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News from Members RTPR Allen & Overy advises Enterprise Investors on a new exit

RTPR Allen & Overy advises Enterprise Investors on a new exit

by RTPR Allen & Overy December 21, 2017

BUCHAREST – RTPR Allen & Overy has advised private equity firm Enterprise Investors on the sale of Macon group to Xella Group. The transaction is subject to approval by the Competition Council.
Macon is one of the largest manufacturers of construction materials in Romania, with approximately 800 employees in the four production sites in the country.

The RTPR Allen & Overy team of lawyers involved in this project was coordinated by Costin Tărăcilă (Managing Partner) with significant support from Andrei Mihul (Managing Associate) and further included lawyers from the Bucharest and London offices.
Serban Roman, vice president at Enterprise Investors declared: “We are very satisfied with our cooperation with RTPR Allen & Overy that has been assisting us for the past 12 years in most of Enterprise Investors’ transactions in Romania. The extended M&A expertise of the firm’s lawyers, combined with their creativity and availability, convinced us to be partners throughout our investment in Macon, from acquisition to exit. We thank all those who were involved in this complex process and I am convinced we will have an equally close cooperation in the future.”

“We are happy and proud to announce this new transaction. Enterprise Investors are one of our oldest and closest clients and we worked together on many landmark deals. We worked close to Enterprise Investors along its investment in Macon: we assisted them on the acquisition of Macon in 2006, later on, in 2008, on the acquisition of Simcor Group, and now we advised them on the sale of Macon. We are honoured by the trust Enterprise Investors showed us every time and we would like to have the chance to advise them on their future projects.”, Costin Taracila declared.

“It was an extremely complex deal which involved hard work over a long period of time. We would like to thank both Enterprise Investors and the management team for their support along this process. This is the second deal in just a few months in which we assisted the seller in relation to the sale of a company active on the construction materials market to a well-known European strategic investor, and this shows the growing interest for this sector in Romania and the trust shown by strategic investors in the positive evolution of Romanian economy which is so important for this sector.”, Andrei Mihul declared.

Enterprise Investors is one of RTPR Allen & Overy’s most important clients, RTPR Allen & Overy assisted Enterprise Investors in relation to several transactions in Romania such as the sale of Profi supermarket chain to Mid Europa Partners, the largest deal ever completed by a private equity fund in Romania and the largest deal in the retail sector in the country’s history, the acquisition of Noriel group, the exits from Smartree Romania and Siveco Romania or the acquisition and subsequent sale of Artima.
RTPR Allen & Overy is proud of the value of its M&A practice, one of the most prominent practices in Romania, recognised at international level as a top tier firm by the prestigious international legal guides Legal 500 and IFLR1000.

RTPR Allen & Overy’s main areas of activity are: financing, mergers and acquisitions, capital markets, insolvency and restructuring, competition, labour law, intellectual property law, litigation and arbitration, and providing advice across a range of business sectors including energy, telecommunications, finance, real estate and the pharmaceutical industry.

Selected M&A transactions in which RTPR Allen & Overy have been recently involved are set out below:

• Enterprise Investors in relation to the sale of Profi supermarket chain to Mid Europa Partners, in the largest deal ever completed by a private equity fund in Romania and the largest deal in the retail sector in the country’s history
• Enterprise Investors in relation to the acquisition of “Noriel” group, the largest toys and games retailer in Romania
• Societatea Energetică Electrica S.A. on the acquisition of the minority stakes held by Fondul Proprietatea in the company’s energy distribution and supply subsidiaries
• ADM Capital on the sale of Brikston Construction Solutions S.A., one of the major players on the masonry and finishing materials market in Romania, to the Austrian group Wienerberger
• DS Smith Plc group in relation to the acquisition of EcoPack and EcoPaper, two major producers of packaging and paper products on the Romanian market
• Asahi Group Holdings, Ltd. on the acquisition of Ursus Brewery, one of the largest beer producers in Romania, in a huge deal in which Asahi group purchased the SAB Miller businesses in the region from Anheuser-Busch InBev SA/NV
• Allianz Capital Partners on the acquisition of a 30% stake in E.ON Distributie Romania, the largest electricity and gas distribution network operator in the northern part of Romania. This is the largest transaction in Romania in the energy sector in the last years.
• South Eastern European Fund on the sale of Total Soft SA, the most important ERP producer in Central Europe
• Regina Maria, the healthcare services provider and Mid Europa Partners on the acquisition of Ponderas Hospital
• PAI partners, owner of R&R Ice Cream on its joint venture with Nestlé to form a new entity which will be called Froneri

Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,400 staff, including some 554 partners, working in 44 major cities worldwide.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 45 lawyers, including 5 partners: Costin Tărăcilă, Victor Pădurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea and also Prof Dr Lucian Mihai, Of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Tărăcilă Pădurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Tărăcilă Pădurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.

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