Romania

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.

Focusses / specialisms

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 in oil and gas, technology and telecommunications, utilities, and industrials and manufacturing.

Key clients

Among its clients are Smart Diesel, Globalfood Tech, Roca Industry, BlackPeak Southeast Europe, SN Nuclearelectrica, Solar Power Energy, Apuron Energy, Vastint Romania, Honeywell Corporation, DAAS Impex, Blue Projects Group, CNMX Cinema Company and Interoil Agritrading.

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

During the research cycle the firm was active in corporate and M&A. It assisted clients on the acquisition side on acquisition in investment management, utilities and real estate. It advised clients on the sell side in technology and telecommunications utilities and transport. It has a prolific record of working on behalf of joint-venture partners on joint-ventures in food and beverage, transport and gaming, and on behalf of merger parties in mergers of businesses mostly in industrials and manufacturing.

Its financing practice includes assisting clients with share capital increases.

Recent staffing changes include the recruitment of Roxana Dudău, a partner in real estate, hired from S.P.R.L. Menzer & Bachmann – Noerr.

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

BlackPeak Southeast Europe’s investment in Verdino Green foods

CNMX Cinema Company €3 million share capital increase

Cooperativa de Energie €400 000 acquisition of Apuron

DKV’s acquisition of Smart Diesel

Interoil Agritrading €6 million share capital increase

Oracle’s acquisition of Globalfood Tech

Roca Industry’s acquisition of Eco Euro Doors

SN Nuclearelectrica’s acquisition of Compania Nationala a Uraniului

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

M&A

"Good connection with legal advisers in other jurisdictions as needed. Very fast, exceeding expectations in the quality of their work. Wide area of expertise."

"I can delegate complex tasks and they understand and deliver beyond my expectations. They are very fast. They bill fairly and don't overinflate their fees."

"Professionalism, legal and business expertise."

"Solid legal knowledge; strong business acumen; great communication skills - they are able to explain in plain language complex legal issues. "

"They are very committed, engaged in delivering best solutions for the project. They had very good professional relations with the sellers and other advisers involved in project."

"They managed to understand quickly how we do things and the exact kind of assistance we require and thus provided us the help we actually needed - tailor made and not some standard procedures."

Radu Diaconu

"He is very committed to delivering best solution."

"Radu is very interested in understanding in depth the matter at stake and the actual needs of the client."

"Knowledge and professionalism."

Stefan Mantea

"Fast. Accurate. Takes initiative. Understands complex work and even if my brief is incomplete or inaccurate, he knows to ask the right questions because he is not only executing but also thinking from all angles."

"Stefan is a great lawyer. He is able to handle complex legal mandates; he is committed to accomplishing the client's goals; he is a very good negotiator."

"Very efficient, very resourceful, exceeding expectations, problem solver."

Andrei Stefanovici 

"Highly competent; friendly client relationship; personalized approach; responsive."

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.

Focusses / specialisms

The firm is experienced in providing transactional and financial services regulatory advice in the banking sector as well as advice in corporate and M&A.

In banking it assists borrowers on financing transactions.

In corporate and M&A it assists acquirers and sellers in acquisitions of shares and mergers in sectors including banking, real estate, logistics, healthcare, and energy.

Key clients

Among its clients are Vista Bank Romania, Signal Iduna Asigurare-Reasigurare and Banca Transilvania.

Research period review: 33rd edition (2023/2024)

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

In M&A the firm assisted a mix of domestic acquirers and sellers from the consumer goods and services, healthcare, financial services and pharmaceuticals sectors on a mix of acquisitions and mergers.

Deal highlights: 33rd edition (2023/2024)

Anima Speciality Medical Services acquisition of M-Profilaxis

Banca Transilvania acquisition of Tirac Leasing

Client Feedback: 33rd edition (2023/2024)

M&A

“Professionalism, quick answers.”

"Professionalism, promptness and responsibility.”

“D&B has an experienced M&A team. They have a good business understanding and adapted very well to our requirements. Both the due diligence reports and the contracts addressed our business needs and the specifics of each transaction. They have fantastic project management that makes our life much easier. Anda Rojanschi is known on the market for her experience in transactions, in particular in healthcare. She has a friendly approach, looks for solutions and understands what is important for us.”

Romana Petre

“Professionalism, experienced.”

Anda Rojanschi

“Anda Rojanschi is known in the market for her experience in transactions, in particular in healthcare. She has a friendly approach, looks for solutions and understands what is important for the client.”

“Professional.”

Leroy & Asociaţii is a full-service Romanian firm established in 1998 after a spin-off from Gide Leroy & Asociaţii.

