The Diplomat Bucharest - Legal Awards

Rewarding the best in local law

Business leaders gathered to award the best deals, negotiators and teams in the Romanian legal industry

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     Deals are increasing in size. Competition is toughening up. Romanian businesses are moving abroad. The nation may be stuck in political quicksand, but this is not dragging the economy into the mud.
     Taking advantage of the sophisticated business environment are commercial law firms. Never before has Romania witnessed such a fierce squadron of legal eagles.
     Assesing the market, The Diplomat - Bucharest has rewarded the best deals and negotiations and the smartest legal teams from last year.
     Winners received the awards at a ceremony in the JW Marriott Bucharest Grand Hotel, which took place with the support of gold partners Avrig 35 and Lexus and silver partners Nespresso and Kyros Interiors.
     Also present to celebrate the best in commercial law was Minister of Justice Tudor Chiuariu. “We have to look past our egos and recognise the merits of the best of us,” said the Minister. “I congratulate all those who entered this competition and I hope we meet again year after year in larger numbers.”
     To select the winners, this magazine carried out a survey among the most reputable law firms in the business, who were asked to send information about the major areas of practice and the most significant deals carried out during 2006 and 2007.
     The Diplomat - Bucharest then assembled 11 leading business figures with a wide knowledge of the Romanian business environment to send in their nomination for three projects from each of the six business practice categories. The winner was awarded the majority of votes. Best law practice teams and Law Firm of the Year awards were based on the sum of nominations in all categories and detailed market research carried out by The Diplomat - Bucharest.

Members of the jury

Adrian Baicusi, general manager, Siemens Romania; Guy Burrow, general manager, Central European Consulting; Anca Ioan, CEO, Tiriac Holding; Vasile Iuga, senior partner, PricewaterhouseCoopers Romania; Cornel Marian, investment manager, Oresa Ventures; George Mucibabici, general manager, Deloitte Romania; Roberto Musneci, senior partner, Serban & Musneci Consulting; Misu Negritoiu, president, ING Bank Romania; Lucian Perl, investment director, Enterprise Investors; Florin Pogonaru, president, Romanian Businessmen Association (AOAR); Emma Popa Radu, partner, Advent International

Law firm of the Year 2006

Tuca Zbarcea si Asociatii

Tuca Zbarcea si Asociatii is a law firm that has shown an impressive development and, in just two years from its establishment, has become one of Romania’s most reputable law firms. The team of lawyers lead by Florentin Tuca and Gabriel Zbarcea as managing partners worked on some of the most complex legal projects in the last year, assisting major clients in business and government.

Deal of the Year 2006

Salans for the A&D Pharma listing on the main market of London’s Stock Exchang

The pioneering project of listing A&D Pharma on London’s Stock Exchange received a recognition as the best deal in 2006. As the first Romanian company to be listed on a foreign Stock Exchange, A&D Pharma reached a market capitalisation of 428 million Euro.

Best Deal - Real Estate and Construction

Acquisition of Polus Center

For the acquisition of Polus Center Cluj, the largest real estate deal in the retail sector in 2006 and valued at 210 million Euro.

Lawyers: Popovici si Asociatii for the purchaser, Immoeast

Finalists:
Trination/Baneasa Developments
Trination/Baneasa Developments commercial development of Baneasa project, the largest mixed -use real estate project in Romania and central and eastern Europe (224 hectares), estimated to be worth over two billion Euro. Lawyers: Salans
Charles de Gaulle Plaza transaction
The acquisition of Charles de Gaulle office building by GLL/Accession Fund
Sellers Avrig 35 and CA Immo with equal shares. The value of the transaction was approximately 80 million Euro. Lawyers: Tuca Zbarcea Associatii for CA IMMO; David & Baias for Avrig 35; Badea & Asociatii in association with Clifford Chance for GLL/Accession Fund

Best Deal - Banking &Finance

European Investment Bank loan to Metrorex

For the European Investment Bank (EIB) loan facility granted to Metrorex. Value of the loan: 370 million Euro.

