Clifford Chance Badea awarded for the Romgaz IPO
Capital Markets Awards Gala organized by the Romanian Brokers Association granted Clifford Chance Badea the Award for Legal Advisory provided on the dual listing of shares and GDRs by Romgaz, the largest natural-gas producer in Romania, on the Bucharest and London stock exchanges, the law firm announced today.
"We are honoured to have been part of a deal that made history for the Romanian Capital Market," said Madalina Rachieru, Counsel within the Capital Markets practice area of Clifford Chance Badea.
"This was the country's largest initial public offering and the first IPO of a state-owned company done at international standards. Clifford Chance Badea was involved in all the stages of the deal, from due diligence and drafting of the prospectus to the drafting and negotiation of the transaction documents."
The Firm had a lead team of 10 to 12 Romanian, English and American lawyers that were coordinated by 3 partners from the Bucharest and London offices (Daniel Badea on Romanian law, Adrian Cartwright on English law and Bob Trefny on American law, respectively). At times, when the deal intensity peaked, the team grew to up to 25 lawyers. The entire process was directly coordinated by Madalina Rachieru, Counsel and Radu Ropota, Senior Associate.
Daniel Badea, Managing Partner of Clifford Chance Badea, added: "This award acknowledges the performance of a very active capital markets team. For three years in a row now, the international guide IFLR 1000 has ranked Clifford Chance Badea as a Tier 1 law firm for its Banking & Capital Markets practice. We were involved in virtually all the major capital markets transactions in Romania, which stand for best practices examples at international standards. The recent successful IPO has placed Romania on the international investors′ roadmap and is a window of opportunity that I hope the capital market, the business environment and the public sector in Romania will benefit from."
The Capital Markets practice of Clifford Chance Badea includes ten lawyers and is coordinated by Madalina Rachieru. Usually, the team provides legal assistance to underwriting syndicates, but it has a similarly strong experience in assisting issuers as well. Clifford Chance has been present in Romania since 2006 and operates now as Clifford Chance Badea, being the only fully-integrated Magic Circle firm in Romania. The Bucharest office has 3 partners (Daniel Badea, Managing Partner, Nadia Badea and Perry Zizzi) supported by an international team of 45 fee earners. Clifford Chance Badea is frequently involved in complex transactions such as syndicated loans, project finance, restructurings, Eurobonds and shares issues on international capital markets, derivatives, companies′ acquisitions by strategic investors or private equity funds, infrastructure and motorway projects, real estate investments, etc., as well as domestic and international litigation and arbitration.
Clifford Chance Badea ranks first among law firms in Romania under the section of Banking & Finance in the most recent editions of Legal500 and Chambers Global, and is a Tier 1 firm under Banking, Capital Markets and Project Finance practices according to the latest issue of IFLR1000 directory.