Focusses / specialisms

The firm has experience across all areas of financial and corporate law.

The firm has developed strong relationships with the Romanian banking industry, as well as, with prominent foreign financial institutions. It advises on a wide range of financing from corporate lending and acquisition finance to securitisations.

The firm has the capacity to advise on debt and equity issues, having led IPOs and worked with investment banks as underwriters.

Its corporate practice has experience in both cross-border and international M&A transactions, joint ventures, and equity investments. It has advised on public and private deals.

The firm’s project development experience includes defence, utilities and highway projects and experience in PPPs and procurement.

Key clients

Among its clients are BNP Paribas, The International Swaps and Derivatives Association, The International Capital Market Association, The International Securities Lending Association.

Research period review: 33rd edition (2023/2024)  

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

In banking and finance the firm advised clients from the banking and financial services sectors on financing and regulatory work.

In capital markets the firm was active on both debt and equity transactions with a particular focus on regulatory work for clients in banking and financial services.

In M&A the firm advised a mix of acquirers, sellers and targets from the utilities, construction, consumer goods and pharmaceuticals sectors on a mix of acquisitions and investments.

In project development their work focused on assisting developers with a mix of project work including real estate projects and regulatory advice.

Muşat & Asociaţii was founded nearly 30 years ago in Bucharest, Romania.

Focusses / specialisms

The firm has a track-record advising mostly foreign clients on cross-border deals across all areas of financial and corporate law as well as in project development.

In banking and finance the firm advises borrowers and lenders on project financing, acquisition finance, credit facilities, refinancing, securitisations, and financial services regulatory work.

In capital markets it advises issuers on public offerings, derivatives, and IPOs.

In corporate and M&A it assists clients on corporate governance matters.

In project development it represents developers and contractors in PPPs, tenders, and on the overall design and implementation of projects in utilities, defence, renewable energy, infrastructure.

In restructuring and insolvency, it advises companies on restructurings and liquidations.

Key clients

Among its clients are BCR Banca Pentru Locuinte, Ministry of Finance of Romania, European Bank for Reconstruction and Development, ATOS, Rakuten, Worldline, Morningstar, Hidroelectrica, Ecolab, Damen Shipyards Group, Engie Group, Premier Capital Group, Amazon, FedEx, Sika, Leviatan Design, Damen Group, Motorola Solutions, Anadolu Automobil, Ubitech Construcții and Copraag Entrepreneur.

Research period review: 33rd edition (2023/2024)

During the research cycle the firm was active banking and finance, capital markets, corporate and M&A, and project development.

In banking and finance the firm was particularly active in assisting clients in banking and financial services on a mix of financing and regulatory matters.

In capital markets the firm worked on employee share offerings.

In corporate and M&A it was active in advising the acquirers on acquisitions and restructurings for clients in various industries, including and most especially the technology and telecommunications sector.

In project development the firm mainly assisted clients from the construction sector on tender-related work.

Deal highlights: 33rd edition (2023/2024)

CATTED Group financing

Ecolab acquisition of Purolite Corporation

Hidroconstructia $386 million insolvency

Hill Properties acquisition of MIRO

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.

Focusses / specialisms

The firm has a track-record advising both local and foreign clients on mostly cross-border transactions, covering all practice area in corporate law and project development. One of their specialties is debt, corporate and business restructurings.

In banking and finance, it advises lenders and borrowers on a variety of financings such as syndicate loans, acquisition finance, project finance, and credit facilities.

In capital markets it is experienced in advising clients on various capital markets matters and regulatory issues including to exits and sales of shares and capital markets’ infrastructure.

In corporate and M&A the firm advises seller and buyers on acquisitions in various industries, ranging from pharmacy and energy to transport and infrastructure.

In project development the firm assists developers and investors on project implementation, tender procedures, public procurement and on various regulatory matter in energy, real-estate, transport and infrastructure.

In restructuring and insolvency, it is experienced in assisting companies in corporate restructurings.

Key clients

Among its clients are Aaylex System Group, Banca Comerciala Romana, CTP, Simtel Team, Purolite, Tech Mahindra, Getin Holding Group, Insight Investment, Safety Broker, Medicover, DKV Group, ExxonMobil, Alternus Energy Group, ExxonMobil Development Company, EuroAgregate, Lerta Energy and Siemens Mobility.

Research period review: 33rd edition (2023/2024)

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

The banking and finance team advised agents, borrowers and lenders from the banking sector on a range of financing, including notably syndicated lending work.

In capital markets the firm advised issuers on the private placements of shares.

