Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised BNP Paribas Leasing in the acquisition of shares in two Romanian companies from German-based group IKB that is exiting the local market.
The deal involved a mixed team of M&A and Banking & Finance lawyers coordinated by managing partner Daniel Badea and counsel Loredana Ralea. The team included Cosmin Anghel (counsel), Diana Crângașu (senior associate) and Diana Moroianu (associate).
The Bucharest office of the global law firm provided support to the French group from the beginning of the project, starting with the structuring and due diligence phase, and followed by advice on regulatory aspects, the negotiation process, and the signing of the deal documents.
"The deal reconfirms global investors' interest in the local financial market, which is currently in the middle of the consolidation process and has development potential. Any successfully closed high-profile project validates this potential and contributes to the market's maturing process overall," said Loredana Ralea.
Daniel Badea added: "This acquisition confirms a trend in this respect, and we are being instructed in a number of transactions for consolidation in the Banking and Financial sector."
Milestone M&A 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 Czech Media Invest (CMI), a leading media group, on the acquisition of the regional radio assets of multinational media conglomerate Lagardère Group, a regional transaction valued at EUR 73 million (April 2018);
• Advising J.C. Flowers & Co. in relation to the acquisition of Piraeus Bank Romania by funds advised by J.C. Flowers & Co., a deal marking the American investor's entry on the local market (December 2017);
• Advising the independent European private equity firm Vitruvian Partners in relation to its acquisition of a 30% stake in BitDefender, a leading global cyber security technology company (December 2017);
• Advising EBRD in relation to it acquiring an equity stake in Black Sea Oil & Gas, an independent oil and gas company based in Romania (November 2017), and also in relation to its becoming a shareholder in Agricover Holding, following an investment of RON 32 million (EUR 7 million equivalent) in the company’s capital for a subscription to a 13% stake (October 2017);
• Advising sovereign fund China Investment Corporation on the acquisition of pan-European logistics operator Logicor from American fund Blackstone (June 2017);
• Romanian law advisory to Citigroup and Deutsche Bank (as Joint Global Coordinators), and BT Capital Partners S.A., BRD - Groupe Societe Generale S.A., Societe Generale S.A., Raiffeisen Bank S.A. and Wood & Company Financial Services (as bookrunners) in relation to the Digi Communications N.V. public offering and admission of shares to trading on the Regulated Spot Market of BSE (May 2017).
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).
For further details about Clifford Chance, please access
www.cliffordchance.com.
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