Romania

AS Legal Advice is a law firm led by Cezara Szakacs and Raul Andruic who are consultancy lawyers with more than 16 years of experience mainly with a Magic Circle law firm and a big four consultancy firm. The firm focuses mainly on M&A, commercial and corporate areas, assisting on complex transactions involving assets/shares acquisitions, due diligence and joint ventures.

Highlights

 The firm provides day to day advice on all the legal aspects concerning the functioning of a company and carrying on its commercial activity, assistance on specific commercial operations and contracts.

It also has strong capabilities in other areas such as financing, mergers/spin-offs and real estate development.

The team assisted clients mainly from transportation, automotive, shipyards, real estate, medical, equipment wholesale, construction materials, marketing, cryptocurrency and IT.

Testimonials

“Know how, availability, attention to details, proactive approach, being able to provide solutions also for other jurisdictions, not only Romania.” - M&A Client

“Professional, responsive, experienced in M&A projects.” - M&A Client

“I like their profound expertise, focus on the details and timely execution.” - M&A Client

“"AS Legal Advice is very client- and business-oriented, offering dedicated partner attention and prompt advice. Their legal support is consistently used in commercial decisions of the clients.” – M&A Client

“They offer valuable opinions, and they represented our company fast and efficient negotiating all clauses in our favor.” - Private equity Client

“Cezara Szakacs demonstrated extensive knowledge and experience in M&A and corporate matters and I appreciate very much her responsiveness and result-oriented advice that help clients to deal with complex structuring and tough counterparties. She knows how to create links with internal teams of the clients.” - Cezara Szakacs

“She understands very well our company needs and provides quick opinions and legal solutions for our problems.” - Cezara Szakacs

“She is very good at negotiating of transactions combined with excellent drafting skills.” - Cezara Szakacs

“Understand requests, prompt and valuable advice, business oriented.” - Cezara Szakacs

“I also worked Raul Andriuc in their team, and he has excellent expertise in real estate and corporate matters, he is in my opinion a talented lawyer with very deep knowledge of relevant regulations and local environment.” - Raul Andriuc

Băncilă Diaconu și Asociații is a full-service corporate law firm based in Bucharest, Romania. It’s a member firm of Ernst & Young Global which has a network of more than 2,400 lawyers and offices in over 90 jurisdictions. The firm is experienced in advising domestic clients in the full range of roles in mergers, acquisitions and joint ventures in a broad range of industries. It’s particularly active in advising clients about oil and gas, technology and telecommunications, utilities, and industrials and manufacturing.

 Highlights

The firm advised Grafoprint on the sale of their stake to Innova Capital, facilitated through Prime Label Investment Company.

The firm is advising EBM on the Romanian legal aspects of the acquisition of Siemens the Industrial Drive Technology (IDT) business unit from Ebm-Papst.

Key clients

Carrefour Romania, Ebm-Papst Automotive & Drives Romania, Goodpack, Lenovo Group and Vastint Romania.

Based in Bucharest, the Romanian office of Cerha Hempel advises on all areas of corporate law. It’s part of the international law firm Cerha Hempel with offices in Austria, Bulgaria, Czech Republic, Hungary, Romania and Slovak Republic. Its headquarters are based in Vienna, Austria and has a team of over 200 lawyers spread across offices in Austria, Central and Eastern Europe.

Focusses / specialisms

The firm is particularly experienced in corporate and M&A, advising foreign and domestic mostly acquirers on cross-border acquisitions in various industries.

Research period review: 32^nd edition (2022/2023)     

During the research cycle the firm was active in corporate and M&A, advising mostly the acquirers on acquisitions through share transfers. It assisted clients coming from various industries, including healthcare, technology and telecommunications, energy, tourism and industrials and manufacturing.

A recent staffing change is the recruitment of Cezara Szakacs, a counsel in corporate and M&A, hired from Deloitte.

D&B David & Baias was established in 2002 in Bucharest. The firm has a particular focus on M&A work but is also active on banking and finance matters. The firm is active in acquisitions, mergers, bid work and investments across diverse industry sectors.

Highlights 

The firm advised Aloref on the acquisition of the calcined soda ash and sodium silicate production assets and activities operated in Romania by Ciech Soda Romania, a major subsidiary of Quemetica.

The firm also advised Altex Romania on the €70 million acquisition of Bricostore Romania. The sale comprises the entire Bricostore Romania business, including its network of 31 stores in 24 cities, distribution operations, and head office in Bucharest.

Key clients 

Altex, Bosch, Fan Courier, Public Power Corporation and SD Worx.

Testimonials 

“Coordination, organisation, and proficiency.” – M&A Client

“The team was extraordinary.” – M&A Client

“Patience, organisation, and attention to detail.” - Adriana-Monica Popa

“The accessibility was excellent.” – Cristina Paduraru

Leroy & Asociaţii is a full-service Romanian firm established in 1998 after a spin-off from Gide Leroy & Asociaţii.The firm has a particular focus on banking and finance and project development work but is also highly active in M&A work. The firm also has a particular specialism in assisting with financial services regulatory questions in these practice areas.

Highlights 

The firm advised Raiffeisen Bank International (RBI) in connection with Romanian netting and financial collateral issues when entering into repo transactions with sovereign-owned entities such as CEC Bank.

The firm is advising Suez International on the $100 million Bucharest Waste Water Treatment & Mud Incinerator Plant project.

Key clients 

The International Swaps and Derivatives Association, The International Capital Market Association, The International Securities Lending Association, European Federation of Energy Traders, and UniCredit Bank.

Testimonials 

(2024/2025)

“Good commercial approach and solution oriented, flexible and supportive in finding solutions to move beyond sticking points. very good technical knowledge and experience which proved helpful to support the negotiation and drafting.” (Bank lending client) 

“Professional excellence, attention to detail, effective communication and empathy.” (Project development client)  

“He assists Andreea Toma for the preparation of claims and correspondence in view of the upcoming arbitration procedure with the Client. He is very proactive and assists us in drafting the legal correspondence.” - Mihnea-Ioan Ratiu, Project development Senior Associate 

“Solid legal knowledge, intuitive, always available.” - Adriana Spataru, Banking and finance counsel. 

“Creative problem solving, commercial awareness, persuasive communication.” - Andreea Toma, Firm partner 

“She provides legal counsel for the preparation of claims and correspondence in view of the upcoming arbitration procedure with the Client. She has in-depth knowledge of contracts and industry; she provides excellent counseling and is very proactive.” - Andreea Toma, Firm partner

Nestor Nestor Diculescu Kingston Petersen is one of the oldest la firms in Romania. Established in 1990, it has offices in Bucharest, Timisoara and Cluj. The firm has contributed to myriads of deals and projects in Romania, helping corporations, financial institutions, private equity funds and entrepreneurs move forward with their business initiatives. The firm has a particular strength in project development achieving tier 1 status in this area. The firm is also highly active in banking and finance and M&A work achieving tier 2 status in these areas.

Highlights 

The firm advised Aaylex One on the $21 million financing during all phases of the project, assisting in all aspects related to the structuring, negotiation, and signing of the complex loan documentation.

The firm advised NIPPON EXPRESS HOLDINGS on acquiring the shares of the multiple subsidiaries of Cargo-Partner Group Holding.

Key clients 

Globant, Grupo Bimbo, Inner Mongolia Mengtai Group, Nippon Express Holdings, and Safety Broker de Asigurare.