In corporate and M&A the firm advised all sides of the table, including sellers, acquirers and joint-venture partners and investors from the food and beverage, healthcare and pharmaceuticals, transport and energy sectors on a range of transactions.

In project development the firm advised mainly developers and bidders from the energy, construction and manufacturing sectors on projects.

Deal highlights: 33rd edition (2023/2024)

Aaylex One financing

Ameropa Group €347 million financing

International Game Technology $160 million acquisition of iSoftBet

Unilink acquisition of Safety Broker stake

Client Feedback: 33rd edition (2023/2024)

Banking and finance

“Professional. Open minded. Fast response. Dedicated counsellor.”

Leveraged finance

“Very well-prepared lawyers, always responding on time; also, very commercial attitude, aiming for a smooth closure.”

M&A

“The NNDKP team provided us with outstanding advice during the due diligence process. Their research and analytical skills on M&A were key for us during this process.”

"NNDKP is the go-to firm for both M&A and oil and gas legal support in Romania. They have a very deep bench of legal talent and provide invaluable strategic insights into doing business in the region. They collaborate extremely well across practice groups to provide the range of advice required to execute a project successfully. A client can have full trust that it will receive timely, accurate and insightful advice from NNDKP.”

"They are very knowledgeable, responsive, helpful and personable. They are also very efficient with preparing documents, always meet deadlines and provide timely, clear, commercial advice.”

"They are responsive and proactive, provide extremely thorough advice, and are trustworthy.”

"Professional, to the point, focused on value for the project. Going beyond pre-defined scope if required to get clear assessment. Knowledgeable. And smooth in collaboration.”

Vlad Anghel

“Vlad is an excellent technical lawyer and also has great project management skills. He is a pleasure to work with and is always reliable and delivers helpful advice and work products ahead of deadlines."

Ruxandra Bologa

“Ruxandra's knowledge on natural resources and M&A is one of the reasons we have used NNDKP for over a decade. She is solution-orientated, very responsive, attentive to detail and always on time."

“Ruxandra Bologa skilfully pairs a deep knowledge of the law with creativity to provide accurate, timely and insightful legal advice to the client. She listens to clients to understand their requirements and expectations, and consistently delivers. She collaborates extremely well across practice groups to provide the range of advice required to execute a project successfully.”

“Ruxandra is a very thorough and experienced lawyer. She is a complete professional and one of the best among energy legal advisers.”

“Clear communicator, knowledgeable, practical.”

Alexandru Ciambur

“Very good client management, hard-working, well prepared."

“Professional approach. Stress-resistant. Hard-working.”

Ioana Grigoriu

“Ioana is an impressive lawyer, very knowledgeable, responsive and efficient.”

Mirela Preda

“Mirela is an outstanding lawyer, extremely dedicated and a pleasure to work with.”

Razvan Vlad

“Razvan gives clear advice on technical aspects of Romanian legal requirements and steers the project very well, keeping the desired commercial outcome firmly front of mind. He builds excellent relationships with clients and other law firms and delivers very helpful advice and documentation.

Valentin Voinescu

“Positive approach. Analytical person.”

"Very well prepared, deep knowledge of the market.”

Popescu & Asociatii is a full-service law firm based in Bucharest.

Focusses / specialisms

In banking and finance the firm advises mainly lenders financing deals.

In capital markets the firm provides local institutions with regulatory advice.

In corporate and M&A it assists sellers and acquirers on sales and corporate matters,

In project development it advises developers on participation in tenders and on environmental regulatory matters.

Key clients

Among its clients are Banca Transilvania, ING Bank Romania, Mytilineos Holding, B2Kapital, Sometra, Teamnet International, Electrica Furnizare and Compania Nationala De Cai Ferate.

Research period review: 33rd edition (2023/2024)

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

In banking and finance the firm advised a mix of borrowers and lenders from the banking, financial services, tech and natural resources sectors on transactions.

In corporate and M&A the firm’s work focused on acquisitions and investments work, as well as some restructuring and insolvency work for a mix of investors and sellers from the real estate, energy and financial services sectors.

In project development the firm was active in advising mostly developers on projects in the transport and energy sectors.

During the research period the firm recruited Gheorghe Buta from Musat & Associati.

Deal highlights: 33rd edition (2023/2024)

ABC Medicover acquisition of Mediplus company

Bucharest city to Henry Coanda airport subway project

Chimcomplex acquisition of Oltchim assets

Oltchim insolvency

Sinaia Park & Ride project

Teamnet International debt restructuring

Client Feedback: 33rd edition (2023/2024)

Banking and finance

“The strength of Popescu & Asociatii lies in its excellent client service, matched with leading technical legal expertise. For complex legal matters, Popescu is the leader in this market, and they provide great value for money on large and complicated transactions. The lawyers have great multidisciplinary teams and a strong client-focused work ethic to ensure the required outcomes are achieved for the business. The way they engage with you makes transactions and advice seamless.”

