Musat and Asociatii assists Sterling Resources in transfer of Muridava perimeter
Musat and Asociatii law office assisted Sterling Resources Ltd. Regarding the transfer of 40 per cent participation within EX-27 Muridava part of Black sea continental plateau and owned by its branch Midia Resources to Petroceltic Romania B.V., branch of Petroceltic Resources PLC, an Irish company listed at London Stock Exchange and Dublin Stock Exchange and speaclizing in oil and gas upstream segment.
2015-06-18 11:45:03
The transaction has been aproved by the National Agency for Mineral Resources (ANRM). In the same time, Petroceltic Romania B.V. purchased the participation of 30 per cent at EX-28 Est Cobalcescu previously owned by Beach Energy Ltd. Following the two transaction, Petroceltic Resources PLC sold the entire social capital of Petroceltic Romania B.V. to GVC Investment B.V.,, a company controlled by Romanian Gabriel Comanescu.
In March this year, Musat&Asociatii assisted Sterling Resources Ltd in sellling the full operations in Romania to Carlyle Group, following a deal worth 42.5 million USD.
The law office portfolio also includes legal consultancy for CRH regarding the acquisition of Lafarge assets in Romania, Electrica SA regarding the IPO- the largest capital market transaction worth 440 million Euro, Sterling Resources Ltd. regarding the 65 per cent shares transfer of Midia XV perimeter to ExxonMobil Exploration and Production Romania and OMV Petrom SA, Industrial Bank of Korea, regarding the financing of 5 photovoltaic parks in Romania, a consortium of Chinese companies regarding the development of power supply project in Romania.
Sustainable urban mobility: Around 2.3 billion Euro assigned through Regional Operational Program in Romania
Around 2.3 billion Euro budget is assigned during 2014-2020 exclusively for sustainable urban mobility projects, through the Regional Operational Program (POR) and managed by the Ministry of Regional Development and Public Administration (MDRAP)
The money will target projects in improvement of urban transportation, electric and engine-free transport, carbon emission, to be applied in different Romanian cities. The municipalities can purchase public transport vehicles, tram modernizing projects, e-ticketing, intermodal terminals, fuel stations for electric cars, reforestation of cities and addresses all city categories in the country.
The Ministry of Regional Development and Public Administration (MDRAP) delivers the financial support and is responsible also for creating the legislative framework. Through POR 2007-2013, urban mobility plans are financed for Bucharest and the seven countrywide urban growth poles: Craiova, Constanta, Timisoara, Ploiesti, Brasov and Iasi.