Marubeni Corporation and ELCEN have agreed to form a JV to build a 250 MW gas-fired electricity plant in the central Romanian county of Mures worth roughly 170 million euro, they announced in a statement released. Romanian law firm Tuca Zbarcea & Asociatii has advised Marubeni Corporation, one of the largest and most profitable of Japan's unique and powerful “sogo shosha”, according to this statement. The legal team was led by Sorin Vladescu, Partner with the firm. The Japanese company will control 90 percent of the newly formed company, SC Fantanele Gas Power SA, and it will bring an in-kind contribution of 30 percent to the share capital of the NewCo, with the rest stemming from loans. ...more »

The Austrian Do It Yourself chain bauMax has reached an agreement for selling its domestic chain comprising 15 stores to French-based Adeo Group, the sale, whose price has not been disclosed, being concluded through a “share deal” transaction, pending competition approval. Popovici Nitu & Asociatii has assisted the French party in this transaction, while Noerr acted as legal advisor of bauMax. The stores, subject of this transaction, are located in Bucharest (2), Bacau, Brasov, Constanta, Craiova, Cluj Napoca (2), Iasi, Pitesti, Ploiesti, Sibiu, Suceava, Targu-Mures and Timisoara....more »