Popovici Nitu Stoica & Asociatii

PNSA advised AFI Europe, one of the leading real estate development, management and investment companies,

PNSA advised the owners of TehnoWorld, a provider in water infrastructure and utilities conveyance solutions for gas, telecom and electricity applications, on its sale to Romcim, a CRH company. 

PNSA assisted the organizers of Transylvania Open, the tennis tournament organized in Cluj-Napoca and voted WTA 250 Best Tournament of the Year for 2 consecutive years,

PNSA assisted Promat Comimpex, a company controlled by Ameropa Group in a joint venture with entrepreneurs Cristian Moldovan and Dan Corbut,

PNSA has advised Orange Group, one of the world's leading telecommunications and digital service providers, on post-acquisition merger between Orange Romania (ORO) and Orange Romania Communications (OROC),

Popovici Nițu Stoica & Asociații is pleased to announce the promotion of Alexandru Stan (International Arbitration; Corporate & Commercial) and Răzvan Alexandru Popa (Litigation; Restructuring & Insolvency; Tax) to Managing Associates.

PNSA advised Romanian Business Consult (RBC), the largest integrator of IT solutions for the retail industry, on the acquisition of Fullscreen Digital software company, thus strengthening its expertise in software development and digital transformation and expanding the range of IT services it offers to its customers.

We are delighted to announce that Popovici Nițu Stoica & Asociații won the prestigious “Best Real Estate Law Firm of the Year” distinction at the CIJ Awards Gala, a hallmark event that took place on December 8, 2022 at the Radisson Blu Hotel in Bucharest.

PNSA advised Electromontaj, the energy construction market leader in Romania, on the acquisition of Hidroconstructia, the largest Romanian company specialized in the field of hydropower and hydrotechnical constructions. The transaction also includes the subsidiaries of Hidroconstructia, namely ABC Asigurari Reasigurari, Hidroturism and Hidroedil.

PNSA advised PAVĂL HOLDING, the holding company of DEDEMAN, the biggest Romanian entrepreneurial company, on the acquisition of U Center 1 - the first phase of the U Center office project in Bucharest, from Forte Partners. U Center 1 comprises a modern 8 floor-office building with a GLA of around 30k sqm of A-class premises leased to top tier tenants like Endava, Booking, Banca Transilvania.

PNSA advised Dr. Leahu Dental Clinics Network on the acquisition of CORIDENT PRO Clinic from Sibiu.

PNSA advised Orange Group on the acquisition of a 54% controlling stake in Telekom Romania Communication, one of Romania's leading fixed telecom operators.

POPOVICI NIȚU STOICA & ASOCIAȚII is proud to announce that Raluca Rusu has been promoted to partnership in PNSA Tax, effective from 1 October 2020.

Popovici Nițu Stoica & Asociații advised BRD - Groupe Société Générale in the recently closed transaction by which BRD, BCR and Raiffeisen Bank Romania became equal shareholders in CIT One, one of the largest Romanian companies specialised in the transport, processing and storage of cash and other valuables. The transaction has previously been cleared by the Competition Council.

On October 2, 2020, the High Court of Cassation and Justice dismissed the appeal of the Agency for Payments and Intervention for Agriculture (APIA) against the decision of the Bucharest Court of Appeal, confirming that APIA subsidies granted to farmers can be assigned and enforced.

Popovici Nițu Stoica & Asociații is pleased to announce that Andrada Pleș joins PNSA Tax as Manager, effective as of September 15, 2020.

PNSA and PNSA Tax advised Burda Group on the sale of its business in Romania.

Popovici Niţu Stoica & Asociaţii advised WDP, one of the leading Belgian developers and owners of logistics and warehousing in the market, on the recent acquisition of three major logistics parks in Romania:

PNSA advised Auchan Retail Romania in respect of the takeover of the entire chain (more than 400 units) of OMV Petrom petrol filling stations in view of converting them into MyAuchan proximity stores and their further non-petrol retail operation. This is the biggest project ever of a Romanian petrol retailer to outsource the non-petrol products retail activity in favor of a top retail player on the Romanian market.

PNSA advised Belgian developer VGP Parks on the acquisition of real estate assets with a total area of ​​approximately 40 ha in Arad. This is considered by specialists the largest deal in the West part of Romania in 2020.

In the middle of a crisis such the current one, companies face variousunforeseeable challenges. And although at this moment the attention is directed towards overcoming this situation, one may not neglect how this outcome is achieved, especially considering that once the “storm”is over, misconducts tend to come to light and regulators will almost sure enforce the relevant regulations.