Testimonials 

“High level of professionalism, availability, very good negotiators, provide creative solutions, excellent team organization and coordination.” – Banking and finance Client

“They are the most commercial firm in Romania - in client service, commercial awareness and understanding of client needs.” – Banking and finance Client

“Their particular ability to find solutions in peculiar situations, with a particular capability to deal with widely accepted legal opinions in relation to loans backed by sovereign guarantee.” – Banking and finance Client

“Good lawyers, quite responsive.” – M&A Client

“The client orientation approach and the deep understanding of the business” – M&A Client

“Keen eye for detail, with a risk limitation approach.” – M&A Client

“we appreciate complex, complete and fast advice and support.” – M&A Client

“The team was highly professional and very well prepared, helping us navigate the complexities of the legal energy landscape and ensure compliance with various obligations. They demonstrated perfect mastery and in-depth knowledge of regulatory matters, market trends and pricing mechanisms, and proposed tailored solutions to accommodate our specific needs. We have been very satisfied with our collaboration.” - Project development Client

“NNDKP has a strong team with strong in-depth knowledge of all regulatory matters related with mining sector.” - Project development Client

“The multi-disciplinary team that offered combined legal expertise and practical business insight, the excellent client service and the results obtained.” - Project development Client

“Adina is a very experienced lawyer in public procurement matters and very good in coordinating her work and understanding the client's specific needs and business.” – Adina Chilim Dumitriu

“Senior and knowledgeable.” – Adriana Gaspar

“Highly experienced and skilled lawyer, always anticipating our needs and providing pro-business solutions.” – Adriana Gaspar

“He is one of the best lawyers we have interacted well. Knows perfectly how to balance tense situations.” – Alexandru Ciambur

“Communication, expertise, solutions, collaboration.” – Alina Radu

“Exceptional communication and hands on approach to projects.” – Emmanuel Flechea

“Gabriela has excellent expertise in the energy sector, being best placed to advise on highly complex industry-specific matters requiring a detailed risk assessment and careful balancing of various aspects. She is a very organized person, a true problem-solver and an excellent project manager. She is very effective, the type of person that gets things done.” – Gabriela Cacerea

“She is quite up to speed in most of the relevant areas of expertise in the energy sector.” – Gabriela Cacerea

“Deep understanding of the energy sector.” - Ruxandra           Bologa

Ruxandra is an outstanding team leader. Her knowledge and experience in the Romanian natural resources sector gave us the comfort we have the best professional to assist us with our work.” - Ruxandra Bologa

“The best in class in energy & mining sector, including CCUS projects. Understand our needs and delivers all in time in a super professional way. Fully rely on her feedback and expertise, highly effective in the analyses.” - Ruxandra Bologa

“Legal knowledge, large overview of risk of any decision of customers, communication and all professional aspects.” - Ruxandra Bologa

“Provide innovative solutions” - Valentin Voinescu

Popescu & Asociatii is a full-service law firm based in Bucharest.The firm has a particular focus on banking and finance and M&A work. The firm is also active in debt and equity capital markets as well as project development. During the research period the firm was active on a variety of financings, regulatory issues, acquisitions, restructurings, private placements and infrastructure projects. 

Highlights 

The firm advised RECARO AUTOMOTIVE on the acquisition of assets from a Romanian company within the same industry.

The firm also advised SIRMA Group Holding on the acquisition of shares in a Romanian IT company.

Key clients 

ASSET PORTOFOLIO MANAGEMENT, Banca Transilvania, ING, Metlen, and VIORELO INTERNATIONAL.

Testimonials 

“Very deep knowledge of the subject matter, strategic thinking and recommendations, high level of customer service.” – Banking Client

“I work with them on several areas, and from my observations their team demonstrates deep expertise across multiple regulatory domains simultaneously, from FDI legislation to banking regulations, from AML/KYC to accessibility compliance. This integrated approach means we can rely on them for comprehensive regulatory strategy rather than piecemeal advice from multiple specialists. This level of expertise available to us it's invaluable. They always consider that the solutions provided be both legally sound and practically implementable at scale. This is not easy to do, but they make it seem easy.” – Banking Client

“What it always stands out is that the team is very responsive and collaborative. They made sure we understood every step of the process rather than just handling things behind the scenes. Their ability to translate complex legal concepts into practical business solutions made the entire IPO preparation much more manageable for our management team. Some law firms in the past struggled with the specialized nature of cryptographic solutions, but the team from Popescu & Asociatii grasped our operational requirements from day one and knew how to structure solutions that wouldn't compromise our core security functions. I like working with them. Also, every time we have a problem that needs their assistance, they handle it for us, not only that there were several instances they saw potential problems before us, and they helped us navigate them smoothly. I can't go into specifics, i wish i could, but if you knew what i was referring to, you would understand the depth of professionalism and knowledge the lawyers there possess. “– Equity Capital markets Client

“"What makes Popescu & Asociatii stand out is their deep knowledge of both Romanian and European Union laws, which is not easy to find. Many law firms only know one or the other, but they understand how these different legal systems work together. This was very important for our case because we needed lawyers who could handle both types of laws at the same time.

Their team is also very good at explaining complicated legal matters in a way that business people can understand. They don't use too much legal language that confuses clients. Instead, they take time to make sure we understand what is happening and what our options are. The lawyers are also very responsive - when we had questions or concerns, they answered quickly and gave us clear answers. This made us feel confident throughout the whole process." - M&A Client

“Incredible efficient and competent.” - M&A Client

"Their team demonstrated exceptional knowledge of international sports federation requirements while simultaneously handling our complex banking and regulatory compliance needs. One thing that stood out, and I was particularly impressed about was their practical approach to restructuring, they actually helped us implement the changes operationally.

Their expertise in financial services regulatory matters was invaluable when we needed to establish new banking protocols for international tournament payments. The team was always responsive to our tight tournament schedule deadlines and showed genuine understanding of how sports federations operate differently from commercial entities. They work diligently to understand the unique intersection of sports governance and finance.” – Restructuring Client

Radu Tărăcilă Pădurari Retevoescu is a full-service law firm with an office in Bucharest. It has seven partners and more than 40 lawyers. The firm is Allen & Overy’s local arm. The firm is a strong player in the Romanian legal market achieving tier 1 status in banking and finance, debt capital markets and M&A. The firm has been active on acquisitions, as well as acquisition, syndicated and real estate financings, bond issuances, IPOs and renewables projects. 

Highlights 

The firm has advised Grup Serban Holding and its subsidiaries in relation to a €73 million syndicated facility for the refinancing of the existing debt and the development of its activity.

 RTPR advised Autonom Services in relation to a new bond issue, with an aggregate nominal value of EUR 30 million and a maturity of 5 years, with a fixed annual interest rate of 6.14%.                                  

Key clients 

Alpha Bank Romania, Autonom Services, BNP Paribas, Credit Suisse, and Morgan Stanley Smith Barney.

