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Clifford Chance Badea has advised ROCKWOOL in the greenfield project for the construction of the first stone wool factory in Romania

Date: 07/27/2018
Clifford Chance Badea has advised ROCKWOOL Romania during negotiations with CON-A Sibiu of the construction contract for a factory in Ploiesti, an initial investment of 50-million Euro that will represent the Danish group's first stone wool factory of Romania.

The team of lawyers coordinated by counsel Vlad Peligrad has advised ROCKWOOL, part of world leading group in stone wool solutions, from the beginning of the project, working alongside the client in the due diligence process for the acquisition of a 30-hectars plot of land, during the negotiation and signing of the land acquisition contract, as well as the structuring, planning, and contract negotiation with the future builder.

"We are glad to be part of such an important project for both the local market of construction materials, and for the long-term strategy of a client we have been working with for a long time," Vlad Peligrad said. "This is a portfolio deal for our practice, since it is one of the very important greenfield investment projects we have advised on in recent years. It was a complex deal, involving many novelty aspects, across multiple areas of law, such as: real estate, environment, corporate, commercial contracts, FIDIC contracts, regulatory, etc.”, adds Vlad Peligrad.

The Real Estate practice coordinated by partner Nadia Badea mainly advices multinational companies, large investment funds and financial institutions in relation to Real Estate Acquisition, Real Estate Finance or Litigation projects. Given its complexity, the ROCKWOOL project involved a multidisciplinary team coordinated by Vlad Peligrad, with vast experience in Real Estate, Corporate and Litigation.

Milestone Real Estate projects recently advised by Clifford Chance Badea include:

• Advising CA Immo in relation to the acquisition of Campus 6.1 office building in Bucharest from Skanska, a deal valued at EUR 53 million (May 2018);
• Advising a leading construction company in Romania in relation to its challenge of the minutes issued following a control by ANAF, alleging fraudulent actions and potential tax evasions (2018).
• Advising sovereign fund China Investment Corporation on the acquisition of pan-European logistics operator Logicor from American fund Blackstone, a 12.25 billion Euro deal (June 2017);
• Advising CBRE Global Investors in relation to the sale of Felicia Shopping Center in Iasi to CPI Property Group, as part of a deal including assets in Romania, Poland, the Czech Republic, and Hungary (January 2017)
• Advising long term client New Europe Property Investments in its merger with Rockcastle, a deal that created the largest CEE retail real estate company, and one of the top in continental Europe (December 2016).

Clifford Chance has been present in Romania since 2006 and operates now as Clifford Chance Badea. The Bucharest office is fully integrated in the global network and is frequently involved in complex transactions such as syndicated loans, project finance, restructurings, Eurobonds and shares issues on international capital markets, derivatives, companies' acquisitions by strategic investors or private equity funds, infrastructure and motorway projects, real estate investments etc., as well as domestic and international litigation and arbitration.

In the most recent editions of Legal500, Chambers Global and IFLR1000, Clifford Chance Badea ranks first (Tier 1) among law firms in Romania under the section of Banking & Finance and Capital Markets. It also has a strong Corporate and M&A practice (Tier 2 in Legal 500 and Chambers Global) and Litigation & Dispute Resolution (Tier 2 in Chambers Global).

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