With a fewnotable exceptions, all companies are struggling these days. For some itis about organizing general business survival, for some it is about dealingwith the short-term cash-flow management, some are restructuring their businessand resetting the employment scheme, while for some the only option was tofreeze production and apply for various public support measures.

Introduction As the negative consequences of COVID-19 continue to expand, companies are facing various demanding challenges, one of them being related to the organisation of the Annual General Meetings of the Shareholders (“AGMS”).

1. Introductory aspects Since its outbreak in November, 2019 in China, COVID-19 has rapidly spread across Europe, the general opinion being that the peak is yet to come. The aggressive rate of spreading of COVID-19 has marked the financial markets, which now indicate a decrease of the earnings expectations.

PNSA COVID-19 Legal Response Team

The COVID-19 pandemic has shaken the globe and virtually all sectors have had to adapt to an increasingly contact-free environment. The world of arbitration is no exception, and in the past weeks we have seen a series of adjustments and solutions targeted at both safeguarding the health of participants and preserving the continuity of the process.

First one: Coronavirus & competition – any potential link?

Criminal liability of corporations is a hot topic worldwide. From financial institutions to global corporations, almost daily we hear about a large corporation being investigated, signing a Deferred Prosecution Agreement or being convicted, usually for money laundering, tax evasion or bribery.

PNSA advised the Swedish investment fund Oresa on the sale of Somaco, one of the leading precast concrete producers in Romania, to LafargeHolcim.

OPTIblue and Klarmann to be taken over by Innova Capital Popovici Niţu Stoica & Asociaţii advised Optical Network, the leading retailer and an important distributor on the Romanian optical market, on its sale to private equity fund Innova Capital.

PNSA advised its long-standing client Ameropa Group, worldwide leading Swiss grain and fertilizer trader, on the €324 million multicurrency revolving financing granted by a syndicate of banks composed of Banca Comerciala Romana, Raiffeisen Bank, ING Bank N.V. Amsterdam – Bucharest Branch and UniCredit Bank.

PNSA advised its long-standing client Magnetto Wheels on the negotiation of a guarantee agreement under the framework of an €134m financing granted by IFC and Cassa Depositi e Prestiti S.p.A.

PNSA advised RI-GD Investments DAC, as lender, on the accession of two Romanian subsidiaries of an Irish agribusiness group to a EUR 30,000,000 financing.

By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii

By Alexandru Ambrozie, Partner Popovici Niţu Stoica & Asociaţii and Luana Dragomirescu, Managing Associate Popovici Niţu Stoica & Asociaţii

January 2018 POPOVICI NIȚU STOICA & ASOCIAȚII promotes three lawyers to partnership.

GDPR: Relations and responsibilities in the processing of personal data (controllers, processors and sub-processors) There is no doubt that every company processes personal data (e.g. of its’ employees’, clients’, contractual partners’). Most often, this also involves a constant barter between companies processing personal data and companies providing various services (e.g. HR, IT, payroll, datacenters, cloud services), both of them falling within the scope of the GDPR.

The new General Data Protection Regulation (“GDPR”) could not have enlarged data controllers’ and data processors’ obligations and apply such great sanctions without anticipating the need for companies to appoint a Data Protection Officer (“DPO”). While companies must now turn their focus on ensuring compliance with the GDPR every step of the way, the DPO will be a key player in reaching this goal.

Laundered money is oxygen to crime, terrorism and tax-avoidance. We need to cut off its supply as best we can. Today's stronger rules are a big step forward but we now need quick agreement on the further improvements the Commission proposed last July", “(…) The new rules as of today are crucial to closing further loopholes. I urge all Member States to put them in place without delay: lower standards in one country will weaken the fight against money laundering and terrorist financing across the EU. I also call for quick agreement on the further revisions proposed by the Commission following the "Panama Papers" to increase transparency of beneficial ownership”,

By amending the Labour Code in August 2017, via the Emergency Ordinance no. 53/2017, the Government toughened the rules on conclusion and declaration of employment contracts and facilitated the authorities’ control activities in the sensitive area of undeclared work. Some of the main changes introduced by EGO no. 53/2017 are related to the registration of employment contracts, to the prohibition of rendering work/accepting work in the absence of a written employment contract and to the employer’s obligation to officially record the daily duration of each employee’s presence in the work place, including entry and exit hours.

With 2018 just around the corner and the European Union setting a clock on raising the standards of personal data protection, companies are starting to prepare themselves for new challenges. The General Data Protection Regulation (“GDPR”) approved by the EU in 2016 will enter into force on the 25th of May 2018 and all companies processing personal data need to be compliant by that time.