State of art expertise in Mergers & Acquisitions/Privatizations

M&A and privatizations encompass a wide array of transactions with a common denominator: they are meant to pass on interest in a business to a different investor or, in case of privatizations, from State controlled entities into private hands. Each M&A/privatization deal differs considerably and hence, although prior transactions may provide ideas, lessons and know-how, merely following stereotypes is not an option.

At MPR Partners, we pay great attention to details of the actual state of affairs, the nature of the industry, the type of the investments sought and the particulars of the client’s expectations. Coupled with the expertise gained in a high number of M&A and privatization transactions, this allows us to accurately define the legal structure of the deal, to swiftly identify red flags, find effective solutions, draft carefully balanced transaction documents and negotiate the optimum package on behalf of our clients.

Our lawyers have played throughout the years a key role in numerous privatizations and M&A transactions firmed up in many sectors, having advised both governmental entities and private investors. Our lawyers’ input extended well beyond due diligence and transaction documents, having equally focused on defining and documenting the relevant commercial ties, on the corporate and finance structuring of the deal, on transaction adjustments required as per the applicable regulatory framework as well as post-privatization and post-acquisition integration and monitoring. In addition, we have worked alongside commercial and investment bankers, international institutions, brokers, financial and technical advisors, in-house and foreign counsels, in a continuous team effort aimed at achieving duly coordinated multidisciplinary results.

Highlights of the assignments which have been handled by our lawyers throughout their practice include advice and representation to:

• A major European group, with regard to the acquisition of three Romanian rolling stock manufacturing businesses;
• One of the largest European investment funds, with regard to the acquisition of interests in several private Romanian companies acting in the energy, services and construction sectors;
• A large pharmaceutical company, with regard to the sale of its network of pharmacies;
• A major European airline, in connection with the attempted acquisition of the leading Romanian low cost airline;
• An international commercial bank, in relation to the privatization of one of the largest Romanian commercial banks;
• A European electricity supplier and distributor, with regard to the privatization of two Romanian electricity distribution companies;
• The Romanian Government, with regard to the privatization of the national oil company;
• A global pharmaceuticals company, in connection with the acquisition of a Romanian pharmaceutical company;
• An international company, with regard to the privatization of a Romanian natural gas distributor;
• A major European company, with regard to the acquisition of interest in a natural gas transportation company;
• An international company, in connection with the acquisition of two Romanian producers of sodium carbonate.

Publications

• Merger Control, Romania Chapter, International Comparative Legal Guides, December 2020 (ENG)
• Privatization on hold, August 2020 (ENG)
• MPR Partners contributes to the Romania chapter of Merger Control Global Practice Guide of Chambers and Partners, August 2019 (ENG)
• Merger Control in Romania, Global Practice Guide, Second Edition, Chambers and Partners, August 2019 (ENG)
• Merger Control in Romania, International Comparative Legal Guides, Global Legal Group, December 2018 (ENG)
• Romania, Mergers & Acquisitions – overview, highlights and forecast (ENG)

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