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Tuca Zbarcea and Asociatii advised Accel Partners in the funding transaction with UiPath This article was published by Outsourcing Today - http://www.outsourcing-today.ro/articol.php?id=7051 Recently, UiPath, the leading Robotic Process Automation (RPA) software company announced a Series A investment totaling 30 million US dollars led by Accel and with participation from previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp. Investment fund Accel Partners has been advised by law firm Tuca Zbarcea&Asociatii in this transaction, being represented by lawyers Sorin Vladescu, Partner and Mihaela Nyerges, Managing Associate. Recently, UiPath, the leading Robotic Process Automation (RPA) software company announced a Series A investment totaling 30 million US dollars led by Accel and with participation from previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp. The company representatives announced that the funding will be used to accelerate the company's rapid global expansion and product development, building on its six times growth in 2016. Investment fund Accel Partners has been advised by law firm Tuca Zbarcea&Asociatii in this transaction, being represented by lawyers Sorin Vladescu, Partner and Mihaela Nyerges, Managing Associate. Background information UiPath builds intelligent software robots that help businesses globally automate repetitive processes by leveraging cutting-edge computer vision technology. Large organizations across every industry spend a significant amount of time and resources performing such processes across HR, finance, accounting and operations (e.g. claims handling for insurance providers, employee onboarding, back office support etc). Digitizing these processes improves productivity, accuracy and compliance dramatically, allowing employees to focus on more creative and strategic work. UiPath will use this investment to boost hiring in order to keep up with rocketing demand for its products in North America, Western Europe, India, Japan and South East Asia. The funding will also support continued investment in product development and Artificial Intelligence capabilities, especially around its core computer vision technology. Additionally, the company will focus on cognitive capabilities enabling organizations to handle the vast amounts of structured and unstructured data required to deliver truly intelligent automation. UiPath has built strong momentum in a short period of time, growing to a team of 150 employees. It has over 150 partners including the major consultancies such as Deloitte and Capgemini, and 200 customers globally in industries ranging from banking, financial services and insurance through to manufacturing, utilities, healthcare and government. Many leading enterprises are among its customers, including blue chip companies such as Lufthansa, Generali, Telenor and Dong Energy. The company is well positioned to conquer the global RPA market, which is expected to reach $9B in size in the next seven years. UiPath has won top industry accolades for its technology, with the latest Forrester report on RPA identifying the company as a leader in the space, overtaking its competitors in technology performance. Everest Group also rated UiPath an ‘RPA Star Performer' for 2016 with regards to its market impact. This investment comes on the back of increasing funding activity for artificial intelligence startups. 2016 saw a record of $5B venture capital funds flowing into AI companies worldwide, an increase of 60% compared to 2015. "This investment will allow us to introduce the benefits of intelligent RPA to even more businesses around the world and remain at the forefront of a rapidly-advancing industry," comments Daniel Dines, CEO and founder of UiPath. "We are making work more inspiring and effective for the people that drive our businesses and economies forward, and the potential that remains untapped for organizations is what makes this such an exciting market to work in." "UiPath is the backbone for the intelligent enterprise," Luciana Lixandru, partner at Accel, comments. "Daniel's clear and ambitious vision for the company has helped drive impressive traction in a short period of time. Many enterprises around the world are recognizing how its RPA software can make their business smarter, and yet UiPath has only scratched the surface." "We invest in companies that impact the world around us, and UiPath falls firmly into that category," comments Dan Lupu, partner at Earlybird Venture Capital. "The rapid global growth that the business has achieved is evidence of the transformative nature of its technology. As a result, UiPath's RPA technology solutions are playing a vital role in putting businesses at the cutting edge of their industry, now and in the future." About UiPath UiPath is a leading RPA vendor providing a complete software platform to help organizations efficiently automate business processes. UIPath is a US-based company founded in Romania, with additional offices in the UK, India, Singapore and Japan. The company has 200 global customers (75 per cent of which register revenues exceeding 10 billion dollars) and over 150 partners across the globe.
May 3, 2017
Tuca Zbarcea and Asociatii advised Accel Partners in the funding transaction with UiPath

This article was published by Outsourcing Today - http://www.outsourcing-today.ro/articol.php?id=7051

Recently, UiPath, the leading Robotic Process Automation (RPA) software company announced a Series A investment totaling 30 million US dollars led by Accel and with participation from previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp. Investment fund Accel Partners has been advised by law firm Țuca Zbarcea&Asociații in this transaction, being represented by lawyers Sorin Vladescu, Partner and Mihaela Nyerges, Managing Associate. [+]

Recently, UiPath, the leading Robotic Process Automation (RPA) software company announced a Series A investment totaling 30 million US dollars led by Accel and with participation from previous investors Earlybird Venture Capital, Credo Ventures and Seedcamp. 