Testimonials 

“They are not only knowledgeable and experienced, but they have a great business approach that allows them to be excellent dealmakers.” – M&A Client

“When it comes to being a M&A lawyer, Vlad does everything great - he's not only knowleadgeable and experienced, but he understands very well what your position and concerns are and makes sure they are always addressed without affecting the transaction.” – Vlad Stamatescu

(2024/2025)

“Radu Taracila Padurari Retevoescu (RTPR) - Allen & Overy provided exceptional service in our recent private lending deal in Romania. Their expertise in drafting and negotiating financial and security documents, along with their M&A support for an option agreement, was invaluable. The team, including Cosmin Tilea, Alina Stavaru, Andreea Nedeloiu, and Andrei Tosa, demonstrated outstanding professionalism, responsiveness, and deep knowledge of Romanian law. Their tailored solutions, strategic advice, and commitment to our business objectives made them stand out and ensured the success of our transaction.” (Asset finance client)

“RTPR team proved to know in depth the implications of a merger between two borrowers throughout national legislation and in our legal documentation. They showed a hands on, constructive approach, working alongside third parties and the Borrowers to fulfil all requirements within quite a sensitive time frame.” (Banking client)

“RTPR have a unique mix of highly trained lawyers with great experience in various aspects of law with large-scale deals in Romania and abroad. Their strength lies in their people, especially Counsel Poliana-Gogu Naum, who are the most valuable asset of the firm: they are extremely intelligent, very hard working, have a remarkable transactional background and exposure.” (Banking client)

“RTPR’s team led by Cosmin Tilea did an excellent job in assisting our firm in some of the largest syndicated financings extended by local banks. The team is very strong in terms of legal skills and market recognition.  I’ve always been impressed how efficient and available they are, not to mention their professionalism and capacity to deal with complex matters, including state guarantees and intercreditor arrangements. I strongly recommend their banking and finance practice as one of the best – if not the best – in Bucharest.” (Banking client)

“Counsel Poliana Gogu-Naum and her team are very reliable with notable experience in the banking and finance fields, very professional and knowledgeable. I was very pleased by their commercial approach and their willingness to find the best solution for all the parties involved in the project.” (Banking client)

“The lawyers are commercial, flexible, adaptable, in addition to remarkable legal know-how and experience. Poliana Gogu-Naum matches all these qualities, and we are very satisfied with the serviced provided by her. Andreea Nedeloiu is another impressive lawyer, she possesses amazing legal knowledge and huge experience in financings.” (Banking client)

“I like that RTPR have a balanced team made of passionate and responsive lawyers, both seasoned partners and hard-working associates who are always on top of everything during the transaction. I have been working with them for several years and they keep impressing with their professional yet friendly approach, excellent knowledge of the law and the best market practices. They are always updated with latest developments and market trends in Europe thanks to their link with Allen & Overy which makes them a top choice law firm on the Romanian market.” (Banking client)

“The ECM team has deep experience of the Romanian market, both in terms of law/regulations and market practices. They present business-oriented approach, they are proactive and focused on solving problems. They are one of the best choices for ECM legal advisory in Romania.” (Capital markets client)

“Thorough, to-the-point, proactive.” (Capital markets client)

“They have expertise, availability and flexibility.” (Capital markets client)

“They have strong expertise, the ability to find solutions for the problems that arise during the project; very; united and non-conflictual team.” (Capital markets client)

“Professional, they looking for solutions and have excellent communication.” (Financial services regulatory client)

“There are a few attributes that make them excellent lawyers and a preferred choice for us: they have in-depth knowledge of the law and great practical experience and are solution-oriented and have a down-to-earth approach. They provide innovative solutions while also keeping in mind the interest of the client and the needs of the client. In a nutshell, these guys will successfully guide you through the most challenging/complicated transactions. and you won't mistake if you choose them.” (M&A client)

“Top notch experience and expertise and responsive.” (M&A client)

“Very professional, always on time, reliable and business oriented. Particular appreciation for their flexibility and resourcefulness in finding the most appropriate solution during difficult negotiations.” (M&A client)

“Poliana Gogu-Naum is an outstanding lawyer. She is an excellent banking & finance lawyer. She is very smart, determined and enthusiastic. It was a real benefit for us to have her leading the project team for our deal. She is always hands on and coordinates more junior lawyers in the team to provide the work in due time and to the highest standards. A real asset.” - Poliana Gogu-Naum, Banking and finance senior associate

“Counsel Poliana Gogu-Naum is extremely talented and experienced, and she is always available. She has exceptional knowledge in banking & finance transactions and responds quickly and efficiently to queries. Poliana Gogu-Naum is very easy to work with and you can trust that she will get the job done and will work very hard to get the best solution.” - Poliana Gogu-Naum, Banking and finance senior associate

“Poliana is hard-working, thorough, knowledgeable, proactive and talented.” - Poliana Gogu-Naum, Banking and finance senior associate

“Poliana communicated very well with the banking team and the client, she was pro-active and focused to solve the requests within the deadline.” - Poliana Gogu-Naum, Banking and finance senior associate

“Andreea Nedeloiu stood out for her in-depth legal knowledge, meticulous approach, client-focused service, and constant readiness to assist.” - Andreea Nedeloiu, Banking and finance senior associate

“Mihai is an exceptional lawyer combining deep legal knowledge and expertise with business oriented apprach. Mihai understands how the ECM transactions work, he is practical and effective in his work and gives legal comfort through the entire transactional cycle. I highly recommend Mihai.” - Mihai Ristici, M&A partner

“Very professional in all aspects.” - Mihai Ristici, M&A partner

“Very good professional, open with clients and very transparent in decisions, supportive and to the point in matters or approaches, overall vision.” - Mihai Ristici, M&A partner

“Mihai is definitely the type of lawyer that you love to have around you. It goes without saying that he's experienced and knowledgeable. But what makes him a great lawyer is how he puts to work such experience and knowledge: in a business-friendly manner, with a deal-making attitude (but never forgetting where you, as a client, need to get and how you should be protected) and with a very pleasant attitude. With Mihai by your side, you are certain that your deal will proceed smoothly.” - Mihai Ristici, M&A partner

“Great expertise and very good at managing difficult situations.” - Vlad Stamatescu, M&A counsel

“Very professional, looks for solutions, is excellent at communication and provides very prompt responses.” - Vlad Stamatescu, M&A counsel

“Vlad is probably everything you want in a M&A lawyer. It goes without saying that he has great knowledge of law and practical experience. He has a flexible approach while also being careful to the client's over all position. Whenever you have him by your side, you can be certain that your deal is safe - you will see it finalized with the fewest impediments and with the most legal certainty for you.” - Vlad Stamatescu, M&A counsel

“Proficient in M&A transactions; very well organized; proactive; always on time and spot on feedback and problem solving. Able to coordinate with ease complex negotiations in terms of drafting, providing feedback and solutions to sensitive issues and very good negotiation skills.” - Vlad Stamatescu, M&A counsel

“A very good professional”- Vlad Stamatescu, M&A counsel

“Alina Stavaru stood out for her commercial orientation and ability to find out-of-the-box solutions, as well as having a very client-focused approach.” - Alina Stavaru, M&A partner

“Excellent experience and expertise, responsiveness and client focus.” - Costin Taracila, managing partner

“Cosmin Tilea was our firm’s longstanding relationship partner at RTPR and he is absolutely impressive in all respects. He’s beautifully skilled, reliable, restless and ready to lead the deal. He can advise on highly complex financing structures and gives the confidence that the deal will get done without any problems although he needs to tackle various issues during the process. He’s the guy to go to if someone wants a lawyer who seamlessly gets the deals across the line! The best in the banking and finance league!”  - Cosmin Tilea, Banking and finance partner

“Cosmin Tilea, in particular, stood out for his deep legal knowledge, client-centric approach, thoroughness, and unwavering support. Alongside Alina Stavaru, Andreea Nedeloiu, and Andrei Tosa, the team demonstrated outstanding professionalism and responsiveness, ensuring the success of our transaction.” - Cosmin Tilea, Banking and finance partner

“Cosmin Tilea led the RTPR team we worked with since the very beginning and throughout the years I’ve seen a continuous improvement of his legal service. Cosmin is a blend of great legal knowledge and excellent deal management. Thanks to his very good communication and negotiation skills, dedication to the matter and coordination ability he can really get a deal done effortlessly. He is trustful, very hands-on and always present. A true deal maker!”  - Cosmin Tilea, Banking and finance partner

“Andrei is a great lawyer, dedicated and with a solution-finding approach that is rarely seen. He is a valuable member of the RTPR team and we're always pleased to work with him.” - Andrei Tosa, M&A managing associate

Established in 2005, Ţuca Zbârcea & Asociaţii is one of the largest firms in Romania. Its main office is in Burcharest, which employs 120 lawyers, 29 of whom are partners. The firm has an association with Şomlea & Asociaţii – giving it an additional Romanian office in Cluj-Napoca – and a collaboration agreement with Andersen Global. 