“The Popescu & Asociatii team has shown impeccable quality in its advice, conduct and deliverables, which has allowed us to manage our internal timeline smoothly. We appreciate them for the experience, commitment to clients and solution-orientated approach to complex issues, as well as deep industry knowledge and extensive experience in structured transactions, debt and cross-border deals. In addition, they are very pragmatic and able to identify the key issues quickly and provide commercial and astute advice, extremely cost-effective, and in Romania their client service for advice is second to none.”

“Very strong knowledge and experience that allows them to give thoughtful advice and pragmatic/focused legal solutions. High standards of customer service.”

M&A

“They have positioned themselves very well within the market, the work provided is always of excellent quality and they complied diligently with deadlines. Their partners pay special attention to getting to know the core business of the company to determine which paths to follow and to advise us in the best way. They have given us excellent service until now. They are the most well-rounded and specialised firm in Romania in the field of corporate, commercial, and mergers and acquisitions. They are sensitive to clients' needs and they are skilled in the interpretation of local legislation. They watch our back and advise us in these unique mandates. They have proved to be an amazing business partner and almost a team member, understanding our requirements perfectly and successfully meeting our needs in a timely and cost-efficient manner.”

Project development

“They are just great. Practical and intelligent. Since we have been working with them, we finally feel that we have not only lawyers but also collaborators.”

“They have a fabulous ability to handle complex and sophisticated matters. As we are a real estate and construction company, most of our projects involve a lot of technical details which are very difficult to understand for a non-professional, but at the same time, such technical aspects have a great impact on our projects. The lawyers from Popescu & Asociatii have shown from the very beginning an interest to understand such technical details and made a very good job of translating them into legal aspects. For us, this was a very good example of how good they are in legal matters. The team of lawyers who assisted us was very well integrated and consolidated, including both lawyers with great professional experience and young lawyers of great help in legal research. We are looking for and appreciate a team of lawyers that is 100% involved in our case. We know each member of the team and we have total confidence in them, this being the reason we have chosen them to assist us.”

Restructuring

“One of the best insolvency and litigation law firms in Romania. They do tidy, methodical and strategic work. A great virtue they have is their experience in highly complex insolvencies and litigations. I have the best opinion of their eagerness to assist clients with insight and tactics when negotiating. It is a very experienced team that has diverse areas of specialisation, and which provides good legal analyses in order to resolve restructuring issues. Every single Popescu & Asociatii lawyer I have dealt with has shown an impressive level of commercial awareness. It is clear to me that the firm nurtures an institutional culture of always having the client's business needs at the forefront of everything it does.”

Iuliana Bidalache

“She is a great lawyer and insolvency practitioner who is not overly cautious. She makes her presence felt and defends our interests with solid legal grounds, doing excellent work, being very client-orientated and having tremendous expertise in handling complex procedures. She is decisive and rigorous, a professional who, before giving an opinion, thinks carefully and studies the case.”

Constantin Branzan

“Constantin is one of the most experienced lawyers and arbitrators with whom we worked from Popescu & Asociatii. His well-known professional reputation has convinced us that his presence in the team was more than valuable and gave us more confidence.”

Andreea Mihalache

“A valuable team member. She is the trump card in all the situations in which they have to make a difference.”

Loredana Popescu

“Loredana is the partner you want to have alongside you. She is commercially savvy, her knowledge of our business was invaluable, and her ability to cut straight through to the underlying issues enabled us to balance and manage our risks while driving the process forward at the same time. We wouldn’t have been comfortable without Loredana’s involvement, as she acted as the binding agent between all the respective parties.”

“She pays no effort to adapt to changing project circumstances and to provide alternative plans; she has the capacity to understand in-depth regulatory requirements and has a strategic vision that always helps us to obtain the best outcome. Her win rate is very high.”

“Loredana is very helpful in the construction and real estate matters, especially since she gave us the best advice both in terms of legal and commercial. We praise her knowledge, and we are fully confident in her advice.”

“She is a very communicative practitioner, focused on providing great service to clients and ensuring ease of working with her. She has a strong focus on client care, strong understanding of the commercial realities facing businesses and commitment to making sure the advice they get is fit for purpose, being an especially accessible and commercial adviser. She can pick up the phone and quickly interpret an issue and how the law applies to it, within the context of her understanding of our business.”

