RTPR ALLEN & OVERY (RADU TARACILA PADURARI RETEVOESCU SCA IN ASSOCIATION WITH ALLEN & OVERY LLP)

Address: Charles de Gaulle Plaza, 5th Floor, 15 Charles de Gaulle Square, 011857 Bucharest 1
Tel: 00 40 31 405 7777
Fax: 00 40 31 405 7778
E-mail: [email protected]
Web: www.allenovery.com/rtpr
Most senior representative: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea, Professor Lucian Mihai
No. of local partners: 5
No. of lawyers: 38
Offices in Romania: Bucharest

Partners and heads of practice

COSTIN TARACILA, Managing Partner

Costin Taracila is the Managing Partner with RTPR Allen & Overy. Costin has experience in advising international companies on capital markets, mergers and acquisitions, privatisations, corporate and commercial law. Costin was involved as a key member of the legal team in several major privatisation transactions in Romania, including: (i) Electrica Muntenia Sud; (ii) BCR; (iii) Romania's national oil and gas company, Petrom S.A.  Recent transactions include: acquisitions of World Class Romania, Simartis Telecom, “Intercora” retail park, Centru Medical Unirea, Euroclinic Hospital, City Pharma, the Siveco and Romprest exits, the joint venture between Bunge and Prio.

MIHAI RISTICIi, Partner

Mihai Ristici is a Partner with RTPR Allen & Overy. Mihai focuses primarily on M&A and mainstream corporate matters, having advised on a number of significant transactions on the Romanian market such as the privatisation of BCR, the sale of Cargus by DHL and the establishment by the Romanian Ministry of Public Finance of a MTN Programme and issues of notes thereunder. Mihai is also currently advising Electrica in the largest Romanian IPO to date. Mihai has also significant experience in energy related matters and in finance matters - real estate, public sector and project finance.

VICTOR PADURARI, Partner

Victor Padurari is a partner with RTPR Allen & Overy. Victor is primarily involved in finance and projects, including secured lending, project finance, LBOs, real estate finance, PPPs, concessions, governmental public debt and municipal finance, as well as general corporate and commercial law, real estate and state aid. 

ALEXANDRU RETEVOESCU, Partner

Alexandru Retevoescu is a partner with RTPR Allen & Overy. Alexandru focuses primarily on banking and finance projects and has provided advice to national and international banks in connection with general corporate, real estate and leveraged finance transactions. He is also experienced at advising on debt restructuring matters and has prior experience of working on both formal insolvency and informal restructuring proceedings.

VALENTIN BEREA, Partner

Valentin Berea is a Partner of RTPR, in association with Allen &Overy LLP. Valentin specialises in competition, intellectual property and litigation. Valentin has successfully coordinated the defence of a pharmaceutical company in one of the largest anti-trust investigations in Romania to date, which resulted in the first substantial fine reduction granted by a Romanian court. He is also a certified intellectual property counsellor for trademarks and industrial designs and an assisting professor teaching Contract Law at the Bucharest Law University. Who is Who of Competition Lawyers has included Valentin for the last 3 years among the list of top 8 competition law specialists in Romania, a list that is prepared exclusively based on peers’ feedback.

PROFESSOR LUCIAN MIHAI, Of Counsel

Professor Lucian Mihai is an Of Counsel with RTPR Allen & Overy. He is also the chairman of the Bucharest Court of Commercial Arbitration. He specializes both in private and some fields of public law: litigation (including intellectual property, competition and fiscal cases), domestic and international arbitration, regulatory, human rights, constitutional justice, parliamentary proceedings. Dr. Lucian Mihai has 35 years of experience as professor at the University of Bucharest teaching Civil Law, Intellectual Property Law and International Arbitration. He is a former President of the Romanian Constitutional Court (the highest legal position in Romania), former Secretary General of the Chamber of Deputies, former chairman of the drafting committee of the Civil Code enacted in 2011, and member of the Venice Commission (2006-2014). The professor also acted as ad-hoc judge of the European Court of Human Rights. He has been the honorary legal adviser to the UK Ambassador at Bucharest since 1994.