Lawyers: Musat si Asociatii.

Finalists:
230 million Euro real estate financing project in Baneasa
Financing from five major banks in relation to one of the largest real estate development ever made in Romania in the Baneasa area, consisting of a shopping mall, IKEA store and an office building. Total value of the deal: exceeding 230 million Euro
Lawyers: Gide Loyrette Nouel - legal advisor to the bank syndicate and Salans for the Borrower.
Citigroup syndicated loan of 100 million Euro to A&D Pharma group
Citigroup International Plc (Facility Agent), Citibank N.A., London (Arranger) and Citibank Romania S.A. (Security Agent) syndicated loan granted by 11 Romanian and foreign banks syndicate to the companies from A&D Pharma group.
Lawyers: Radu Taracila Padurari Retevoescu

Best Deal - Energy

Enel acquisition of Electrica Muntenia Sud

For the assistance to Enel in connection with the 820 million Euro acquisition of Electrica Muntenia Sud.

Lawyers: Musat si Asociatii

Finalists:
Rompetrol acquisition of Dyneff
Rompetrol acquisition of 100 per cent equity stake in Dyneff group, the largest independent petroleum distributor in France.
Lawyers: Salans acting for Rompetrol
OMV Group/Petrom - Sale/purchase of maritime
drilling platforms
Transaction of several maritime drilling platforms and on-shore real estate and industrial equipment. Value of the project 100 million Euro.
Lawyers: Tuca Zbarcea si Asociatii

Best Deal - Mergers &Acquisitions/Corporate

Enel acquisition of Electrica Muntenia Sud

For the assistance to Enel in connection with the 820 million Euro acquisition of power distribution company based in Bucharest, Electrica Muntenia Sud

Lawyers: Musat si Asociatii

Finalists:
Rompetrol aquisition of Dyneff
Rompetrol acquisition of 100 per cent equity stake in Dyneff group, the largest independent petroleum distributor in France.
Lawyers: Salans acting for Rompetrol.
GE Money acquisition of Domenia Credit, Leasemart Holdings BV and Ralfi SA
GE Money bought these three companies from RAEF, the European Bank for Reconstruction and Development and DEG in a transaction worth 140 million Euro
Lawyers: Popovici si Asociatii representing GE Money.

Best project Litigation/Arbitration

Competition Council fine against Carpatcement

Lafarge and Holcim for allegedly participating in a price fixing cartel.
Carpatcement challenged the fine of RON 32 million until the Supreme Court of Justice cancelled this.

Lawyers: David & Baias

Finalists:
Orange against ANRC
National Regulatory Agency for Telecommunications fine to Orange for non-compliance with the cost legal matrix applicable to its interconnection tariffs.
Value of the litigation: eight million Euro.
Lawyers: Popovici si Asociatii representing Orange

Erste Bank / BCR before the Constitutional Court
Proceedings before the Romanian Constitutional Court in regard to an unconstitutionality complaint against the law approving the Government decision on the finalisation of the privatisation of BCR. The successful outcome of this case was a compulsory condition for the finalisation of BCR’s privatisation. Lawyers: Tuca Zbarcea si Asociatii

Best Deal - Capital Markets

A&D Pharma listing on the main market of London’s Stock Exchange

The pioneering project of listing A&D Pharma on London’s Stock Exchange.

Lawyers: Salans

Finalists:
BCR bond issue
BNP Paribas and ABN Amro financing of the 500 million Euro corporate bond issue by BCR.
Lawyers: Badea & Asociatii in association with Clifford Chance – for BNP Paribas and ABN Amro

Mandatory public offer Zentiva / Sicomed
The mandatory public offer on the Bucharest Stock Exchange, following the acquisition of Sicomed Bucuresti, one of the largest Romanian drugs producers. Value of the acquisition transaction: 200 million USD.
Lawyers: Tuca Zbarcea si Asociatii on behalf of Zentiva.