“She is a super lawyer. Very thoughtful in everything she does, correct advice and a lot of vision in the development of projects. For example, with us, she was the only one who predicted the way in which the project would be developed from beginning to end, without error.”

Octavian Popescu

“The mastermind behind the scenes. We love him very much. His touch on every project is worth every penny.”

“My experience with Octavian is outstanding. From the top to the bottom, he made a real impact and had the right focus on solving the key issues for us. Very technically competent and a great communicator, Octavian consistently provides timely and high-quality advice and guidance, having a long, solid relationship with clients and a stellar reputation. We highly appreciate the capacity he has to listen attentively and his very important knowledge on the matters at hand. He is always seeking out solutions that serve the expectation of the other party as well. An excellent commercial and transactional attorney, but also a tough opponent in court and trials.”

“Octavian is the only lawyer you want to have alongside you. He is highly responsive and has deep knowledge in the field, understanding our business very well, being very involved in each case. He is very professional, calm and collected during tense negotiations, providing leadership to handle the matter at hand. We would never have solved the insolvency disputes without his expertise.”

“Very experienced, calm and considerate, offering pragmatic and innovative solutions, very prompt and focused on our needs.”

Anca Simeria

“Her advice is outstanding. Her depth of knowledge and guidance were instrumental to our achieving a successful outcome, and I felt completely comfortable with her behind all the process.”

"She is very sharp. Tremendous knowledge and high quality in writing.”

“She is a reliable negotiator, being proactive in clarifying matters and seeking solutions, and is very grounded in her view of how things work and do not work in Romania. Her working style, professional capabilities and skills are outstanding, and I consider her to be a very capable, reliable and highly experienced attorney.”

“Indeed a smart lawyer. Very focused on what she is doing and gives deep thought.”

Nicoleta Tandareanu

“She is THE insolvency guru in Romania. She has the most comprehensive approach that you can get in this area, using at the same time her leverage as a former judge and the capability of the lawyer.”

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.

Focusses / specialisms

The firm has experience advising foreign and local clients on local and cross-border deals across all areas of corporate law.

In banking and finance the firm advises lender and borrows on a broad range of transactions, ranging from loan facilities to project finance and acquisition finance.

It advises clients in capital markets on various regulatory matters related to offering products and services, and investment activities, as well as bond issues and IPOs.

It supports clients in corporate and M&A on acquisitions, joint ventures and sales in various industries, including financial services, TMT, retail, healthcare, and infrastructure. It works on behalf of the sell and the buy sides.

In project development the firm often assists developers and infrastructure funds with development and regulatory advice on projects in industries which includes renewables and traditional energy.

Key clients

Among its clients are Innova/6 GP, Oresa Ventures, Rodbun Grup, KBC Bank, BNP Paribas Fortis, LKE Group, EBRD, Unicredit Bank, Ascendis Wellness, Sano Vita, Autonom Services, Unicredit Bank, Credit Suisse, BNP Paribas, Grup Serban Holding, ING Bank, EDP Renewables, Macquarie Infrastructure and Real Assets, Uniper Global Commodities and China Huadian Engineering.

Research period review: 33rd edition (2023/2024)   

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

In banking and finance the firm advised both borrowers and lenders from the banking, energy, agriculture and consumer goods sectors on various types of financing including notably syndicated lending work.

In capital markets the firm advised a mix of issuers, arrangers and underwriters in financial services on both debt and equity transactions.

The corporate and M&A team advised was active on both the acquirers' and sellers' side in transactions, working for clients in a range of sectors including agriculture, financial services, energy, technology and telecommunications and investment management.

In project development the firm’s work focused on assisting with domestic energy sector related projects.

Deal highlights: 33rd edition (2023/2024)

African Industries Group acquisition of World Class Romania

Alpega €10 million financing

Bucharest fibre optic cable project

PepsiCo acquisition of AQUA Carpatica stake

Client Feedback: 33rd edition (2023/2024)

Bank lending

“I like RTPR’s banking team because they are very client-orientated, responsive and friendly. One can feel they are very experienced because they can offer real-time solutions and answers in a very convincing and confident manner. They are prompt, reliable and ready to step in whenever we need them.”

“RTPR have a top-tier financing practice and a very experienced team that can assist in very complex cutting-edge financing transactions. I am very happy with the assistance provided by their team led by partner Cosmin Tilea assisted by senior associate Andreea Nedeloiu. RTPR’s team is very helpful, provides excellent commercial and legal advice and they are better than everyone on market practice and how to deal with difficult negotiations with banks. The fact that they are assisting both lenders and sponsors helps them to know how to negotiate any clause from every angle and this is their main advantage against other law firms.”