The company representatives announced that the funding will be used to accelerate the company's rapid global expansion and product development, building on its six times growth in 2016.

Investment fund Accel Partners has been advised by law firm Țuca Zbarcea&Asociații in this transaction, being represented by lawyers Sorin Vladescu, Partner and Mihaela Nyerges, Managing Associate.

Background information

UiPath builds intelligent software robots that help businesses globally automate repetitive processes by leveraging cutting-edge computer vision technology. Large organizations across every industry spend a significant amount of time and resources performing such processes across HR, finance, accounting and operations (e.g. claims handling for insurance providers, employee onboarding, back office support etc). Digitizing these processes improves productivity, accuracy and compliance dramatically, allowing employees to focus on more creative and strategic work.

UiPath will use this investment to boost hiring in order to keep up with rocketing demand for its products in North America, Western Europe, India, Japan and South East Asia. The funding will also support continued investment in product development and Artificial Intelligence capabilities, especially around its core computer vision technology. Additionally, the company will focus on cognitive capabilities enabling organizations to handle the vast amounts of structured and unstructured data required to deliver truly intelligent automation.

UiPath has built strong momentum in a short period of time, growing to a team of 150 employees. It has over 150 partners including the major consultancies such as Deloitte and Capgemini, and 200 customers globally in industries ranging from banking, financial services and insurance through to manufacturing, utilities, healthcare and government. Many leading enterprises are among its customers, including blue chip companies such as Lufthansa, Generali, Telenor and Dong Energy. The company is well positioned to conquer the global RPA market, which is expected to reach $9B in size in the next seven years.

UiPath has won top industry accolades for its technology, with the latest Forrester report on RPA identifying the company as a leader in the space, overtaking its competitors in technology performance. Everest Group also rated UiPath an ‘RPA Star Performer' for 2016 with regards to its market impact.

This investment comes on the back of increasing funding activity for artificial intelligence startups. 2016 saw a record of $5B venture capital funds flowing into AI companies worldwide, an increase of 60% compared to 2015.

"This investment will allow us to introduce the benefits of intelligent RPA to even more businesses around the world and remain at the forefront of a rapidly-advancing industry," comments Daniel Dines, CEO and founder of UiPath. "We are making work more inspiring and effective for the people that drive our businesses and economies forward, and the potential that remains untapped for organizations is what makes this such an exciting market to work in."

"UiPath is the backbone for the intelligent enterprise," Luciana Lixandru, partner at Accel, comments. "Daniel's clear and ambitious vision for the company has helped drive impressive traction in a short period of time. Many enterprises around the world are recognizing how its RPA software can make their business smarter, and yet UiPath has only scratched the surface."

"We invest in companies that impact the world around us, and UiPath falls firmly into that category," comments Dan Lupu, partner at Earlybird Venture Capital. "The rapid global growth that the business has achieved is evidence of the transformative nature of its technology. As a result, UiPath's RPA technology solutions are playing a vital role in putting businesses at the cutting edge of their industry, now and in the future."

About UiPath

UiPath is a leading RPA vendor providing a complete software platform to help organizations efficiently automate business processes.

UIPath is a US-based company founded in Romania, with additional offices in the UK, India, Singapore and Japan. The company has 200 global customers (75 per cent of which register revenues exceeding 10 billion dollars) and over 150 partners across the globe.

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Legal 500 recommends Tuca Zbarcea & Asociatii in 11 areas of practice This year’s edition of the Legal 500 EMEA praised Tuca Zbarcea & Asociatii for its work in 11 areas of practice, thus it preserved its leading positions in the following areas: Commercial, Corporate and M&A; Dispute Resolution; Employment; Energy and Natural Resources; Intellectual Property; PPP and Procurement; Real Estate and Construction; Restructuring and Insolvency; TMT; and Tax. As such, Tuca Zbarcea & Asociatii ranks Tier 1 in the above-mentioned areas, while also gaining Tier 2 spots in White-Collar Crime, Gambling Law and Banking, Finance and Capital Markets. The Legal 500 EMEA guide, recently released in London, provides researched coverage of 81 countries and over 2,700 ranked law firms. Counting on a thorough research over individually assessed matters provided by law firm, as well as on the feedback of over 300,000 global clients, Legal 500 is a top-notch research tool, offering an impartial image upon world-wide leading law firms and lawyers in countries across the region. This year’s edition of the Legal 500 EMEA praised Tuca Zbarcea & Asociatii for its work in 11 areas of practice, thus it preserved its leading positions in the following areas: Commercial, Corporate and M&A; Dispute Resolution; Employment; Energy and Natural Resources; Intellectual Property; PPP and Procurement; Real Estate and Construction; Restructuring and Insolvency; TMT; and Tax. As such, Tuca Zbarcea & Asociatii ranks Tier 1 in the above-mentioned areas, while also gaining Tier 2 spots in White-Collar Crime, Gambling Law and Banking, Finance and Capital Markets. In over 28 years since the publication of its first edition, Legal 500 has become a benchmark in business law.
April 25, 2017
Legal 500 recommends Țuca Zbârcea & Asociații in 11 areas of practice
This year’s edition of the Legal 500 EMEA praised Țuca Zbârcea & Asociații for its work in 11 areas of practice, thus it preserved its leading positions in the following areas: Commercial, Corporate and M&A; Dispute Resolution; Employment; Energy and Natural Resources; Intellectual Property; PPP and Procurement; Real Estate and Construction; Restructuring and Insolvency; TMT; and Tax. As such, Țuca Zbârcea & Asociații ranks Tier 1 in the above-mentioned areas, while also gaining Tier 2 spots in White-Collar Crime, Gambling Law and Banking, Finance and Capital Markets. [+]