Highlights 

The firm is a leading player in the Romanian market achieving tier 1 status in M&A and project development. During the research period the firm was active on syndicated loans, restructurings, acquisitions, transportation and nuclear projects, securitisations and regulatory questions. Deal highlights include Emerson indirect acquisition of National Instruments Romania SRL and Digilent, Carrefour Romania, France and Netherlands acquisition of Romania Hypermarche, Colt indirect acquisition of Lumen Technologies Romania and the Cluj County sanitation project. 

Key clients 

European Investment Bank, World Bank Group, International Finance Corporation, General Dynamics, WeBuild, Carrefour Group, Vodafone Romania, OMV Group Petrom, Smithfield Europe, Emerson, Banca Comerciala Romana, Erste Group, Bucharest Stock Exchange, Bursa de Valori Bucuresti, SAI Erste Asset Management, Central Depository of Romania, NN Insurance & NN Pensions, BRD Groupe Societe Generale, BRD Finance IFN, Banca Transilvania and Exim Banca Romaneasca.  

Testimonials     

“Professionalism. Covering many legal areas in the office. Business-orientated.” (M&A client) 

“Extensive experience in all areas relevant for the project (M&A, retail, real estate, competition, etc) and valuable assistance tailored to the business' needs.” (M&A client) 

“The quality of services is good for the fees.” (M&A client) 

"Very professional and skilled." (Project development client) 

“Understands our business. Professional. Targeting problem-solving and to obtain the desired results.” - Cătălin Băiculescu, M&A partner 

“Razvan is highly efficient in coordinating its team towards the final goal. Having a pro-solution mindset and being able to easily identify what's important for each party, Razvan is able to bring valuable input in every negotiation or deal structuring.” - Razvan Gheorghiu-Testa, M&A partner 

“Availability at any time.” - Serban Paslaru, Projects partner 

“Very knowledgeable, good understanding of the business and solution orientated.” - Oana Ureche, M&A partner 

Vlăsceanu & Partners is a boutique law firm specialized on energy and environment which established its office in Bucharest, Romania, in 2006. The firm is active in M&A and project development, advising clients on SPV and PV projects, construction projects, tenders, acquisitions and concessions in oil and gas, renewable energy, utilities and construction sectors.

Highlights

The firm advised Eco Sun Jianu in securing a €28 million financing from Kommunalkredit Austria AG for the completion of a 56 MW solar park in Olt County, Romania.                                                                                      

 The firm advised Econergy Group in securing the financing from Phoenix Insurance for an amount of €24 million. The finance was structured as corporate debt and convertible loan.

Key clients

Econergy Group, Else Energy, Kraftfeld Group, Premier Energy Group, and TSG Capital.

Testimonials

“We highly value the team's in-depth analysis and legal expertise. They stood out due to their proactive approach, providing clear and practical solutions for the complex challenges of the project. Communication was excellent; we were consistently updated on progress and received quick, detailed responses. Their ability to anticipate potential risks and provide strategic guidance was a key factor in ensuring the project's success.” - Financial services regulatory Client

“Knowledge, availability, finding the right solution.” - M&A Client

“We highly value the team's in-depth analysis and legal expertise. They stood out due to their proactive approach, providing clear and practical solutions for the complex challenges of the project. Communication was excellent; we were consistently updated on progress and received quick, detailed responses. Their ability to anticipate potential risks and provide strategic guidance was a key factor in ensuring the project's success.” – Project development Client

“Encompassing domain knowledge, know-how in all phases of the business invested in and legal counsel to manage pitfalls. The team overall is fast in responding to issues and needs.” – Project development Client

“Experience, Know-how, solutions to obstacles, and availability.” - Project finance Client

“Daniel Vlăsceanu's strengths lie in his deep commercial acumen and specialized legal expertise, which he developed over more than a decade of experience, including in-house roles at a major energy company. This background allows him to provide a unique "pure legal consultancy" combined with a practical, applied business perspective.” - Daniel Vlăsceanu

“Great domain knowledge, leading risk management, impactful on legal frameworks and great at manoeuvring difficult domain paths.”- Loredana Vlasceanu

“Professional, mitigates obstacles, supports the business, executes legal assignments.” - Loredana Vlasceanu

Founded in 1987, Gilescu Valeanu & Partenerii is a corporate law firm with an office in Bucharest and a team of 17 attorneys.

Focusses / specialisms

The firm is active in corporate and M&A and restructuring and insolvency.

In corporate and M&A it advises clients on mergers, share capital increases and on various corporate matters.

In restructuring and insolvency, it assists the financing side on insolvency proceedings. It’s active in various sectors, including transport, logistics, IT and medical.

Key clients

Among its clients are Immofinanz Group, Tchibo brands, Mediapost Hit Mail, Bosch SH Electrocasnice,ThyssenKrupp elevator and Stryker Romania.

Client feedback: 31^st edition (2020/2021)

M&A               

"Professional - quick in solving issues - trustable."

Bondoc & Asociatii is a Romanian law firm based in Bucharest. The firm’s office employs 40 lawyers, including ten partners.

Focusses / specialisms

The firm is active in banking and finance, capital markets, corporate and M&A and restructuring and insolvency. The firm’s practice has a significant presence in acquisition finance, oil and gas, aviation finance and agribusiness sectors.

Key clients

Among its clients are Air Lease, Agricover, Altor Fund, Banco Bilbao Vizcaya Argentaria, Bearingpoint GmBH, Credit Agricole, Clubul Fermierilor (Romanian Farmers’ Club), Commerzbank group, CMU Regina Maria, Deutsche Bank, Johnson & Johnson, UniCredit Bank and VTB Bank.

Client Feedback: 32nd edition (2022/2023)

Capital markets

“Bondoc is very well prepared for alternative investments funds area. The team assisting for the registration of Fondul Proprietatea and for the paperwork needed to be filed by the AIFM on periodical basis is having an extensive expertise in this area.”

M&A

“They are one of the very few law firms in the market that can assist professionally on complex projects in highly regulated sectors, such as the one in which we activate. Tenacious. Very solid experience. They are also very strong in complement.”

bpv Grigorescu Stefanica is a full-service corporate law firm, founded in 2006. It has an office in Bucharest. It is a founding member of bpv LEGAL, an alliance of independent law firms, comprising over 130 lawyers who provide legal advice for clients in Central and Eastern Europe.

Focusses / specialisms

The firm is active in banking and finance, corporate and M&A and project development. In banking and finance it advises clients on direct financing and banking matters. In corporate and M&A it advises clients on mergers, acquisitions, joint ventures and corporate matters, as well as on business restructurings.

In project development it advises clients on public procurement proceedings, contracts and licensing in transport, automotive and oil and gas sectors.

Key clients

Among its clients are 4finance, 40 Management, Alpha Bank, Aviva Investors Central European Property Fund, Bancpost, Banca Comerciala Romana – BCR and EON.

Client Feedback: 32nd edition (2022/2023)

M&A

“We value that their attitude is beyond that of a service provider. We truly feel that they are our business partners.”

“Understanding the customer needs. They worked hard to align our interests as a buyer with the interests of the one who sold the business.”

Bulboaca & Asociatii is a corporate law firm with an office in Bucharest, launched in 2007.

Focusses / specialisms

The firm is active in banking and finance and corporate and M&A.

In banking and finance it advises mostly borrowers on project financing and debt restructurings. It’s also experienced with capital markets work, advising issuers on note issues.