"Proactive and reactive, quality support, speed of execution."

"RTPR provide excellent advice for the most difficult aspects of a contract.”

Banking

“Availability, professionalism, local banking knowledge.”

“They are commercial and client-orientated and have a broad understanding of both the legal and business side of their clients’ needs.”

"Promptness. Proactiveness. Solution-orientated. Ethical and upstanding.”

"Very knowledgeable, solution-orientated, good with deadlines, good communicators.”

Banking and finance

“They are an excellent team made up of deal-driven and highly qualified lawyers who provide excellent legal assistance in the most challenging deals. They are very responsive and available round the clock. I think they are the best banking and finance team in town. Their affiliation to the Allen & Overy network gives them access to excellent training and cutting-edge legal resources and this helps them to be at the top of the league.”

"RTPR had an extremely professional and dedicated team throughout the entire process on which we have collaborated. All team members had a proactive attitude, focused on finding diligent solutions to all issues/questions that arose, and the collaboration with them went very well and smooth overall.”

"Very diligent, solution-orientated, always available.”

"They are a great time saver, reliable, to the point. A true 'turn-key contractor'. They will take the work and handle it and only involve in-house counsel when needed.”

"Deep knowledge of the transaction, related documentation and implications.”

Capital markets

"They are very prompt, professional, knowledgeable and eager to find solutions.”

“Experienced team, practical and effective approach, understanding of business needs.”

"Very experienced team both in terms of knowledge and experience. They are client-orientated, focus on understanding the client's business needs and finding the most effective solutions.”

"RTPR acted as the legal adviser of the transaction, and they performed their duties in a very qualitative way, being supportive, proactive and solution-driven.”

"A strong knowledge of the law in the area of interest. Decision-making skills. Great communication skills. Attention to detail and accuracy. Teamwork, responsiveness, analytical skills. Solution-focused.”

"RTPR stands out for the quality of its service – high professionalism, availability, finding practical solutions.”

M&A

“Business-orientated advice, easy to understand, with practical solutions and ideas.”

“Very knowledgeable, professional and commercial.”

“Professional, diligent and with a good understanding of the commercial issues involved in the deal.”

"Excellent lawyers – thoughtful, precise, knowledgeable, commercial, hard-working.”

"Experienced lawyers, proactive, innovative ideas, always close to the client.”

"Extended expertise, customer focus and efficiency.”

"Radu Taracila Padurari Retevoescu – Allen & Overy have fully lived up to their reputation, proving to be the most professional M&A lawyers in the commercial field, with full focus on results.”

"Very close to client on every aspect of the transaction. Very good commercial understanding and a great ability to pivot according to commercial terms. Very good communication. Extremely knowledgeable in their work. They have a wonderful team, with a very strong professional approach.”

"Excellent on giving transactional advice and legal due diligence.”

"Everything! From the first step to the successful completion of the entire process we were supported and guided with professionalism, reliability, speed and understanding.”

"Quality of work, smart, diligent.”

"Highly professional consultancy and guidelines, very emphatic support.”

"One of the best M&A track records in the market. Very good commercial understanding of client's needs. Multidisciplinary team with deep knowledge (theoretical and market trends) in M&A deals as well as across the relevant industries. Advice is solidly substantiated and commercially relevant.”

"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; they are solution-orientated and have a down-to-earth approach; and 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 make a mistake if you choose them.”

Project development

“RTPR's team is very focused and well organised. They respond quickly, have very good adaptability to any deviations within the project and are efficient under pressure.”

“Broad knowledge of both M&A and Romanian local market specifics, providing qualified guidance to the buyer during its first entrance to the Romanian market.”

Ana Barbu

“Ana has excellent knowledge and strong experience and demonstrates professionalism and provides high-quality services.”

“Knowledgeable and empathetic.”

Urzica Cezara

“Solid contributor, very good communication.”

Bogdan Cordos

“Great insights in terms of the industries we were looking into (energy, real estate), very practical approach, excellent knowledge and strong experience of the energy market.”

Bianca Eremia

“Intelligent, assertive, hard-working, honest, capable, quick, trustworthy, she know very well business status, positive person.”

“Very proficient, knowledgeable, responsive.”

“Bianca is very responsive, proactive and proposes smart solutions. She does a great job under Cosmin Tilea's supervision.”

“Enthusiasm, responsiveness, solution-orientated approach and a pleasure to work with.”

Marina Fecheta-Giurgica

“She is always very prompt and eager to help, her professional knowledge is quite ample.”

"Very knowledgeable and commercial."

