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Most important real estate transaction of the year 2012 in Romania

Date: 04/30/2013
This is the second consecutive year that the award has gone to Reff & Associates, which ranks among the most active law firms on the M&A market

Bucharest, Romania – April 30, 2013 – Reff & Associates, member of Deloitte Legal, has won the award for the most important real estate transaction of the year 2012 in Romania – for the acquisition by New Europe Property Investments plc. (NEPI) of the office complex Business City Center in Timisoara. The prize is shared with NNDKP, which acted as legal counsel for the sellers.

Under the transaction, which represents a record on the office market outside Bucharest, the fully owned subsidiaries of NEPI acquired from MTInv BV and Mr. Ovidiu ªandor the two companies owning three adjoining office buildings. The agreement also secured Nepi’s acquisition of Modatim Business Facility S.A. (MTBF), a company developing two additional office blocks, which is subject to completion and various other conditions precedent.

Reff & Associates assisted NEPI during the due diligence process with the preparation and negotiation of the sale of shares agreement and with related contractual documents.

The prize was awarded during the “Lawyers’ Gala Awards” organized by Ziarul Financiar on 23 April 2013. The event rewards law firms involved in the most important transactions closed last year.

Ziarul Financiar also awarded Reff & Associates for the largest real estate transaction in 2011, for the EUR 100 million acquisition of the office complex Floreasca Business Park by NEPI.

“We are honoured to receive this award which shows that our real estate lawyers are recognized as part of the local elite,” says Alexandru Reff, Coordinator of the legal team involved in the project and Partner Reff & Associates. “This performance in the real estate sector is not a singular success for our team, which enjoys similar recognition for assistance in matters of banking & finance and M & A. As a recent example, DealWatch ranking for M & A activity in 2012 places Reff & Associates among the top five law firms by number of deals assisted in Romania. Another ranking DealWatch/ CMS ranks the acquisition of Liberty Center mall by Rosequeens assisted by our teams of banking & finance and real estate, as the second largest transaction of 2012,” Reff further notes.

The 2013 Law Firms Yearbook edition put together by Ziarul Financiar lists some of the transactions in which the law firm was involved over the past year and some of Reff & Associates’ landmark deals.




Recent portfolio includes:

• Acquisition of Class A office complex Lakeview by NEPI; Reff & Associates provided buy-side assistance in a deal worth EUR 61.7 million;
• Structuring and implementation of the restructuring of a EUR 60 million syndicated loan financing of “Liberty Center” shopping center;
• Selling a hypermarket located in Pitesti Retail Park to Auchan group; Reff & Associates advised the seller (NEPI) in a transaction valued at EUR 28.7 million;
• Legal assistance to Trakya Investment B.V. in the acquisition of a majority stake of the Romanian company GlassCorp S.A.

Awards and nominations Reff &Associates:
Award for the most important real estate transaction of the year 2012 - Ziarul Financiar, Lawyers’ Gala Awards, 2013
Award for the most important real estate transaction of the year 2010 - Ziarul Financiar, Lawyers’ Gala Awards, 2011
Nomination for the most important banking transaction of the year 2010 - Ziarul Financiar, Lawyers’ Gala Awards, 2011
Award for the law firm of the year 2010 in real estate - Avocatnet, Avocatnet.ro Gala | 10 years, 2011
Award for the most important transaction of the year 2010 - Avocatnet, Avocatnet.ro Gala | 10 years, 2011
Award for the most important real estate transaction of the year 2009 - Ziarul Financiar, Lawyers’ Gala Awards, 2010
Award for the most important real estate transaction of the year 2009 - Finmedia, Top Lawyers’ Gala, 2010

About Reff & Associates

Reff & Associates is a Member of Deloitte Legal, a network of legal practices working with Deloitte all over the world integrated with the Deloitte multi-disciplinary advisory practice. The professionals working with Reff & Associates have significant experience in high level transactions, in which complex matters are addressed from cross-border and multi-disciplinary perspective. The multi-disciplinary experience of legal professionals allows them to provide, together with other Deloitte professionals, a complete answer to the needs of their clients. They propose state-of-the-art services relying not only on legal and regulatory expertise but also on the use of innovative processes. Their global and systematic approach allows clients to integrate early in their strategy potential legal issues, thus anticipating and preventing legal risks and minimizing the disruption of business operations.

International recognition:
The continuous and consistent involvement of Reff & Associates in landmark transactions over recent years has increased the firm’s visibility and market recognition and has prompted higher rankings in reputable international legal guides. The 2013 edition of Legal 500 Europe, Middle East & Africa ranks Reff & Associates alongside leading law firms, and particularly recommends its lawyers for their expertise in Banking & Finance, Capital Markets, Corporate and M&A and Real Estate work. As quoted in the said Legal 500 edition, the clients appreciate Reff & Associates as highly skilled and experienced, knowledgeable and professional, able to handle complex situations and having very good management skills.



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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/ro/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte's 200,000 professionals are committed to becoming the standard of excellence.


© 2013 Deloitte Romania




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