The Legal 500 EMEA guide, recently released in London, provides researched coverage of 81 countries and over 2,700 ranked law firms. Counting on a thorough research over individually assessed matters provided by law firm, as well as on the feedback of over 300,000 global clients, Legal 500 is a top-notch research tool, offering an impartial image upon world-wide leading law firms and lawyers in countries across the region.

This year’s edition of the Legal 500 EMEA praised Țuca Zbârcea & Asociații for its work in 11 areas of practice, thus it preserved its leading positions in the following areas: Commercial, Corporate and M&A; Dispute Resolution; Employment; Energy and Natural Resources; Intellectual Property; PPP and Procurement; Real Estate and Construction; Restructuring and Insolvency; TMT; and Tax. As such, Țuca Zbârcea & Asociații ranks Tier 1 in the above-mentioned areas, while also gaining Tier 2 spots in White-Collar Crime, Gambling Law and Banking, Finance and Capital Markets.

In over 28 years since the publication of its first edition, Legal 500 has become a benchmark in business law.

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Tuca Zbarcea & Asociatii Launches a Public Speaking Internship Program Open to Law School Students The internship is open to students from any law school, irrespective of their year, who aspire to lay the foundations for a successful speech or simply enhance their public speaking skills, regardless of future professional ambitions (i.e., business/commercial lawyer or pleading lawyer), personality type (i.e., extrovert or introvert), prior public speaking experience etc. The Public Speaking Internship. An informal approach covers topics that will help interns gain a comprehensive understanding of fundamental public speaking techniques, such as how to structure a speech, how to deal with speech anxiety, how to address counterarguments persuasively, and how to use humour effectively. The program includes 12 training sessions to take place between March 2017 and February 2018, educating students, in an informal manner, about essential speaking techniques. The Public Speaking Internship. An informal approach covers topics that will help interns gain a comprehensive understanding of fundamental public speaking techniques, such as how to structure a speech, how to deal with speech anxiety, how to address counterarguments persuasively, and how to use humour effectively. The internship is open to students from any law school, irrespective of their year, who aspire to lay the foundations for a successful speech or simply enhance their public speaking skills, regardless of future professional ambitions (i.e., business/commercial lawyer or pleading lawyer), personality type (i.e., extrovert or introvert), prior public speaking experience etc. The Public Speaking Internship. An informal approach is designed for a less formal environment, encouraging interaction and active participation, and consists of both theoretical and more practical presentations. The lectures are Florentin Tuca, Managing Partner, and Dan Cristea, Managing Associate, both lawyers with extensive expertise in public speaking and rhetoric. A raft of key-note speakers from various fields is also expected to join in as special guests. The Public Speaking Internship. An informal approach is part of a suite of similar initiatives led by Tuca Zbarcea & Asociatii, with the firm being an active promoter of debate as a teaching tool and an integral part of the education system in Romania. On various previous occasions, Managing Partner Florentin Tuca has pointed out the role of logic and rhetoric in nurturing the younger generations and preparing them to explore a variety of professional roles, including a career in the legal field. “In spite of what is commonly believed in the field or what is advertised in relation thereto, mastering the art of rhetoric has very few recipes. An excellent public speaker would have to find personal ways to enhance his/her skills by being constantly exposed to a variety of public speaking situations, as well as using self-analysis throughout this process, while being mentored to overcome the inherent barriers along the way,” says Dan Cristea, Managing Associate at Tuca Zbarcea & Asociatii. Interested applicants are invited to send their résumés (CVs) in Romanian and a short letter stating their reasons for wishing to participate in the Public Speaking Internship. An informal approach program. Applications should be sent to office@tuca.ro by March 20th. Successful candidates will receive final confirmation of enrolment in the program by March 24th at the latest. The first training session will take place during the week March 27th – March 31st, subject to interns’ prior confirmation of availability. The Public Speaking Internship. An informal approach consists of 12 training sessions between March 2017 and February 2018. For further details about the program, please download the attached presentation.
March 13, 2017
Țuca Zbârcea & Asociații Launches a Public Speaking Internship Program Open to Law School Students

The internship is open to students from any law school, irrespective of their year, who aspire to lay the foundations for a successful speech or simply enhance their public speaking skills, regardless of future professional ambitions (i.e., business/commercial lawyer or pleading lawyer), personality type (i.e., extrovert or introvert), prior public speaking experience etc.