In corporate and M&A the firm advises buyers on acquisitions in various sectors, including IT, private equity and real estate.

Key clients

Among its clients are Romcab SA, Can-Pack SA, AOT Energy Switzerland AG, Credit Suisse, Barclays and Société Générale.

Client Feedback: 32nd edition (2022/2023)

Project finance

”Very hands on, prompt and professional.”

CMS Cameron McKenna Nabarro Olswang is a corporate law firm with an office in Bucharest. It’s part of the international law firm CMS which consists of 17 independent law firms with more than 70 offices worldwide.

Focusses / specialisms

The firm is active in banking and finance, capital markets and corporate and M&A.

In banking and finance the firm is experienced in advising all sides of the table on direct financing, project financing and acquisition financing.

In capital markets it advises mainly issuers on IPOs, security-token offerings and bond issues.

In corporate and M&A the firm advises all sides of the table on sales, acquisitions and mergers in various industries, including real estate, banking and pharmacy.

Key clients

Among its clients are Libra Bank, Advent International, Raiffeisen Bank and European Fund for Southeast Europe.

Client Feedback: 32nd edition (2022/2023)

Banking and finance

“CMS provided prompt and concise feedback. The team demonstrated great legal knowledge and experience.”

Capital markets

“The CMS Romania team had an important contribution to the organization and conduct of the entire process, providing qualitative documents, remarkable cooperation with our team, timely completion of services, professionalism proved by their team.”

Deloitte Legal is the Romanian presence of the international firm of the same name and is based in Bucharest. Deloitte Legal is the legal side of the international firm Deloitte.

Focusses / specialisms

The firm is active in banking, capital markets, M&A, and project development deals. The firm’s practice has a significant presence in the technology and telecommunications, finance, real estate, construction, manufacturing, insurance and transport sectors.

Key clients

Among its clients are SIF Muntenia, S.S.I.F. Tradeville, LGT Bank, Platforma Roca, Roca X Start Up and Asociația Administratorilor de Fonduri din România.

Client Feedback: 32nd edition (2022/2023)

M&A

“Receptive to our needs, quick response, very good technical knowledge in the area of spin offs, clear and concise communication of the deliverables. They do inspire trust.”

Global law firm Dentons’ Romanian office is located in Bucharest.

Focuses / specialisms

Dentons is best known for its offerings in banking, capital markets and corporate and M&A deals.

The firm’s practice has a significant presence in the real estate finance, project and infrastructure finance, acquisition and LBO finance particularly in agriculture, energy, technology and food sectors.

Key clients

Among its clients are NEPI Rockcastle, AFI Europe/BIG CEE, UniCredit, Metito Utilities(Dubai), ING Bank, Oresa Ventures, Avica, Raiffeisen Bank and EY.

Client Feedback: 32nd edition (2022/2023)

Capital markets

“Available, knowledgeable, responsive, appropriately staffed.”

M&A

“Very responsive, attention to detail pragmatic drive, solution oriented.”

Filip & Company opened in Bucharest more than a decade ago.

Focusses / specialisms

The firm is active in banking and finance, financial services regulatory as well as in corporate and M&A and in capital markets.

In banking and finance it advises borrowers and lenders on credit facility agreements, project finance, financial restructurings, securitizations, and it provides financial services regulatory advice on various matters and banking compliance advice.

In capital markets it advises mostly issuers on bond issues as well as regulatory advice on capital markets matters.  

In corporate and M&A it assists acquirers and sellers in acquisitions of shares, mergers, joint-ventures, leverages buyouts. It’s particularly active in the banking sector and in the financial sector.

Key clients

Among its clients are Banca Transilvania, National Bank of Greece, Raiffeisen Bank, Citibank, ING Bank, International Investment Bank, Societatea Energetica Electrica, BRD Groupe Societe Generale, Impact Developer & Contractor, Alpha Bank Romania, Unicredit, Novo Banco, and Garrett Motion.

Research period review: 31st edition (2020/2021)

During the research period the firm has been active in banking and finance, capital markets, and corporate and M&A.

In banking and finance it advised borrowers and lenders on credit facility agreements, project finance, financial restructurings (under Chapter 11), and release of security interests, and it provided financial services regulatory and banking compliance advice.

In capital markets it advised mostly issuers and also guarantors and investors on bond issues and regulatory assessments as well as issuers on financing though senior secured notes.  

In corporate and M&A it assisted acquirers and sellers in acquisitions of shares, mergers, joint-ventures, and leveraged buyouts. It is particularly active in the banking and financial services sectors as well as in energy and IT.

In restructuring and insolvency it advised a client in the insurance sector on a corporate restructuring.

Deal highlights: 31st edition (2020/2021) 

Banca Transilvania’s acquisition of Microinvest

Digi Group €250 million refinancing

Digi Group €850 million bond issue

Eximbank acquisition of shares in Banca Romaneasca

Oriflame €775 million bond issue

Romanian Ministry of Finance €41 billion bond issue

Client feedback: 31st edition (2020/2021)

Bank lending : Lender side                                   

"Quality of work and general attitude, reliability, flexibility (also in terms of legal fees), speed of work."

Capital markets : High yield                         

"We appreciate their professionalism, solutions proposed and can-do attitude."

M&A               

"High expertise, focused and result-oriented, strategic thinking, adapted and innovative solutions."

"Highly professional and dedicated."

Alina Birsan      

"Highly skilled; outstanding communication."

Catalin Suliman

"True business partners; highly reliable; in depth knowledge of the market and client's needs; transparent and honest; proactive; problem solving; strategic thinking."

Ioan Dumitrascu            

"True business partners; highly reliable; in depth knowledge of the market and client's needs; transparent and honest; proactive; problem solving; strategic thinking."

Ioana Roman    

"True business partners; highly reliable; in depth knowledge of the market and client's needs; transparent and honest; proactive; problem solving; strategic thinking."

Andreea Toma 

"Excellent team leader; very good communicator; top-of-the-line expertise in the M&A field; efficient in the client-lawyer interactions and relations with the counterparty."

"Andreea has a rich legal experience and very good negotiation skills. She is able to find quick solutions to issues encountered during negotiations having a deep understanding of the commercial background of the deal. I value her commitment a great deal. "

"Reactive and clear responses."

Established in 2008, Kinstellar is a corporate law firm with an office in Bucharest, Romania. It is part of the international law firm Kinstellar with offices in 11 countries in Central and Eastern Europe and Central Asia, and more than 250 lawyers.

Focusses / specialisms

The firm is active in all areas of corporate law and project development.

In banking and finance the firm advises borrowers and lenders on direct financing, acquisition financing, project financing and it has a prolific track record in the area of secured financing transactions.

Its capital markets team is active in debt, assisting issuers with bond issues and notes issues, as well as providing advice on structuring, capital markets and financial services regulatory matters.

In corporate and M&A the firm advises buyers and sellers on acquisitions, spin-offs and corporate matters. It advises clients coming from various industries such as IT, technology, private equity, life sciences and banking.

In project development the firm advises bidders and developers on PPP projects in engineering, construction and oil and gas.

Key clients

Among its clients are CCC, Business Lease Group, United Petfood Romania, Dura Automotive, Citibank, Banca Comerciala Intesa Sanpaolo Romania, ING Bank, UniCredit Bank, Prodigy Finance, Santander Consumer Bank, American Express, MasterCard, JP Morgan Chase and Citibank.

Client Feedback: 32nd edition (2022/2023)

Banking and finance

“Great service, very connected firm showing good industry and practical knowledge. They often also cover other jurisdictions and provide a seamless service between the different teams and offices.”

M&A

“Very knowledgeable, highly experienced and readily available when needed.”