ALINA STAVARU (PROTEASA), Counsel

Alina Stavaru (Proteasa) is a Counsel with RTPR Allen & Overy. She is primarily involved in mergers and acquisitions, particularly private equity, complex corporate and capital restructurings and joint ventures. Alina has recently advised Enterprise Investors, one of the largest firms managing private equity and venture capital funds in Poland and Central and Eastern Europe, on the exit from Siveco Romania (a leading software development business) in a leveraged MBO and DHL in relation to the sale of Cargus International (the Romanian domestic courier business) to Abris Capital Partners.

ANDREEA BURTOIU, Counsel

Andreea Burtoiu is a Counsel with RTPR Allen & Overy. Andreea has extensive experience in banking and finance (advising on various syndicated and bilateral finance transactions but also on derivatives and cash management tools), restructuring transactions, as well as capital markets. She advised on important transactions in Romania, such as the establishment by the Romanian Ministry of Public Finance of a MTN Programme and issues of notes thereunder. She recently coordinated the legal team advising one of the banks which financed the complex acquisition by Somaco Antrepriza (which is in its turn an investment of the Swedish investment fund Oresa Ventures) of the business of Europrefabricate (a company in insolvency).

COSMIN TILEA, Counsel

Cosmin Tilea is a Counsel with RTPR Allen & Overy. He has an extensive experience in cross-border financings (especially in project finance transactions), municipal loans and public debt, procurement and energy matters. Cosmin has recently advised (i) EBRD, Erste Bank, BCR and EKF in the first export credit agency covered renewable project financing in Romania, having a value of EUR 125 million, extended to STEAG GmbH for the construction of a 108 MW wind farm; and (ii) EBRD, IFC, BSTDB and other commercial banks in relation to several financings with a total value of EUR 268 million (which include the first renewable project financing in Romania) granted to EDP Renovaveis, the third largest renewable energy producer in the world, to finance the construction of several Romanian wind and solar power plants having a total installed capacity of 335 MW.

LOREDANA BOERU, Counsel

Loredana Boeru is a Counsel with RTPR Allen & Overy. She has a vast experience in debt and equity capital markets transactions, having also advised on diversified regulatory matters (eg management of funds and MiFID). Loredana has been involved in two significant transfers of loans portfolios and has worked in an important number of sophisticated finance transactions. Loredana is advised Electrica in the largest Romanian IPO to date and has recently advised JP Morgan on a EUR 450 million Senior Secured Notes corporate bond issuance guaranteed by RCS & RDS, as well as EBRD in an approx. EUR 18.8 ABB.

ADRIAN CAZAN, Senior Associate

Adrian Cazan is a Senior Associate with RTPR Allen & Overy. Adrian has extensive experience in all aspects of real estate and M&A transactions, with a focus on renewable energy projects and public procurement. His practice areas also include general commercial and contract law, construction law, energy law and projects. Adrian’s recent expertise includes advising Resource Partners on the acquisition of 71% in World Class Romania S.A and the further complete buyout of minority shareholders in World Class Romania, Bucharest Stock Exchange in relation to the contractual and regulatory requirements for the appointment of its CEO.

ANCA RUSU, Senior Associate

Anca Rusu is a Senior Associate with RTPR Allen & Overy. Anca is a specialist in energy, corporate / M&A, and insolvency. Anca’s experience includes advising Eni on the sale of its downstream assets in the CEE region to MOL, Unicredit Bank Austria AG and Intesa Sanpaolo Bank Ireland plc in connection with the EUR 85 million financing extended to a Romanian subsidiary of Samsung C&T Corporation for the development of a 45 MW photovoltaic park located in the County of Giurgiu (one of the largest photovoltaic projects in Romania to date).

