KPMG in Romania and Moldova, together with KPMG Legal – Toncescu & Associates, assisted the European Bank for Reconstruction and Development by providing vendor due diligence services in connection with the sale of Giurgiulesti International Free Port, the only maritime-river port operator in the Republic of Moldova, to the National Company Maritime Ports Administration, Romania’s port authority for the Port of Constanta – Romanian Ministry of Transport and Infrastructure.
The transaction follows a competitive international M&A process and represents an important development in the regional logistics and transport infrastructure sector. The Giurgiulesti International Free Port handles over 70% of Moldova’s imports and exports transported by inland waterway and plays a strategic role in regional trade flows along the Danube corridor, while also playing a significant role in the future reconstruction of Ukraine.
Our multidisciplinary teams at KPMG Legal – Toncescu & Associates and KPMG in Romania, Moldova and the UK provided financial, tax and legal vendor due diligence services for the European Bank for Reconstruction and Development, in connection with the sale of its full stake in ICS Danube Logistics.
The project was coordinated by Mirela Călota, Director and Transport Infrastructure Deals Lead at KPMG in the UK, the financial vendor due diligence component being coordinated by Elena Surdeanu, Associate Partner, and the tax vendor due diligence component being coordinated by Daniel Pană, Tax Partner, Monica Iordache, Tax Associate Director, Corina Şișcovschi, Advisory Manager at KPMG in Romania and Cristina Reabenki, Tax Associate Manager at KPMG in Moldova.
The legal assistance was coordinated by Laura Toncescu, Partner, Head of KPMG Legal – Toncescu & Associates, and Dragoș Iamandoiu, Partner & Head of Corporate & M&A, KPMG Legal – Toncescu & Associates, together with Florentin Timoianu, Defense Counsel, together with ACI Partners from the Republic of Moldova, coordinated by Igor Odobescu, Partner, and Carolina Parcalab, Legal Manager.
“We would like to thank the entire KPMG team for their support of the European Bank for Reconstruction and Development in the sale of the Giurgiulesti International Free Port and for their commitment to delivering full vendor due diligence reports to market participants in this landmark transaction for the region.” – Norberto del Barrio, Principal at the EBRD headquarters in London.
“This transaction marks an important moment for regional development and we are honoured to have assisted the European Bank for Reconstruction and Development by providing vendor due diligence services. At the same time, it represented an excellent opportunity to demonstrate the efficiency and added value of an integrated cross-border team, which collaborated seamlessly between the Republic of Moldova and Romania.” – Laura Toncescu, Head of KPMG Legal – Toncescu & Associates.
“We are glad to have had the opportunity to support this landmark strategic transaction in the maritime sector in Central and Eastern Europe, by providing financial, legal and tax vendor due diligence services, offered by our multidisciplinary and cross-border teams within KPMG. We would like to thank the European Bank for Reconstruction and Development for the trust placed in our teams and for their effective collaboration.” — Mirela Călota, Director, Transport Infrastructure Deals Lead at KPMG in the UK.