RTPR Allen & Overy has advised Elefant Online and its shareholders, Millennium Gold Resources and the Catalyst Romania private equity fund, on the investment into Elefant Online by the Emerging Europe Accession Fund advised by Axxess Capital and a supplementary investment from its minority shareholder Catalyst Romania. Tuca Zbarcea & Asociatii and sole practitioner Gabriela Assoum Predescu advised Axxess Capital on the transaction, which remains contingent on the approval of the Romanian Competition Council.
Elefant Online is a well-known online retailer in Romania.
The RTPR Allen & Overy team consisted of Counsel Alina Stavaru, Associate Laurentiu Tisescu, and Junior Associate Evelin Grigore on the transaction itself, with Counsel Roxana Ionescu, Associate Andrei Mihul, and Junior Associate Andrei Lupu advising on competition clearance matters. Alina Stavaru declared: “We are happy to have once again advised our clients on this transaction and we would like to thank them for their trust. At the end of 2014 we assisted Catalyst Romania in relation to their initial investment in Elefant, and now we had the chance to advise the shareholders and the company on this new investment. As previously stated, such a transaction represents the recognition of the success of a local business and we are looking forward to seeing its success at international level.”
Catalyst Romania has been active in Romania in the last two years, and RTPR Allen & Overy has previously advised it in relation to several investments in the IT and technology sector, such as Intelligent IT and Marketizator Friends (as reported by CEE Legal Matters on April 7, 2016), Vector Watch, 123ContactForm, and Green Horse Games.
The Tuca Zbarcea & Asociatii team was coordinated by Partner Dragos Apostol, supported by Associate Veronica Aman, and included Senior Associate Roxana Pana and Ciprian Sararu and Associate Gabriela Dinu.
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