ROXANA IONESCU, Senior Associate

Roxana Ionescu is a Senior Associate with RTPR Allen & Overy. Roxana has extensive experience in providing assistance and representation in merger clearance proceedings, investigations undergone by the Romanian Competition Council or complaints formulated by our clients to the Romanian Competition Council. Roxana also has experience in assisting clients in the preparation of compliance programs and in providing day-by-day competition advice. Roxana has advised Profi Rom Food and a leading pension funds management company in two successful antitrust litigations, MOL Romania Petroleum Products during a cartel investigation and is currently advising MOL during the litigation against the decision of the Competition Council.

VALENTIN HIRIT, Senior Associate

Valentin Hirit is a Senior Associate with RTPR Allen & Overy. Valentin has experience in litigation matters as well as in advising on mergers and acquisitions, corporate and competition legislation in Romania. He was a member of the team that advised: film producers in relation to claims related to online piracy; one of the largest telecommunication operators in Romania in a dispute concerning a large number of its internet domains; Muntenia, Midtown and GDF Suez in relation to various claims of ownership over plots of land. He also advised Advent International on the Centrul Medical Unirea and Euroclinic Hospital acquisitions, Enterprise Investors on the sale of Artima and A&D Pharma on the acquisition of City Pharma pharmacies.

VICTOR RUSU, Senior Associate

Victor Rusu is a Senior Associate with RTPR Allen & Overy. Victor has experience in advising international and local companies with regard to commercial transactions, merger & acquisitions, corporate law, and transactions involving telecommunications. He was a member of the team that advised First Retail International (FRI) on the InterCora Romanian retail park portfolio acquisition, Centrul Medical Unirea (CMU), on the Euroclinic Medical Centers and Euroclinic Hospital acquisitions.

List of the most representative projects

Corporate and M&A

Advised an investment fund on the acquisition by a Luxembourg-based investment vehicle of a 23% shareholding stake in a Romanian company operating in the mobile marketing business.

Assisted a Romanian company and its shareholder in relation to the exit of the Group by sale of its shareholding stake to Europrest Invest and Premium Management Team.

Represented the oldest and one of the largest firms managing private equity and venture capital funds in Poland and Central and Eastern Europe, in relation to the exit from one of the leading Romanian software companies, with presence in CEE, Middle East and Africa and projects spread in 27 countries in an MBO leveraged transaction.

Represented one of the the largest courier and freight companies in relation to the sale of a leading Romanian domestic courier business to Abris Capital Partners.

Specialist lawyers: Costin Taracila, Mihai Ristici, Alina Stavaru, Adrian Cazan, Victor Rusu;



Banking

Assisted a leading investment bank on the largest corporate bond issuance to date of a Romanian corporate - EUR450m Senior Secured Notes issued by Cable Communications Systems N.V. (CCS) and guaranteed by one of the largest telecom companies and a leading provider of pay TV services in core markets Romania and Hungary.

Assisted a leading European investment bank on a historical EUR 86.6 million block trade, representing the sale of its 1.6 per cent equity stake in OMV Petrom, executed in the form of an ABB and private placement on the POF section of the Bucharest Stock Exchange. The transaction was brokered by Wood&Co and Raiffeisen Capital & Investment.

The Romanian Ministry of Public Finance on the fifth issue of Euro 1.5 billion 4.625 per cent. Notes due 2020 under the Euro 8 billion Global Medium Term Note Programme (the Programme).

Represented the global leader in automotive gas springs and other related products, in connection with an EUR25m syndicated facility agreement and the issuance of an EUR315m senior secured notes and the security package in connection thereto as well with respect to the related inter-creditor arrangements.

Assisted a leading manufacturer of rolling element bearings for automotive, aerospace and industrial uses, on the issue of further high yield bonds of a total volume of approximately EUR 1.25 billion.

Specialist lawyers: Victor Padurari, Alexandru Retevoescu, Costin Taracila, Alexandra Ovedenie, Andreea Burtoiu, Cosmin Tilea, Loredana Boeru;



Energy and Natural Resources

Advised two major European banks in connection with the EUR85m secured financing extended to a Romanian subsidiary of a leading Korean company for the development of a 45 MW photovoltaic park located in the County of Giurgiu (one of the largest photovoltaic projects in Romania to date).

