The team of lawyers was coordinated by Daniel Badea and Loredana Ralea
Clifford Chance Badea has advised First Bank, owned by US-based investment fund J.C. Flowers & Co., in relation to its acquisition of Bank Leumi Romania, one year after the first transaction of the high-profile American investor on the Romanian Banking industry.
The complex deal involved a mixed team of M&A and Banking & Finance lawyers coordinated by managing partner Daniel Badea and counsel Loredana Ralea. Mădălina Rachieru-Postolache (partner) and Radu Costin (senior associate) had important contributions throughout the process. The team also included, among others, senior associates Ecaterina Burlacu and Bogdan Creteanu, as well as lawyers Gabriela Muresan, Mihnea Niculescu and Maria Ciulica.
The Bucharest office of the global law firm provided support from the beginning of the project, starting with the due diligence phase, the structuring and the negotiation process, the drafting and signing of the deal documents.
"As the Banking industry is undergoing recalibration, the quality of M&A deals and investors is vital for the future consolidation of the industry overall. We are honoured to have once again provided support to J.C. Flowers & Co. and First Bank in relation to a significant acquisition for the Romanian Banking market. This transaction adds to a strong portfolio of representative deals for our M&A and Banking & Finance practices," Daniel Badea, Clifford Chance Badea Managing Partner, said.
Loredana Ralea, counsel with the M&A practice of Clifford Chance Badea, added: "Closing this deal in record time has been possible due to efficient organization, professionalism and transparent communication amid all parties involved. Our extensive experience in M&A advisory, as well as in-depth legal, compliance and regulatory expertise in Banking & Finance have greatly contributed to this project coming to life. Our long standing relationship with both First Bank and J.C. Flowers & Co. teams was an important element in achieving the signing of the transaction in a very short period of time."
The deal is to be finalized following the approval of the National Bank of Romania and of the Romanian Competition Council.
Milestone M&A projects recently advised by Clifford Chance Badea include:
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.
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