catalyst Romania continues to demonstrate its commitment to backing innovative business models that leverage technology to deliver measurable impact across industries. Catalyst Romania (www.catalystromania.com) is a pioneer in private equity and venture capital investments in Romania, having launched its first fund in 2012, financed through the JEREMIE initiative, and in late 2020 launched its second fund, Catalyst Romania Fund II. Catalyst Romania funds focus on providing early-stage and growth capital to young technology companies from Romania and Eastern Europe, which have the potential to become leaders in their sector in the region or achieve global success. Catalyst Romania Fund II is a VC fund managed by Catalyst II GP, both entities being established under Luxembourg law and acting as an alternative investment fund and, respectively, as an alternative investment fund manager. Carfix is a unique digital platform that integrates automotive insurance, repairs, and related services in one streamlined ecosystem. With this EUR 1.25 million funding, Carfix will further develop its technology, expand its partnerships with insurance companies and repair networks, and provide users with innovative solutions that significantly reduce vehicle ownership and maintenance costs. The SAA team advising on the deal was led by Partner and Head of Venture Capital, Cristina Man, and included Associate Cezara Mitea, both members of the firm’s Tech M&A practice group. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected] or Anastasia Tache (Marketing Assistant) at [email protected].

Stratulat Albulescu has advised Prime Label Investment Company S.A. and I.P.P.U. Packaging S.R.L. in a financing transaction including a multicurrency and multipurpose term and revolving facilities agreement entered with mBank S.A., PKO Bank Polski S.A., and BNP Paribas Bank Polska S.A., as well as the related Romanian law governed security documents. This transaction represents an important step in strengthening Prime Label Investment Company’s financial structure and supporting the continued development of its Romanian subsidiary, IPPU Packaging. By securing strategic financing, the group reinforces its position in the packaging sector and builds a solid foundation for further growth in Romania and across the wider CEE region. Prime Label is a leading provider of innovative labelling and packaging solutions in the CEE region, serving major FMCG brands and industrial clients. The company is known for its commitment to sustainability, investment in cutting-edge printing technology, and rapid scalability across European markets. I.P.P.U. Packaging is a Romania-based packaging manufacturer specializing in high-quality flexible packaging for food, cosmetics, and pharmaceutical industries. With a focus on precision engineering and compliance with EU regulatory standards, the company is a trusted partner for regional and international supply chains. The SAA team advising on the Romanian legal aspects of the deal was led by Partner and Head of Banking & Finance Cristian Vlaicu, and also included Associate Ana Maria Ungureanu. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected].

Stratulat Albulescu has advised global private equity firm Regent on the Romanian aspects of its acquisition of ContiTech’s Original Equipment Solutions (OESL) business unit from Continental AG. The transaction strengthens Regent’s presence in the European industrial and mobility sectors and builds on ContiTech’s legacy of innovative solutions for diverse industries. The OESL business unit provides cutting-edge material and system solutions across sectors such as off-highway mobility, mining, construction, energy management and automotive, positioning Regent to expand its footprint in these key industries. Regent is a global private equity investment firm dedicated to driving transformation across diverse industries, including technology, consumer products, industrial manufacturing, and media and entertainment. The firm focuses on acquiring companies with strong growth potential and supporting their long-term strategic development. Continental is a leading global tyre manufacturer, automotive supplier and technology partner offering safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic and transport. ContiTech, its industrial division, specializes in advanced material technologies and innovative solutions for off-highway mobility, construction, energy management and automotive. The SAA team advising on the Romanian legal aspects of the deal was led by Managing Partner Silviu Stratulat, and also included Senior Associate Amanda Csaki. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected].

SAA has advised a Lithuanian company E Energy Invest (EEI) on the acquisition of a 49% stake in FFNEV BESS. The transaction covers a 2.4-GW battery energy storage system (BESS) development platform spanning Spain, Portugal, and Romania, co-developed by FF Ventures, and backed by UK-based Octopus Energy. Under the transaction, FF Ventures retains a 51% stake, while EEI acquires 49%. The partnership aims to accelerate large-scale, flexible energy storage deployment in Southern Europe. While initially focused on Spain, Portugal, and Romania, the platform may explore additional markets in the future. E Energy Invest (EEI) is an investment vehicle of Strioga Family Foundation, aimed to finance climate friendly initiatives in Europe. The Foundation stems from 30 year old legacy of the Lithuanian renewables group E energija, an independent developer with over 500 MW of completed wind, solar, and hybrid projects and 500MW of projects in development. FFNEV BESS is a strategic joint venture leveraging FF Ventures' expertise in renewable energy project development and EEI's investment capabilities to deliver scalable and efficient energy storage solutions. The SAA team advising on the Romanian law aspects of the transaction was led by Managing Partner Silviu Stratulat and Head of Energy & Infrastructure, Dr. Luiza Ionescu, and also included Associate Raul Arama, and Energy Expert Andreea Paraschiv. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected].

As of July 7th, Stratulat Albulescu Attorneys at Law powers up its Energy Group with new Special Counsel Dr. Luiza Ionescu and Industry Expert Andreea Paraschiv. Managing Partner Silviu Stratulat commented: “We are delighted to welcome Luiza and Andreea to our professional family. As the energy sector continues to evolve and expand, their deep industry insight and multidisciplinary experience position us to better support our clients in navigating emerging opportunities and regulatory complexities. Their addition reflects our commitment to staying at the forefront of this dynamic and fast-growing field.” With more than 10 years of experience, Dr. Luiza Ionescu (Special Counsel) brings extensive knowledge in complex energy projects, both conventional and renewable. She has advised local and international clients on a wide range of matters, including regulatory compliance, project development, acquisitions, transactions, and disputes. Her broad perspective allows her to navigate the legal and strategic dimensions of the energy sector with efficiency and clarity. Prior to joining our firm, Luiza gained valuable experience at leading Romanian law firms and in the legal departments of major energy companies, including Enel and BayWa, where she served as Legal Manager and Executive Officer. She combines strong legal skills with a strategic business perspective, supported by a GEFS (Green Energy Finance Specialist) certification from RENAC. In addition to her energy law expertise, she also advised on emerging areas such as digital markets and artificial intelligence (AI) regulation. We are especially pleased to welcome her back, as she started her legal journey at SAA. In recent years, alongside her professional achievements, Luiza has remained actively engaged in the academic field, earning a PhD in Civil and Comparative Law from the University of Bucharest in 2023. Andreea Paraschiv (Industry Expert) is a distinguished specialist with multidisciplinary background, combining expertise in law, finance, and business analytics. She specializes in transforming complex technical and commercial data into clear strategic recommendations, supporting impactful decision-making in the rapidly evolving energy markets. She has strong skills in strategic consulting, project management, financial structuring, risk management, and regulatory compliance. A graduate of the University of Exeter, UK, Andreea holds an LLB with a focus on the intersection of technology and law, as well as a master’s degree in Business Analytics. Prior to joining our firm, she worked alongside Luiza at BayWa in dual roles as Project Manager and Financial Analyst. For any other information on this, please feel free to contact Delia Bijnea (Head of Marketing and Communications) at [email protected].