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Further to the December 2023 amendments to the Romanian regime for screening inbound direct investments (that we previously covered here), which formally included EU investors within the scope of screening, the Romanian Parliament has adopted a new law (the “New Law”) to further strengthen the approach towards EU investors.

RTPR has advised Vectr Holdings on the indirect acquisition of the company that owns The Landmark office building in Bucharest from funds managed by Revetas Capital and affiliates of Cerberus Capital Management. Wolf Theiss advised Revetas Capital and Cerberus.

Last week was full of exciting news in relation to AI in Romania. First, the long-awaited AI Act was published in the EU’s Official Journal on 12 July, becoming Regulation (EU) 2024/1689. The AI Act is an essential part of the EU’s extensive digital strategy, alongside the Digital Services Act and the Digital Markets Act. The EU digital strategy aims to establish a thorough regulatory framework that tackles the diverse challenges and opportunities of the digital economy. Secondly, the Romanian Government approved the National Strategy regarding Artificial Intelligence (“AI Strategy”) on 11 July. The AI Strategy aims to contribute to Romania’s adoption of digital technologies in the economy and society, while respecting human rights and promoting excellence and trust in AI.

On 12 April 2024, the Council of the European Union adopted the revised text of Directive 2010/31/EU on the energy performance of buildings (the “Revised Directive”). The Revised Directive was published in the Official Journal of the European Union on 8 May 2024 and Member States will have to transpose it into national legislation within 2 years of its entry into force (i.e. 28 May 2024).

Schoenherr, working with Rutgers & Posch, has advised the shareholders of Resalta on the disposal of a controlling stake in Resalta BV Netherlands, including its Slovenian, Croatian, Serbian, Romanian, and Czech Republic subsidiaries, to Aggreko. A&O Shearman reportedly advised Aggreko.

Nyerges & Partners has advised Shikun & Binui Energy on a EUR 49 million loan from Raiffeisen Bank International AG for their second Romanian investment – a 101-megawatt photovoltaic facility located in Simleu Silvaniei. CMS reportedly advised Raiffeisen Bank.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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