Founded in 2003, Mitel & Asociaţii is a corporate law firm with an office in Bucharest, Romania. It has a team of 26 lawyers.

Focusses / specialisms

The firm is active in banking and finance and corporate and M&A.

In banking and finance it has experience advising the borrowing side on direct financing, refinancing and financing extensions.

Its corporate and M&A practice consists of advising all sides of the table on various corporate matters, including demergers and business expansions.

Key clients

Among its clients are Cyberghost, Arabesque, Continental Hotels, Diamedix Impex, Kenzi Investment, KC Agro Management & Finnagri Immobilier, TUD Investment Consulting, Airbus Group, Medlife Group, Lear Corporation, GED Eastern Fund II, BCR Pensii, Arabesque and BMT Group.

Client feedback: 31^st edition (2020/2021)

Bank lending : Borrower side          

"Provide great assessment and feedback - creative approach to legal matters and proposing creative solutions - wide experience of the banking sector and good knowledge of banking people. "

ONV LAW is a Romanian law firm, founded in 2000, with an office in Bucharest.

Focusses / specialisms

The firm is focused on corporate law. It advises clients on restructurings, shareholder agreements and corporate matters.

Key clients

Among its clients are Raiffeisen Leasing, Avenir Telecom, Salini Impregilo, Alcon Romania, Resalta, Binape Construct, KMP, Investys, Group, Adrem Engineering and Stellar Investments Property Fund.

Client feedback: 31^st edition (2020/2021)

M&A                           

"Fast reply, objective advice, seriousness, positive attitude."

"Great at identifying key stakeholders, their positions, the hidden motives and the emotions. Through acknowledging the above, and addressing/listening, we regained full ownership."

Peterka & Partners is a corporate law firm with an office in Bucharest, Romania, founded in 2010. It is part of the international law firm Peterka & Partners with offices in nine jurisdictions in Central and Eastern Europe.

Focusses / specialisms

The firm specializes in corporate and M&A, advising mostly the buy side on acquisitions, restructurings and joint ventures.

Client Feedback: 32nd edition (2022/2023)

M&A

“Very reliable and proactive.”

Established in 1995, Popovici Niţu Stoica & Asociaţii is a full-service firm with an office in Bucharest.

Focusses / specialisms

The firm has a track-record advising local and foreign clients in almost all areas of the financial and corporate law as well as in project development and litigation. In addition to that, it has an established practice of advising investment funds.

In banking and finance the firm is active on behalf of borrowers and lenders on loan facilities, credit facilities, restructuring and project finance, and it provides legal assistance in financial services regulatory matters related to the establishing of entities and obtaining licences.

In investment funds it advises funds on various regulatory such as remuneration policies, obtaining licences, compliance, and share decrease regimes.

In corporate and M&A the firm is experienced in advising acquirers and sellers on acquisitions, sales, and mergers in various industries.

In project development the firm assists developers and contractors on contracts, tenders, public procurement, and on the overall implementation of projects in sectors including IT and healthcare.

Key clients

Among its clients are Orange, Ameropa Grains, Ameropa, Oresa, Paval Holding, Duraziv Group, Via-Trend, Augsburg International, Hexagon Group, Verdino Green Foods, ContentSpeed, Mobexpert Group, Redport Capital, ERES & Mercury Development, Incom-Vranco, AnsaldoNucleare and Kalpataru Power Transmission.

Research period review: 32^nd edition (2022/2023)     

During the research cycle the firm was active in all areas of corporate law.

In banking and finance the firm advised lenders and borrowers on direct financing, financing extension, acquisition financing, and lease contracts.

In capital markets it was most active in assisting the issuer on secondary offerings of shares and a potential IPO and potential listing on AERO secondary market.

In corporate and M&A it has a prolific record in advising mostly acquirers but also sellers on acquisitions and a buyout. It also assisted shareholders with various corporate structure and strategy requests. The clients list consists of companies in a broad range of industries, including technology and telecommunications, agriculture, consumer goods and services, construction and materials, food and beverage, real estate and industrials and manufacturing.

In project development the firm advised sponsors and project developers on renewable energy acquisition. A special focus of their work this year was assisting clients in bidding for public procurement projects and making appeals.

Deal highlights: 32^nd edition (2022/2023)

Ameropa acquisition of 30% share stake in Promat Comimpex

Ameropa Grains acquisition of Miroși/Căldăraru agricultural base

Autonet Group Holding €15 million acquisition of controlling stake of Augsburg International  

Enel electricity supply contract

ERES & Mercury Development €10 million acquisition of Astra Romana Refinery

Incom-Vranco/ Euro Conf Industrial merger

Orange Group €500 million acquisition of Telekom Romania communications

Oresa €17.5 million acquisition of Via-Trend

Saint-Gobain €35 million acquisition of Duraziv

Client feedback: 32^nd edition (2022/2023)

M&A

"They clearly brought to the table their M&A experience, which is rarely found in Romania as M&As are not so frequent, especially in the software business that we are in."

"The services provided by them were at the highest professional level and far beyond our expectations.

There were many categories of legal services provided, all aimed at representation in relation to potential investors."

Silviu Stoica  

"Very good negotiating skills. He probably got us out of at least two or three difficult situations."

Protopopescu Puscas & Asociatii PPA Legal is a corporate law firm with an office in Bucharest, Romania.

Focusses / specialisms

The firm specializes in banking and corporate and M&A, advising real estate finance deals and private acquisitions in the consumer goods and services, banking, agriculture and investment management sectors.

Client Feedback: 32nd edition (2022/2023)

M&A

“Having excellent business understanding, the lawyers at Protopopescu Puscas & Asociatii have been very prompt in providing the required inputs. They explained what the options were for each negotiated clause in the M&A agreement and helped us make quick decisions.”

Radu si Asociatii is a full-service firm based in Bucharest.

Focusses / specialisms

The firm has experience advising clients on local and cross-border deals in banking and finance, corporate and M&A, and project development.

On banking and finance matters the firm provides advice to clients in financial services regulatory matters such as offering payment services and compliance, as well as on financing.

Its corporate and M&A clients come from various sectors ranging from oil and gas and renewable energy to cosmetics and agriculture. It has experience assisting sellers and buyers on sales, mergers and acquisitions.

The firm is active in assisting local and international institutions on regulatory matters in project development matters such as preparing legal opinions for institutions and legislation drafting.

Key clients

Among its clients are Viva Credit, PPG Industries, Electrica, Smart Diesel, Casa Rusu, Honeywell Corporation, Vector Watch, AccorInvest, DAAS Impex, EBRD, EIB, European Commission, and Societatea Nationala Nuclearelectrica.

Research period review: 31st edition (2020/2021)

During the research period the firm has been active in banking and finance, corporate and M&A, and project development.

In banking and finance the firm advised clients on various financings and mostly on financial services regulatory matters such as offering payment services, compliance.

In corporate and M&A the firm advised sellers and buyers on sales, mergers and acquisitions in various sectors ranging from oil and gas, renewable energy to cosmetics and agriculture.

In project development the firm assists local and international institutions on regulatory matters such as preparing legal opinions for institutions, legislation drafting.

When it comes to staffing changes, the only news is the departure of Dragos Radu, corporate and M&A partner who has retired.

Deal highlights: 31st edition (2020/2021) 

AccorInvest €1 billion acquisition of Orbis

Energiei Electrice Transilvania Nord/SDEE Transilvania Sud/SDEE Muntenia Nord merger

Greenbridge acquisition of Rus Savitar – Casa Rusu group

GST Safety Textiles/GST Automotive Safety merger

Client feedback: 31st edition (2020/2021)

Banking and finance                         

"Advice on borrower's side - international legal implications - drafting of the documents - ongoing negotiations with the lawyers of the other parties."