The Public Speaking Internship. An informal approach covers topics that will help interns gain a comprehensive understanding of fundamental public speaking techniques, such as how to structure a speech, how to deal with speech anxiety, how to address counterarguments persuasively, and how to use humour effectively. [+]

The program includes 12 training sessions to take place between March 2017 and February 2018, educating students, in an informal manner, about essential speaking techniques.

The Public Speaking Internship. An informal approach covers topics that will help interns gain a comprehensive understanding of fundamental public speaking techniques, such as how to structure a speech, how to deal with speech anxiety, how to address counterarguments persuasively, and how to use humour effectively.

The internship is open to students from any law school, irrespective of their year, who aspire to lay the foundations for a successful speech or simply enhance their public speaking skills, regardless of future professional ambitions (i.e., business/commercial lawyer or pleading lawyer), personality type (i.e., extrovert or introvert), prior public speaking experience etc.

The Public Speaking Internship. An informal approach is designed for a less formal environment, encouraging interaction and active participation, and consists of both theoretical and more practical presentations. The lectures are Florentin Țuca, Managing Partner, and Dan Cristea, Managing Associate, both lawyers with extensive expertise in public speaking and rhetoric. A raft of key-note speakers from various fields is also expected to join in as special guests.

The Public Speaking Internship. An informal approach is part of a suite of similar initiatives led by Țuca Zbârcea & Asociații, with the firm being an active promoter of debate as a teaching tool and an integral part of the education system in Romania. On various previous occasions, Managing Partner Florentin Țuca has pointed out the role of logic and rhetoric in nurturing the younger generations and preparing them to explore a variety of professional roles, including a career in the legal field.

“In spite of what is commonly believed in the field or what is advertised in relation thereto, mastering the art of rhetoric has very few recipes. An excellent public speaker would have to find personal ways to enhance his/her skills by being constantly exposed to a variety of public speaking situations, as well as using self-analysis throughout this process, while being mentored to overcome the inherent barriers along the way,” says Dan Cristea, Managing Associate at Țuca Zbârcea & Asociații.

Interested applicants are invited to send their résumés (CVs) in Romanian and a short letter stating their reasons for wishing to participate in the Public Speaking Internship. An informal approach program. Applications should be sent to office@tuca.ro by March 20th.

Successful candidates will receive final confirmation of enrolment in the program by March 24th at the latest. The first training session will take place during the week March 27th – March 31st, subject to interns’ prior confirmation of availability.

The Public Speaking Internship. An informal approach consists of 12 training sessions between March 2017 and February 2018.

For further details about the program, please download the attached presentation.

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Fortuna Entertainment Group seals deal to acquire businesses in Romania, Croatia and Spain Fortuna Entertainment Group, a leading sport betting company, has acquired 100% share in Hattrick Sports Group Ltd., Ireland (”Hattrick Sports Group”). The sellers are Hattrick Sports Group LLC (U.S) and other shareholders and share warrant holders. According to a press statement issued by Fortuna Entertainment Group, the transaction is subject to conditions precedent including approval of the competition councils and by the shareholders of Fortuna. The closing of the transaction is expected to occur in the first half of 2017. Fortuna Entertainment Group, a leading sport betting company, has acquired 100% share in Hattrick Sports Group Ltd., Ireland (”Hattrick Sports Group”). The sellers are Hattrick Sports Group LLC (U.S) and other shareholders and share warrant holders. According to a press statement issued by Fortuna Entertainment Group, the transaction is subject to conditions precedent including approval of the competition councils and by the shareholders of Fortuna. The closing of the transaction is expected to occur in the first half of 2017. Romanian independent law firm Tuca Zbarcea & Asociatii took a lead role on the deal advising on the Romanian related legal issues incident to the transaction. Partner Cristian Radu, specialising in Gambling law, headed the team of lawyers who acted on buyer’s side on this project. The target deal in Romania is ”Casa Pariurilor”, the second largest bet shops operator, having a network of over 700 outlets. The acquisition is driven by the plans of Fortuna to become the largest gambling operator in Romania. Our team has performed an in-depth legal due-diligence exercise and has assisted in the structuring of the transaction and, respectively, the drafting and negotiation of the transaction documents. Currently, we are advising the client in the process of setting-up the acquisition finance. The initial consideration to be paid by Fortuna for the acquisition of Hattrick Sports Group will be approximately EUR 85 million. As a further consideration, an earn-out mechanism has been agreed with the Sellers which is based on future financial performance of Hattrick Sports Group and which may lead to payment of a maximum additional amount of EUR 50 million. The initial consideration will be funded mainly via bank loans. For further information on the deal, please refer to http://www.fortunagroup.eu/public/ae/bd/df/753847_1276149__20170220_FEG_Regulatory_announcement_English.pdf
February 23, 2017
Fortuna Entertainment Group seals deal to acquire businesses in Romania, Croatia and Spain
Fortuna Entertainment Group, a leading sport betting company, has acquired 100% share in Hattrick Sports Group Ltd., Ireland (”Hattrick Sports Group”). The sellers are Hattrick Sports Group LLC (U.S) and other shareholders and share warrant holders. According to a press statement issued by Fortuna Entertainment Group, the transaction is subject to conditions precedent including approval of the competition councils and by the shareholders of Fortuna. The closing of the transaction is expected to occur in the first half of 2017. [+]

