RTPR has assisted PragmaGO, a company owned by the private equity fund Enterprise Investors, in the acquisition of an 89% stake in Telecredit IFN, operating under the brand name Omnicredit (www.omnicredit.ro) from Reconstruction Capital II Limited (RC2) and Elisa Rusu. The transaction is subject to customary regulatory approvals and the fulfilment of the conditions precedent agreed by the parties.

PragmaGO is one of the largest non-banking financial institutions in Poland, a leader in embedded finance (BNPL and Merchant Cash Advance) segment in CEE, providing financing in the form of factoring and loans for SMEs. Omnicredit financing platform is also aimed at SMEs, offering digital factoring and credit products.

The RTPR team was coordinated by Alina Stavaru (Partner) and Ianita Tui (Counsel), with Andrei Nicolae (Junior Associate) closely assisting throughout the process. The team of lawyers further included Cezara Urzica (Senior Associate), Andrei Tosa, Cristina Croitoru (Managing Associates), Irina Marinescu, Bianca Cojocaru, Daria Spatariu, David Mirea and Luka Perovic (Junior Associates). Cosmin Tilea (Partner), Andreea Nedeloiu (Senior Associate) and Ambra Lazar (Junior Associate) advised on the finance matters of the deal. Roxana Ionescu (Partner) and Serban Halmagean (Associate) have advised on FDI aspects of the deal.

Vjačeslav Lypko, Head of International Expansion, PragmaGO declared: “I would like to express my gratitude to the RTPR team led by Alina Stavaru, who supported us with this complex transaction across the areas of negotiations and documentation, regulatory aspects, and financing. Alina and the team are highly professional, experienced and knowledgeable. I am very happy with the quality of work and team’s level of involvement in the project. Their contribution was highly important to progressing the deal. I would be glad to cooperate again in the future.”

“Our clients’ confidence in our abilities is a testament to our commitment to excellence. This project was a challenging but rewarding endeavour, allowing us to demonstrate our expertise and provide the most appropriate solutions to our client’s needs. Our proven track record in M&A and private equity transactions was instrumental for the success of this deal”, said Alina Stavaru, Partner of RTPR.

“I would like to congratulate PragmaGo on this deal that marks the entry into the Romanian market and to thank them for the excellent collaboration that contributed to the success of the transaction. We wish them every success in developing their business in Romania and look forward to future opportunities to collaborate”, said Ianita Tui, Counsel at RTPR.

RTPR has one of the most experienced teams of lawyers specialised in Corporate/M&A in Romania. The experience and quality of the firm’s services are recognised by the most relevant legal publications, the RTPR practice is included in the first tier in the Chambers, Legal 500 and IFLR1000 rankings, which are realised based on feedback collected from clients and competitors, as a result of a thorough research process. Several of the team’s lawyers are also recommended as Leading Lawyers or Rising Stars in individual rankings produced by these publications.

RTPR was named “Romania Law Firm of the Year” at the Chambers Europe Awards 2024, one of the most prestigious accolades in the legal area which confirms the firm’s status as a leader in the field.

Selected corporate/M&A deals in which RTPR have recently advised are set out below:

• MidEuropa Partners on the EUR1.3bn sale of Profi, in the largest transaction in the retail sector ever concluded in Romania
• the shareholders of 123FormBuilder, a cloud-based platform that allows customers to digitize and automate their data collection workflows through online forms and surveys – 212 Regional Fund II, Catalyst Romania, Florin Cornianu and Adrian Gheara – on the sale of the company to American group Kiteworks, which delivers data privacy and compliance for sensitive content communications through its Private Content Network (PCN)
• Evryo Group, owned by funds managed by Macquarie Asset Management, on the sale of its renewable energy portfolio to PPC Group
• Romcim, part of the CRH group, on the acquisition of Tehno World, a company active in the production and sale of solutions for utility infrastructure networks
• OX2 on the sale of a 99.2 MW onshore wind project located in the Eastern part of Romania to Nala Renewables, a joint venture between IFM Investors and Trafigura
• Innova Capital on the sale of Optical Investment Group to EssilorLuxottica
• Global Records and Stefan Lucian, the founder and CEO of the company, in the process of selling a 25% stake in the company to Believe, one of the world’s leading digital music companies and of setting up the terms of their strategic partnership
• Vectr Holdings, through its subsidiary Vectr Realty Holdings, on the indirect acquisition of 100% stake in the company that owns The Landmark office building
• Intesa Sanpaolo Bank, the largest Italian bank, on the acquisition of First Bank from the American private investment fund J.C. Flowers
• Morphosis Capital and a group of co-investors from Belgium on the acquisition of a majority stake in Mark Twain International School