Roxana Ionescu

“Very experienced M&A practitioner, wisely navigating through the M&A process.”

Andreea Nedeloiu

“Prompt. Excellent communication skills. Excellent at listening and implementing commercial agreements. Excellent banking and financial knowledge.”

“Very positive attitude and proactive. Cross legal expertise (corporate, banking, commercial). Meets the deadlines. Business-orientated 'the peace itself' – very useful for hard moments.”

“Andreea is a new coming star. She is a very smart, knowledgeable and responsive lawyer.”

“Involvement, knowledge, people skills.”

“Andreea is an extremely diligent, professional and well-prepared lawyer, all the time ready to jump in and help. During the collaboration we have had with her, she has been extremely proactive, and the collaboration was developed on very good terms. She has a strong knowledge of the financial-banking environment and provided valuable insights throughout the project's duration.”

Victor Padurari

“An amazing all-round lawyer with great team management skills, allowing work to run smoothly at all levels.”

Mihai Ristici

“He is eager to help and find solutions, he is very knowledgeable.”

“MIhai is a skilled lawyer and fine negotiator. He is calm and focused on finding the most effective solutions. He gives comfort that things are managed timely and professionally. Simply, he is a trusted adviser for ECM transactions in Romania.”

“Mihai is one of the best legal experts in equity capital markets in Romania. Mihai combines legal knowledge, practical approach and fine negotiating skills. He is always calm and precise. He manages the projects smoothly, even when under time pressure or when facing complex problems. It is always a pleasure to work with Mihai.”

“M&A leader, great in identifying solutions to client needs and always delivers creative solutions even in tense moments, very commercial.”

“Very good professional and coordinator.”

“Very good communication, knowledge, solution-driven.”

“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 hin 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.”

Vlad Stamatescu

“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 attentive to the client's overall position. Probably the best word to use for him is 'assuring' – whenever you have him by your side, you can be certain that your deal is safe – you will see it finalised with the fewest impediments and with the most legal certainty for you.”

“A highly skilled capital markets lawyer, with strong knowledge of the law in the area of interest. Vlad is an effective communicator with attention to detail and accuracy. Works well in a team, is responsive and has very good analytical skills. He is a solution-focused lawyer who knows and understands all relevant information so that he can make an informed decision.”

“Thorough and knowledgeable, but also practical on deals, great project management and understanding of our business context. Also very effective under the pressure of tight deadlines. We always had quality interactions with him which makes Vlad fun to work with.”

“Very good professional, solutions-finder, calm, available.”

Alina Stavaru

“One of the best M&A lawyers in Romania. Availability; very strong legal knowledge; pragmatic and business-orientated; very good negotiator.”

“Very professional, with a lot of legal knowledge and also knowledge in our sector, IT services.”

“Responsive, creative and knowledgeable.”

“Efficient, deep domain expertise, excellent communication.”

“Analytical and research skills. Detail-orientated.”

“Professionalism, seriousness, communication skills, business understanding, empathy, punctuality, perseverance.”

“Smart, availability, diligence, focus on client's benefit.”

Costin Taracila

“Costin shows creativity, speed, negotiation abilities and a very good understanding of our business context.”

“Very knowledgeable and commercial.”

“Excellent senior lawyer, with gravitas, on top of detail and very commercial.”

“Exceptional analytical and negotiation skills.”

“Broad overview of business and law environment in Romania.”

Cosmin Tilea

"Excellent communication, client proximity, understands the importance and urgency of work and delivers accordingly.”

“Smart, business-orientated, legal expertise.

“I have been working for the last five years with a team coordinated by Cosmin Tilea (partner). If I have to define Cosmin Tilea, I would say he is a 'problem-solver' because he is always able to come up with the best solutions to the most complex issues. He is sharp, confident and very skilled in negotiation of financing agreements. He understands very well what is critical for his client and manages to obtain the best outcome during negotiations. He is a real dealmaker (I’ve heard this from other peers as well) because he manages to close complex deals smoothly and in record time and has a very good relationship with other local law firms. I think he does a great job for us and our deals are in good hands with Cosmin as our trustful adviser!”

“Availability, communication, sectoral and legal knowledge, very warm and nice, business-orientated.”

“Has extensive experience in cross-border financings, project finance transactions and energy matters.”

“Cosmin Tilea is very clever and offers very ingenious solutions when structuring deals. He is a great communicator with concise advice both for in-house legal team and management. Technically he is a super-lawyer who combines legal knowledge with superb negotiation skills and an amazing understanding of the client’s business and the overall oil & gas industry. He is innovative, thoughtful, rigorous and very pragmatic. 'FLAWLESS' in one word.”