Fortuna Entertainment Group, a leading sport betting company, has acquired 100% share in Hattrick Sports Group Ltd., Ireland (”Hattrick Sports Group”). The sellers are Hattrick Sports Group LLC (U.S) and other shareholders and share warrant holders. According to a press statement issued by Fortuna Entertainment Group, the transaction is subject to conditions precedent including approval of the competition councils and by the shareholders of Fortuna. The closing of the transaction is expected to occur in the first half of 2017.

Romanian independent law firm Țuca Zbârcea & Asociații took a lead role on the deal advising on the Romanian related legal issues incident to the transaction. Partner Cristian Radu, specialising in Gambling law, headed the team of lawyers who acted on buyer’s side on this project.

The target deal in Romania is ”Casa Pariurilor”, the second largest bet shops operator, having a network of over 700 outlets. The acquisition is driven by the plans of Fortuna to become the largest gambling operator in Romania.

Our team has performed an in-depth legal due-diligence exercise and has assisted in the structuring of the transaction and, respectively, the drafting and negotiation of the transaction documents.

Currently, we are advising the client in the process of setting-up the acquisition finance.

The initial consideration to be paid by Fortuna for the acquisition of Hattrick Sports Group will be approximately EUR 85 million. As a further consideration, an earn-out mechanism has been agreed with the Sellers which is based on future financial performance of Hattrick Sports Group and which may lead to payment of a maximum additional amount of EUR 50 million. The initial consideration will be funded mainly via bank loans.

For further information on the deal, please refer to http://www.fortunagroup.eu/public/ae/bd/df/753847_1276149__20170220_FEG_Regulatory_announcement_English.pdf 

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The Lawyer: M&A Boom in the CEE: how firms are harnessing the trend This article first appeared in The Lawyer magazine With Europe facing significant political headwinds including elections and a new US administration, will buyers and sellers become risk-averse? And why have international law firms dominated M&A tables for so long? The Lawyer’s CEE experts discuss. With Europe facing significant political headwinds including elections and a new US administration, will buyers and sellers become risk-averse? And why have international law firms dominated M&A tables for so long? The Lawyer’s CEE experts discuss. Our Deputy Managing Partner, Stefan Damian says: „Like it or not, politics influences the economy, in particular the economy in CEE. I’m not only referring to Brexit but also to the political events that will come along in 2017 – elections in the EU (Germany, Italy and France, the last two having strong parties with anti-EU platforms) that could make countries focus more on their internal markets while companies from these countries will probably wait for the results of the elections before making any substantial expansions plans. The US will also be, at least for Romania, an important element; I mean, the Trump administration’s policies in relation to this region. The situation in Ukraine should be a cause for concern for the region, too. In addition, economically, prospects are quite dull – EU GDP growth is close to zero, Greece has never-ending financial problems and there are problems with the entire banking sector in Italy. Ironically, notwithstanding all the above, Romania looks politically and economically pretty good and stable: economic growth seems to be continuing at a high rate; we have just completed Parliamentary elections; and the winning coalition and new government seem to be strong and stable with a focus on economic development. However, we don’t have a buffer against the rest of the world unfortunately, and if the world – and especially the EU – suffers, we will suffer. All in all I’m moderately optimistic about 2017. We’ll probably see an increase in M&A activity compared with 2016, but it will definitely not be a boom”. To read the entire interview, please go to: https://www.thelawyer.com/issues/30-january-2017/ma-boom-cee-firms-harnessing-trend/
February 22, 2017
The Lawyer: M&A Boom in the CEE: how firms are harnessing the trend

This article first appeared in The Lawyer magazine

With Europe facing significant political headwinds including elections and a new US administration, will buyers and sellers become risk-averse? And why have international law firms dominated M&A tables for so long? The Lawyer’s CEE experts discuss. [+]

With Europe facing significant political headwinds including elections and a new US administration, will buyers and sellers become risk-averse? And why have international law firms dominated M&A tables for so long? The Lawyer’s CEE experts discuss.