Assisted a Slovak investor in connection with several financings amounting to EUR 13.15 million, extended to Romanian companies controlled by Slovak investors, to finance the construction and operation of photovoltaic plants located Bihor, Timis and Dambovita.

Specialist lawyers: Victor Padurari, Mihai Ristici, Anca Rusu, Cosmin Tilea;



Competition

Assisted an FMCG company in the antitrust litigation against the decision of the Competition Council to fine the company for a vertical price fixing agreement. The High Court of Cassation and Justice has irrevocably reduced the fine by 75%. Given the gravity of the infringement set by the decision of the Competition Council, the ruling was deemed to be an important success.

Assisted a Japanese multinational electronics corporation in a complex antitrust investigation carried out by the Competition Council against the members of collective organizations for WEEE management, proceedings ended up with a fine imposed on the company of less than EUR 50,000. The decision was further challenged in court.

Advised a leading pension funds management company in the litigation file initiated by the client against the decision of the Competition Council sanctioning 14 companies for an alleged allocation of customers in 2007. The decision of the Bucharest Court of Appeal was favourable to the client, the fine being fully annulled. The Competition Council has appealed the court decision and the file is currently pending in front of the High Court of Cassation and Justice.

Specialist lawyers: Mihai Ristici, Roxana Ionescu;



Real Estate

Regus on the negotiation of the lease agreement for the new location in Charles de Gaulle Plaza building.

Advised a specialist retail property company with a focus on retail warehouse properties in Europe, in relation to the real estate aspects in connection with the acquisition of a 50% interest in the Romanian retail park portfolio ‘InterCora’.

Advised a leading Austrian Bank in relation to the financing package entailed by immovable mortgage over the plots of land used for the farmland project and review and advice on the real estate aspects related to such immovable mortgage over the plots of land.

Assisted a syndicate of international financial institutions regarding amendments to the security agreements and to a syndicated loan for the acquisition of a major residential and commercial component of the project as well as for the refinancing of the development loan.

Assisted a consortium of banks on the real estate aspects in relation to the EUR85m secured financing extended to a Romanian subsidiary of a Korean based multinational company for the development of a 45 MW photovoltaic park located in the County of Giurgiu (one of the largest photovoltaic projects in Romania to date).

Specialist lawyer: Adrian Cazan;



Litigation and Dispute Resolution

Represented a leading FMCG company in the antitrust litigation against the decision of the Competition Council to fine the company for a vertical price fixing agreement. The High Court of Cassation and Justice has irrevocably reduced the fine by 75%. Given the gravity of the infringement set by the decision of the Competition Council, the ruling was deemed to be an important success.

Assisted one of the largest tobacco companies worldwide in arbitration proceedings initiated against a business partner before the Court of International Commercial Arbitration attached to the Romanian Chamber of Commerce and Industry. Our litigation team successfully represented the client before the High Court of Cassation and Justice by preparing the defence against the higher appeal application filed by the other company in respect of the arbitral ruling. The case file irrevocably solved in favour of our client regarded a commercial dispute related to a lease agreement.

Assisted a leading pension funds management company in the litigation file initiated by the client against the decision of the Competition Council sanctioning 14 companies for an alleged allocation of customers in 2007. The decision of the Bucharest Court of Appeal was favourable to the client, the fine being fully annulled. The Competition Council has appealed the court decision and the file is currently pending in front of the High Court of Cassation and Justice.

Assisted a renowned Greek bank with respect to the insolvency proceedings carried out against a multinational company. The client recovered more than two-thirds of the accepted receivable.

We provided legal assistance and representation in front of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of Romania to a leading chain of pharmacies which was sued as defendant in a dispute regarding the cancellation of an assignment agreement having as object certain trademarks registered with the Romanian State Office for Inventions and Trademarks. The arbitral tribunal ruled in favour of our client and dismissed the application lodged by the former trading partner of the company.

Specialist lawyers: Professor Lucian Mihai, Valentin Hiriţ, Adriana Dobre;



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