“Cosmin Tilea is an outstanding finance lawyer and a true market leader. He has great tactics, leads negotiations in a very constructive manner, has great legal and negotiation skills, a great capacity to anticipate the opponent’s arguments and he is very convincing. He is very experienced both on lenders and sponsors side and knows very well how to approach any issue and find excellent solutions to meet our goals. He is fully involved in the deals and I am truly impressed by his dedication and responsiveness. I have no doubt that we will continue to appoint RTPR’s team led by Cosmin Tilea in any of our financing deals.”

Andrei Tosa

“Implementing all the requirements that we discussed. Very good suggestions on the changes that we can make to protect our company in a better way.”

“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.”

Ianita Tui

“Iana is one of the most experienced lawyers in public procurement that we worked with; she provides very creative and practical approaches; I admire her thorough researches and deal focus. Iana cooperates effectively and perfectly with our internal team. She always gets the deal done in the most suitable way for us even in the public sector domain.”

Cezara Urzica

“Very diligent, knowledgeable and professional.”

“Good communication and analytical skills. Working quickly and accurately to complete tasks. Using resources wisely and finding ways to maximise productivity.”

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.

Focusses / specialisms

The banking team has a dominant buy-side market share in the NPL market where it acts on large regional transactions. In the financing space the firm acts for domestic and international lenders in the financing of corporations, acquisitions and projects across various sectors.

In capital markets work the firm has a strong regulatory expertise, advising its clients on compliance matters. The team also advises multinational companies on the establishment of stock options programmes.

The firm's M&A practice covers both public and private transactions across wide range of sectors. It also works alongside large international law firms on global transactions.

In the projects space the firm is active across various sectors advising domestic and foreign investors on a range of contract award procedures.

Key clients

Among its clients are Bain Capital, Alpha Bank, Banca Comerciala Romana, Banca Transilvania, Erste Group Bank, OTP Bank, Raiffeisen Bank, Unicredit Bank, OTP Bank Romania, KBC Bank, Banca Comerciala Romana, Black Sea Trade and Development Bank.

Research period review: 33rd edition (2023/2024) 

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

In banking and finance the firm advised mainly lenders but also represented a few borrowers and agents, all from the banking and financial services sectors, on various financing.

In M&A the firm’s work focused on working mainly for acquirers linked to the consumer goods and services sector on a range of domestic and cross-border transactions.

In project development the firm advised mainly developers and concessionaires on projects in various sectors, but especially energy sector related work.

Deal highlights: 33rd edition (2023/2024)

APS Capital Group €147 million acquisition of Bank of Cyprus NPL portfolio

MedLife €228 million financing

Pehart Group €78 million financing

Smithfield Foods Group acquisition of Goodies Meat Production

Client Feedback: 33rd edition (2023/2024)

M&A

“Professionalism. Covering many legal areas in the office. Business-orientated.”

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

The quality of services is good for the fees.

Project development

"Very professional and skilled."

Cătălin Băiculescu

“Understands our business. Professional. Targeting problem-solving and to obtain the desired results.”

Razvan Gheorghiu-Testa

“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.”

Serban Paslaru

“Availability at any time.”

Robert Rosu

“Positive approach and availability to meet needs.”

Oana Ureche

“Very knowledgeable, good understanding of the business and solution orientated.”

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.

Focusses / specialisms

The firm focuses mainly on M&A, commercial and corporate areas, assisting on complex transactions involving assets/shares acquisitions, due diligence and joint ventures. 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.

Client Feedback: 32nd edition (2022/2023)

M&A

“They have reliable knowledge in the area of real estate and construction contracts and generally on commercial matters. They are available and prompt. They provide clear advice. They are rigorous when it comes to revising complex contracts.”

“AS Legal Advice provided us valuable input on the implications of our association with the foreign partner. They were prompt, their advice was clear, complete and the manner of revising the documents thoroughly and yet business oriented.”

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.

Vlasceanu, Nyerges & Partners is a boutique law firm specialized on energy and environment which established its office in Bucharest, Romania, in 2006.

Focusses / specialisms

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.

Key clients

Among its clients are Econergy Group, Shikun & Binui Energy, Ima Partners, Horia Manda, Essensys Software, Viticola Sarica Niculitel Group, Dietsmann Group, Star Storage, Axxess Capital Partners, Rig Service and ASRA Wse Engineering.

Client Feedback: 32nd edition (2022/2023)

M&A

“They are very smart and reliable. It is obvious that they have extensive experience in M & A in renewable industry.”

Project development

“Good understanding if the local environment and regulation.”

Voicu & Filipescu 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.”