Our Deputy Managing Partner, Ștefan Damian says:

„Like it or not, politics influences the economy, in particular the economy in CEE. I’m not only referring to Brexit but also to the political events that will come along in 2017 – elections in the EU (Germany, Italy and France, the last two having strong parties with anti-EU platforms) that could make countries focus more on their internal markets while companies from
these countries will probably wait for the results of the elections before making any substantial expansions plans.

The US will also be, at least for Romania, an important element; I mean, the Trump administration’s policies in relation to this region. The situation in Ukraine should be a cause for concern for the region, too.

In addition, economically, prospects are quite dull – EU GDP growth is close to zero, Greece has never-ending financial problems and there are problems with the entire banking sector in Italy.

Ironically, notwithstanding all the above, Romania looks politically and economically pretty good and stable: economic growth seems to be continuing at a high rate; we have just completed Parliamentary elections; and the winning coalition and new government seem to be strong and stable with a focus on economic development.

However, we don’t have a buffer against the rest of the world unfortunately, and if the world – and especially the EU – suffers, we will suffer.

All in all I’m moderately optimistic about 2017. We’ll probably see an increase in M&A activity compared with 2016, but it will definitely not be a boom”.

To read the entire interview, please go to: https://www.thelawyer.com/issues/30-january-2017/ma-boom-cee-firms-harnessing-trend/ 

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Romanian independent outfit closes Direct One-Netcity Telecom deal Direct One, a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network, announced the completion of the transaction to acquire Netcity telecom’s infrastructure from UTI Group. Direct One, a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network, announced the completion of the transaction to acquire Netcity telecom’s infrastructure from UTI Group. The deal got regulatory approval in December 2016, while debt financing was provided by the Mandated Lead Arrangers Banca Comerciala Romana and BRD – Groupe Societe Generale. Tuca Zbarcea & Asociatii advised the buyer on all telecom/regulatory, as well as M&A and corporate issues surrounding the deal, from a due diligence investigation on the target company, to assisting in relation to the transaction structuring and reviewing the transaction documents up to the negotiation thereof. The team also acted on the financing side of the deal. The team was led by Partners Catalin Baiculescu (Corporate, M&A, TMT) and Vlad Cercel (TMT), as well as Mihai Dudoiu (Banking & Finance). Direct One is a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network. Netcity Telecom is the operator of the capital Bucharest's underground fibre optic network under a 49-year concession agreement concluded with the Bucharest municipality in 2008.
February 16, 2017
Romanian independent outfit closes Direct One-Netcity Telecom deal
Direct One, a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network, announced the completion of the transaction to acquire Netcity telecom’s infrastructure from UTI Group. [+]

Direct One, a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network, announced the completion of the transaction to acquire Netcity telecom’s infrastructure from UTI Group.

The deal got regulatory approval in December 2016, while debt financing was provided by the Mandated Lead Arrangers Banca Comercială Română and BRD – Groupe Societe Generale.

Țuca Zbârcea & Asociații advised the buyer on all telecom/regulatory, as well as M&A and corporate issues surrounding the deal, from a due diligence investigation on the target company, to assisting in relation to the transaction structuring and reviewing the transaction documents up to the negotiation thereof. The team also acted on the financing side of the deal.

The team was led by Partners Cătălin Băiculescu (Corporate, M&A, TMT) and Vlad Cercel (TMT), as well as Mihai Dudoiu (Banking & Finance).

Direct One is a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network.

Netcity Telecom is the operator of the capital Bucharest's underground fibre optic network under a 49-year concession agreement concluded with the Bucharest municipality in 2008.

