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News from Members RTPR Allen & Overy advises Enterprise Investors on completing the sale of Macon

RTPR Allen & Overy advises Enterprise Investors on completing the sale of Macon

by RTPR Allen & Overy May 2, 2018


RTPR Allen & Overy has advised private equity firm Enterprise Investors on the completion of the sale of Macon group, one of the largest manufacturers of construction materials in Romania to Xella Group. The transaction was closed yesterday, while the sale purchase agreement was signed in December 2017.

The RTPR Allen & Overy team of lawyers involved in this project was coordinated by Costin Taracila (Managing Partner) with significant support from Andrei Mihul (Managing Associate) and further included lawyers from the Bucharest and London offices. A team of M&A advisors from PwC Romania coordinated by Radu Stoicoviciu, Cornelia Bumbacea and Dragos Atanasiu also assisted Enterprise Investors on the deal.

“It was a real pleasure to work with RTPR Allen & Overy team not only on this project, but also in all the other stages of our collaboration started many years ago. During all these years and with each occasion I found in RTPR Allen & Overy team some excellent professionals, tremendously experienced, but also at least equally important, very special people with whom I grew a beautiful and sincere friendship. A team of lawyers which supported us in the most significant projects of Macon, the best team of lawyers in Romania.”, Marius Marin, Macon’s CEO declared.

“Enterprise Investors is one of RTPR Allen & Overy’s most important clients, we assisted Enterprise Investors in relation to several transactions in Romania including the sale of Profi, the largest deal ever completed by a private equity fund in Romania. We are honoured to have successfully closed this transaction and we would like to thank Dariusz Pronczuk and Serban Roman (Enterprise Investors) for putting their trust in us once again, as well as the entire Macon team which has been coordinated by Marius Marin, CEO, for over 11 years. This is a new success for our corporate/M&A team, as we have recently announced the closing of A&D Pharma sale, another significant transaction for the Romanian market. We are proud of our fantastic M&A team which is constantly involved in the largest and most innovative projects on the market.”, Costin Taracila declared.

It was a complex, but equally beautiful and intense project, which I had the chance to coordinate during the entire sale process to the closing. We would like to thank Enterprise Investors and Macon for the excellent collaboration on this mandate that we successfully closed together and we are looking forward to new challenges.”, Andrei Mihul declared.

In Romania RTPR Allen & Overy assisted Enterprise Investors in relation to several transactions 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, the acquisition of Macon and Simcor or the acquisition and subsequent sale of Artima.

This year’s edition of Legal 500 which was recently published ranks RTPR Allen & Overy’s corporate/M&A practice in the first tier, and quoted sources declared: “RTPR Allen & Overy’s team is ‘prompt, dedicated and gives excellent solutions’.” We are recognised on the top tier by the other two elite international legal directories as well – Chambers and IFLR1000, and the firm’s lawyers are valued among the best in the country in the field.

Selected M&A transactions in which RTPR Allen & Overy have been recently involved are set out below:
• the shareholders of A&D Pharma, the largest pharma group in Romania, operating wholesale, retail and marketing & sales business and with operations in CEE as well, on the sale of the entire group to Dr Max, the Czech pharmacy chain owned by Penta Investments
• 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
• 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
• 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
• Enterprise Investors in relation to the acquisition of “Noriel” group, the largest toys and games retailer in Romania
• Regina Maria, the healthcare services provider and Mid Europa Partners on the acquisition of Ponderas Hospital

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 43 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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