Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised BNP Paribas Leasing in the acquisition of shares in two Romanian companies from German-based group IKB that is exiting the local market.
The deal involved a mixed team of M&A and Banking & Finance lawyers coordinated by managing partner Daniel Badea and counsel Loredana Ralea. The team included Cosmin Anghel (counsel), Diana Crângașu (senior associate) and Diana Moroianu (associate).
The Bucharest office of the global law firm provided support to the French group from the beginning of the project, starting with the structuring and due diligence phase, and followed by advice on regulatory aspects, the negotiation process, and the signing of the deal documents.
"The deal reconfirms global investors' interest in the local financial market, which is currently in the middle of the consolidation process and has development potential. Any successfully closed high-profile project validates this potential and contributes to the market's maturing process overall," said Loredana Ralea.
Daniel Badea added: "This acquisition confirms a trend in this respect, and we are being instructed in a number of transactions for consolidation in the Banking and Financial sector."