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Tuca Zbarcea & Asociatii adds four Partners to its ranks as part of the firm’s annual promotions round Romanian independent outfit Tuca Zbarcea & Asociatii has made up four Partners and seven Senior Associates in its annual round of promotions. The appointments are effective from January 1st, 2017. Romanian independent law firm Tuca Zbarcea & Asociatii has announced that 11 lawyers have been promoted to various roles as part of its annual performance review. The firm has added four Partners to its ranks, while promoting seven other lawyers in its Bucharest office in a bid to further strengthen the firm’s Banking and Finance, Litigation and Arbitration, as well as Corporate and Commercial, Real Estate, and Employment Law practice groups. Romanian independent outfit Tuca Zbarcea & Asociatii has made up four Partners and seven Senior Associates in its annual round of promotions. The appointments are effective from January 1st, 2017. Romanian independent law firm Tuca Zbarcea & Asociatii has announced that 11 lawyers have been promoted to various roles as part of its annual performance review. The firm has added four Partners to its ranks, while promoting seven other lawyers in its Bucharest office in a bid to further strengthen the firm’s Banking and Finance, Litigation and Arbitration, as well as Corporate and Commercial, Real Estate, and Employment Law practice groups. The firm’s new Partners are (in alphabetical order): Gabriela Anton, Oana Gavrila, Horia Ispas and Anca Puscasu, all lawyers with extensive experience in the profession, which they combine with strong leadership and project management skills gained in their capacity as members of the firm’s elite group of Managing Associates over the past few years. The firm separately promoted seven lawyers to the role of Senior Associate, namely (in alphabetical order): Veronica Aman, Roxana Catea, Tudor Craciun, Gabriela Dinu, Valentin Moga, Cornelia Tabirta and Eugen Tudose. Tuca Zbarcea & Asociatii now boasts 112 lawyers, including 29 Partners as of January 2017. Notes to editors: Gabriela ANTON, now a Partner at Tuca Zbarcea & Asociatii, has more than 15 years of experience in the legal profession. She specialises mainly in banking and finance, and mergers and acquisitions in the banking sector. Gabriela has advised credit institutions, investment funds, and other international financial institutions, as well as borrowers, on a wide range of transactions, such as project finance and corporate finance in various industries. She has also been involved in mergers and acquisitions, privatisations, restructuring projects and the transfer of banking assets, including non-performing loan portfolios. Her other areas of practice are corporate and commercial law. Gabriela Anton graduated from the Faculty of Law at the University of Bucharest and the College of Law for European Studies of the University of Paris I Pantheon Sorbonne in 2000. Oana GAVRILA is a Partner at Tuca Zbarcea & Asociatii and a pleading lawyer with 12 years of experience before the courts, up to the High Court of Cassation and Justice, Romania’s supreme court. She has represented clients in contentious-administrative cases, mainly tax and customs related disputes, devising the strategy prior to initiating legal action, drawing up of all procedural documents and providing legal representation in court. Furthermore, she has acted in contractual claims and tort liabilities cases, as well as civil disputes and labour related cases. She also has a strong track record providing insightful advice and representation in public procurement disputes. A graduate of the University of Bucharest’s Faculty of Law in 2003, Oana Gavrila was admitted to the Bucharest Bar in 2004. She is also a Certified Expert in Public Procurement. Horia ISPAS is a Partner in the firm’s corporate and mergers & acquisitions practice groups. For the past 12 years, he has advised on private mergers and acquisitions, as well as privatisation projects involving major state-owned companies, having drafted and negotiated the underlying documentation such as shares sale and purchase agreements, joint-venture agreements, pledge agreements, etc. He also has a vast experience in complex corporate operations, including specific operations of companies listed on the capital market. Other areas of particular focus for him are personal data protection and consumer protection. Horia Ispas has graduated from the University of Bucharest’s Faculty of Law in 2003 and has been a member of the Bucharest Bar since 2004. He is a Certified Expert in European Structural and Cohesion Funds. Anca PUSCASU, now a Partner at Tuca Zbarcea & Asociatii, has 16 years of experience mainly in commercial arbitration under the rules of the ICSID, ICC, GAFTA and VIAC, whereas she has prepared the written statements for the arbitral tribunal, investigating factual issues and events that are relevant to cases, preparing and participating in oral hearings before the arbitral tribunal, etc. Her practice includes advising on various mergers and acquisitions projects, as well as on corporate and commercial law: the establishment and structuring of commercial companies, consultancy in corporate management, including by adjusting various management and operational structures, as well as legal assistance and representation in corporate disputes, labour law and various intellectual property matters. Anca Puscasu graduated from the Faculty of Law at the University of Bucharest in 1999 and was admitted to the Bucharest Bar in 2000. She also has a Project Management certification.
December 12, 2016
Țuca Zbârcea & Asociații adds four Partners to its ranks as part of the firm’s annual promotions round

Romanian independent outfit Țuca Zbârcea & Asociații has made up four Partners and seven Senior Associates in its annual round of promotions. The appointments are effective from January 1st, 2017.

Romanian independent law firm Țuca Zbârcea & Asociații has announced that 11 lawyers have been promoted to various roles as part of its annual performance review. The firm has added four Partners to its ranks, while promoting seven other lawyers in its Bucharest office in a bid to further strengthen the firm’s Banking and Finance, Litigation and Arbitration, as well as Corporate and Commercial, Real Estate, and Employment Law practice groups. [+]

Romanian independent outfit Țuca Zbârcea & Asociații has made up four Partners and seven Senior Associates in its annual round of promotions. The appointments are effective from January 1st, 2017.

Romanian independent law firm Țuca Zbârcea & Asociații has announced that 11 lawyers have been promoted to various roles as part of its annual performance review. The firm has added four Partners to its ranks, while promoting seven other lawyers in its Bucharest office in a bid to further strengthen the firm’s Banking and Finance, Litigation and Arbitration, as well as Corporate and Commercial, Real Estate, and Employment Law practice groups.