Financial services regulatory                                   

"Good knowledge of the subject matter, professional attitude. "

Investment funds: Private equity funds                              

"Flexibility and responsiveness."

M&A                           

"Very good knowledge of the steps to be taken and content of the documents to be submitted for the corporate or state bodies' approval."

"VERY professional."

Project development                        

"Deep knowledge of the law and regulations related to industry and government specifics."

"The firm is client-oriented; with high integrity; they have vast knowledge and understanding in the project area; the firm is very creative to find real solutions for the issues."

"What I appreciate most is they are always ON. Any day, any hour, when an urgent advice is needed they would go the extra mile every time to provide the answers asap. Secondly, it is always 100% reliable, well-documented advice. Thirdly, they would always go into details we never thought of, digging into possible scenarios we never had in mind initially. This ensures a tremendous sense of relief and safety in stressful situations."

Project development : Energy                                  

"Good knowledge of the field, good transposition of the general principles and rules to be applied to our specific situation, patience and client orientation to find solutions for different issues that occurred during the project implementation."

Restructuring : Corporate                            

"The team of lawyers provides accurate legal advice in a very fast manner."

Restructuring and insolvency                                  

"They help us to understand the impact of GEO 37 - to update our documentation to be in line with the new law and stand near us and answer all our questions."

Rădulescu & Mușoi is based in Bucharest and has a team of more than 25 lawyers.

Focusses / specialisms

The firm has experience advising local and foreign clients on mostly local deals in banking and finance, and in corporate and M&A.

In banking and finance the firm has experience assisting borrowers and lenders on various transactions such as loans and project financing and it assists with establishing financial services entities.

It advises its clients in M&A on acquisitions and sales, and it provides assistance on various corporate matters.

Key clients

Among its clients are BAC Financial Services, Bac Financial Advisory, Baryan, Biofarm, Black Sea Fund, BRD Groupe Societe Generale, Citadela Homes, Credit Europe Bank Group, Damste Deutek, Marex Group, Eurobank, Raiffeisen Bank, TBE Business Solutions, Unicredit Group, VGP Group, Genius Consulting Services, Holzindustrie Schweighofer Baco, and Indeco Group

Research period review: 32^nd edition (2022/2023)     

During the research cycle the firm was active in corporate and M&A, and project development.

In corporate and M&A it advised mostly the sell side on sales of stakes in businesses in technology, energy, financial industry and real estate.

In project development it advised clients on land acquisitions.

Client feedback: 32^nd edition (2022/2023)

Financial services regulatory                                                                                   

"Fast and to the point."

Carmen Banateanu   

"Carmen understands the issues that we bring to her very quickly and at a high level."

Reff & Asociaţii is a Romanian full-service law firm with offices in Bucharest and Cluj-Napoca, Romania.  Since its foundation its team grew to 70 lawyers. The firm is a local member of Deloitte Legal, a global network of over 2500 lawyers in 83 countries.  

Focusses / specialisms

The firm is active in corporate law and project development.

In banking and finance it advises all sides of the table on the full range of banking transactions, ranging from direct financing and debt restructuring to acquisition and project finance. It has strong practice of advising both financial services providers and banks on banking regulatory matters.

In corporate and M&A it advises clients on mergers, acquisitions, sales, corporate governance matters, as well as group restructurings. It advices clients from various industries, ranging from medical equipment and insurance to construction and manufacturing.

Its project development practice includes primarily regulatory work.

Key clients

Among its clients are International Alexander, Platforma Roca, Trans Expedition Feroviar, Wind Power Invest, Sabon Holdings, Damen Group, Raiffeisen Bank International, Piraeus Bank, Libra Bank, Alpha Bank and Banca Transilvania.

Client feedback: 31^st edition (2020/2021)

Banking and finance

"Coverage of the main topics/issues related to the subject matter of the training."

"Good research and able to collect information and knowledge from different jurisdictions."

"Proactiveness, legal and regulatory knowledge, environment and market knowledge."

"The firm is very professional and their approach is to solve problems; but also anticipating issues, and proactively providing recommendations. They exceed expectations and go beyond the scope of works. "

"Very quick responses. Client-friendly. "

"Reff & Asociatii's team is a reliable partner in any type of banking and financing transactions, that manages to identify, in any context, the most suitable win-win legal solutions for all the involved parties. The high quality of their services is based on team members' sophisticated skills and expertise and, also, on their perpetual inclination toward innovative tools and effective approaches."

"The law firm provides a proactive legal support, proves very good knowledge of the legislative framework, availability and desire to offer the best solutions to the reported legal issues."

Capital markets : Equity

"Full team of experts on different specialities (legislation, fiscal, business, regulation) and very good connections with their colleagues from different countries."

Financial services regulatory

"Great knowledge of the law and of the subject matter in the larger sense, willingness to engage and support (including in face to face meetings with authorities)."

"The firm representatives were familiarised with the specific regulations of NBR. Despite the complexity of our business model and of the number of different operation types, the team understood easily our processes. They entered into details and listened to our requirements and explanations, making the entire correspondence very clear and very important keeping in mind our goals. "

"They showed a very high level of professionalism, good knowledge on the applied regulatory framework and thorough analysis, pointing out risks and finding solutions."

M&A

"The best attribute is the responsiveness. They are really quick in answering our requests. They first understand exactly what we need and they come with their proposals, which are good. "

Restructuring : Corporate

"Enthusiasm and dedicated teamwork."

Schoenherr & Asociaţii is the Romanian branch of the leading Austrian firm. Established in 1996, it was one of the first international firms to open in Bucharest. The office employs 52 lawyers, including 10 partners. Established in 1950, Schoenherr is a leading Austrian firm with a European network that includes offices in 15 jurisdictions.

Focusses / specialisms

In the banking space, the firm is experienced in advising lenders on debt restructuring and syndicated corporate loans, acquisitions and real estate finance transactions.

In the capital markets the firm has experience on IPOs, rights issues, private placements and delisting. In debt work, it advises Romanian banks, financial services institutions and corporate clients as lead managers, placing agents and issuers.

The firm's M&A practice has wide industry expertise and advises a mix of Romanian subsidiaries, domestic corporations, funds and foreign clients on local and cross border transactions.

In project work the firm has a wide focus across public infrastructure, mining and energy projects. It often represents clients on public procurements.

Key clients

The firm advises Agricover, Aquila Prod Com, Banca Comerciala Romana, Bittnet Systems, BRD – Societe Generale, MedLife, OMV Petrom, Patria Bank, Purcari Wineries Public Company Limited, Qualitance QBS, Raiffeisen Bank, TeraPlast, TTS, Nofar, Unilink, Software Mind, Engie and D-Toys.

Client Feedback: 32nd edition (2022/2023)

M&A

“A very result-oriented, pragmatic approach. They took care of the entire process and managed the transaction independently, which helped us a lot as we were able to continue focusing on our operational business.”

“My experience with Schoenherr is second to none. The firm provides clients with direct access to the firm's best lawyers in the region.”

Stratula & Asociaţii is a Romanian corporate law firm with an office in Bucharest, Romania, and a team of seven lawyers.

Focusses / specialisms

The firm is active in advising on corporate and M&A matters.

Client Feedback: 32nd edition (2022/2023)

Financial services

“Very professional.”

Stratulat Albulescu Attorneys at Law is a full-service corporate law firm with an office in Bucharest, Romania, established in 2011. Today, it has a team of 35 lawyers.

Focusses / specialisms

The firm is active in banking and finance and corporate and M&A.

In banking and finance it advises borrowers, lenders and guarantors on loans, refinancing, acquisition financing and banking regulatory matters.

