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360Competition Advises Therme Group on Merger Control and FDI Clearances for EUR 1 Billion JV with CVC Capital Partners

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360Competition has advised Therme Group on Romanian merger control and foreign direct investment screening clearances for its EUR 1 billion joint venture with CVC Capital Partners.

According to 360Competition, the newly formed joint venture, Therme Horizon, brings together Therme Group’s operational and development know-how with CVC’s global investment platform. The new entity will include Therme Bucuresti and Therme Erding and is expected to support the group’s continued expansion across Europe.

Bondoc si Asociatii, Slaughter and May, and K&L Gates advised CVC Capital Partners on the establishment of the joint venture with Therme Group itself (as reported by CEE Legal Matters on June 20, 2025).

The 360Competition team included Partner Adrian Ster and Senior Associate Raluca Maxim.

Romanian Knowledge Partner

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). 

Firm's website.

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