In corporate and M&A it advises mostly buyers but also investors and sellers on acquisitions and investments in various industries, most notably in technology and IT, private equity and energy.

Key clients

Among its clients are VÖB-Service GmbH, EuroBank SA, Fortress REIT, World Class Romania, Euro-Druckservice GmbH, Liberty Springs, AXA Group, Indotek Group, IFCO Group, SIBS Romania and Niro Investment Group.

Client Feedback: 32nd edition (2022/2023)

Investment funds

“Qualitative report, responsiveness throughout the process, depth of analysis and accurate legal assessment of the companies. Stratulat's professionals timely and effectively identified paths of improvement for the companies and supported our Fund in taking a decision and finalizing also the transaction documents. They have a big team, with experts in various verticals which could give a 360-degree view on the companies.”

“Always advised us on important matters and negotiated on our behalf for better terms in the shareholders' agreement.”

Suciu Popa is a full-service law firm with an office in Bucharest, Romania, founded in 2016.

Focusses / specialisms

The firm is active in all areas of corporate law.

In banking and finance it advises borrowers and guarantors on direct financing.

In capital markets it advises issuers on bond issues and capital markets matters.

Corporate and M&A is the firm’s strongest practice where work includes advising acquirers on acquisitions, as well as clients on various corporate matters related to corporate governance, compliance matters and various contracts. Its work also includes corporate restructurings.

In project development the firm advises clients on projects, proceedings and does assessments and analysis.

The firm is active in a list of industries which includes oil and gas, renewable energy, manufacturing, automobility and mining.

Key clients

Among its clients are Ford, Romgaz, Enel, Colas, Strabag, Bolt, Hunt Oil, KazMunaiGas, IBM, Rompetrol, Daimler, Tuborg/URBB, SABMiller, Grup Feroviar Roman (GFR), Bulgargas, Black Sea Oil & Gas, Hidroelectrica, Enel Green Power, Albalact and Bursa Romana de Marfuri.

Client Feedback: 32nd edition (2022/2023)

M&A

“Working with Suciu Popa was extremely rewarding and super-efficient because they have such a great capacity of working as a part of the internal team.”

Project development

“Know-how of the team, their pro activeness and availability. Treating with urgency all our requests.”

Founded in 1994, Toncescu si Asociatii in association with KPMG Legal is a corporate law firm with an office in Bucharest and a team of over 30 lawyers. It’s part of KPMG, a network of audit, tax and advice law firms, comprising more than 219,000 professionals spread across 147 countries worldwide

Focusses / specialisms

The firm is active in banking and M&A, advising sellers and buyers, as well as merging parties on acquisitions, sales, mergers and share capital increases in various industries, most notably in pharmacy, banking, energy and IT.

Key clients

Among its clients are Porsche Romania Finance Group, First Bank, Banca Comerciala Romana, Alpha Bank Romania, EOS GROUP, ALB – Financial, Companies Association, Credex IFN, Med Life, Danone Group and IFactor Brokerage.

Client Feedback: 32nd edition (2022/2023)

M&A

“Proactive, organized, pragmatic and skilled in working with English law frameworks.”

“Business oriented, very well prepared, hardworking and excellent communication skills.”

Vernon David is a boutique corporate law firm with offices in Bucharest, Romania, and Chisinau, Republic of Moldova. Formed in 2001, today it has a team of seven partners and over 25 associates, providing legal services to clients in both Bucharest and Chisinau.

Focusses / specialisms

The firm is active in corporate and M&A, advising clients mainly on corporate restructurings and corporate matters.

Key clients

Among its clients are Paypoint, Amring Holding, TMK, Amraz Israel, Sante, Spearhead, Banca Transilvania, The Salvation Army, Victoria Bank and EcoSmart and Amring Holding.

Voicu & Asociații SCA is a corporate law firm with an office in Bucharest, Romania, founded in 2001.

Focusses / specialisms

The firm is active in corporate law and project development.

In corporate and M&A it advises clients on corporate matters, including corporate structure, market entries and potential acquisitions.

In project development the firm advises clients on public procurement tenders.

In restructuring and insolvency, it advises debtors and creditors on bankruptcy, insolvency, recovery and liquidation cases.

Key clients

Among its clients are Baker Hughes, Boskalis, Ecolab, General Electric, Rewe, Nabors, Shenzen TopBand and Pro Biodiversitas.

Client Feedback: 32nd edition (2022/2023)

Project development

“The positive aspects are represented by the good communication, the efficiency in the accomplishment of the tasks, as well as the good understanding of the discussed cases and the presentation of the way and the legal framework through which to argue the appeals.”

Volciuc-Ionescu is a corporate law firm with an office in Bucharest, Romania, founded in 2013.

Focusses / specialisms

The firm is active in all areas of corporate law and project development.

In banking and finance it advises mostly foreign and domestic banks and investment funds on a broad range of banking transactions, including cross-border syndicated loans, acquisition finance and debt restructurings. In addition, it has experience in capital markets, doing work advising issuers on bond issues.

In capital markets debt it advises mostly the arranging side on bond issues, securitization transactions, derivatives and trade receivables. In equity it advises investors on IPOs.

In corporate and M&A it has experience advising the sell side and the acquisition side on acquisitions, sales and joint ventures in various industries, ranging from energy, automotive and real estate to private equity, construction and pharmacy.

In project development it advises clients on various regulatory matters.

Wolf Theiss & Asociaţii is a corporate law firm with an office in Bucharest, Romania. Since its opening in 2005 the team has grown to over 25 lawyers.

Focusses / specialisms

The firm is active in banking and finance and corporate and M&A.

In banking and finance it advises mostly lenders but also borrowers on direct financing agreements, project financing, as well as on regulatory matters such as structuring financial services and anti-money laundering compliance. It also has experience advising issuers on note issues.

In corporate and M&A it advises sellers and buyers on sales, acquisitions, joint ventures and share transfers. The firm works on projects in a long list of sectors, ranging from private equity and investment to IT, insurance, construction, pharmacy and manufacturing.

Key clients

Among its clients are Enercon GmbH, Enery Development GmbH, Elvaston Capital, Ergo Group, GlaxoSmithKline, Glovoapp23, Greater Sum Ventures, Holmbergs Safety Systems Holding, House of HR, Ingka Investments (Ikea Group), Snyk, Taparo & Techtex Group, Total Specific Solution, Trillium Corporate, Vienna Insurance Group, Visma AS and Johnson Controls.

Client Feedback: 32nd edition (2022/2023)

M&A

“Wolf Theiss was always available and accessible on a short notice and made work a time schedule that was often very tight. They navigated very ably the complexities of a cross-border closing with high attention to detail and logistics.”

“Wolf Theiss team actively followed all the due diligence activities relating to the Romanian subsidiary involved in the transaction as well as all the formalities needed to complete the capital increase of the latter.”

Peli Partners is a full-service law firm based in Bucharest, Romania.

Focusses / specialisms

The firm is active in banking and finance and in corporate and M&A, advising clients on both domestic and cross-border transactions.

Key clients

Among its clients are Banca Transilvania, Mitiska REIM, Oresa Group, Scallier, Mega Company Group, Adventum Quartum Central Europe SICAV, Jones Lang LaSalle Services, Portland Trust and Skanska.

Client Feedback: 32nd edition (2022/2023)

M&A

“They are simply amazing: incredible market knowledge, extremely proactive to point out weaknesses or opportunities also in areas that were not explicitly in the focus. Solid reputation among their peers: their presence at the negotiation table gave us an extra edge. Very fast in document turnaround. Very professional even with smaller clients - we are probably among their smaller clients.”

“Professionalism and hardworking, capable to find best solutions.”