The firm’s new Partners are (in alphabetical order): Gabriela Anton, Oana Gavrilă, Horia Ispas and Anca Pușcașu, all lawyers with extensive experience in the profession, which they combine with strong leadership and project management skills gained in their capacity as members of the firm’s elite group of Managing Associates over the past few years.

The firm separately promoted seven lawyers to the role of Senior Associate, namely (in alphabetical order): Veronica Aman, Roxana Catea, Tudor Crăciun, Gabriela Dinu, Valentin Moga, Cornelia Tăbîrță and Eugen Tudose.

Țuca Zbârcea & Asociații now boasts 112 lawyers, including 29 Partners as of January 2017.

Notes to editors:

Gabriela AGabriela_Anton_Tuca_Zbarcea___AsociatiiNTON, now a Partner at Țuca Zbârcea & Asociații, has more than 15 years of experience in the legal profession. She specialises mainly in banking and finance, and mergers and acquisitions in the banking sector. Gabriela has advised credit institutions, investment funds, and other international financial institutions, as well as borrowers, on a wide range of transactions, such as project finance and corporate finance in various industries. She has also been involved in mergers and acquisitions, privatisations, restructuring projects and the transfer of banking assets, including non-performing loan portfolios. Her other areas of practice are corporate and commercial law. Gabriela Anton graduated from the Faculty of Law at the University of Bucharest and the College of Law for European Studies of the University of Paris I Pantheon Sorbonne in 2000.

Oana_Gavrila_Tuca_Zbarcea___AsociatiiOana GAVRILĂ is a Partner at Țuca Zbârcea & Asociații and a pleading lawyer with 12 years of experience before the courts, up to the High Court of Cassation and Justice, Romania’s supreme court. She has represented clients in contentious-administrative cases, mainly tax and customs related disputes, devising the strategy prior to initiating legal action, drawing up of all procedural documents and providing legal representation in court. Furthermore, she has acted in contractual claims and tort liabilities cases, as well as civil disputes and labour related cases. She also has a strong track record providing insightful advice and representation in public procurement disputes. A graduate of the University of Bucharest’s Faculty of Law in 2003, Oana Gavrilă was admitted to the Bucharest Bar in 2004. She is also a Certified Expert in Public Procurement.

Horia_Ispas_Tuca_Zbarcea___AsociatiiHoria ISPAS is a Partner in the firm’s corporate and mergers & acquisitions practice groups. For the past 12 years, he has advised on private mergers and acquisitions, as well as privatisation projects involving major state-owned companies, having drafted and negotiated the underlying documentation such as shares sale and purchase agreements, joint-venture agreements, pledge agreements, etc. He also has a vast experience in complex corporate operations, including specific operations of companies listed on the capital market. Other areas of particular focus for him are personal data protection and consumer protection. Horia Ispas has graduated from the University of Bucharest’s Faculty of Law in 2003 and has been a member of the Bucharest Bar since 2004. He is a Certified Expert in European Structural and Cohesion Funds.

Anca_Puscasu_Tuca_Zbarcea___AsociatiiAnca PUȘCAȘU, now a Partner at Țuca Zbârcea & Asociații, has 16 years of experience mainly in commercial arbitration under the rules of the ICSID, ICC, GAFTA and VIAC, whereas she has prepared the written statements for the arbitral tribunal, investigating factual issues and events that are relevant to cases, preparing and participating in oral hearings before the arbitral tribunal, etc. Her practice includes advising on various mergers and acquisitions projects, as well as on corporate and commercial law: the establishment and structuring of commercial companies, consultancy in corporate management, including by adjusting various management and operational structures, as well as legal assistance and representation in corporate disputes, labour law and various intellectual property matters. Anca Pușcașu graduated from the Faculty of Law at the University of Bucharest in 1999 and was admitted to the Bucharest Bar in 2000. She also has a Project Management certification.

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Țuca Zbarcea & Asociații advises on EUR 50 million loan agreement, reportedly the largest financing in the real estate market this year Romanian independent outfit acted for Unicredit Bank in relation to a EUR 50 million financing granted to Forte Partners, a Romanian developer, with a view to developing the first phase of The Bridge, an office project in Bucharest. Romanian independent outfit acted for Unicredit Bank in relation to a EUR 50 million financing granted to Forte Partners, a Romanian developer, with a view to developing the first phase of The Bridge, an office project in Bucharest. The scheme is going up in two phases on the site of a former bread factory. Bog'Art is the general contractor. Completion is set for September 2017. The team advising the lender was led by Partner Mihai Dudoiu, Head of the Banking & Finance practice group at Țuca Zbarcea & Asociații.
October 19, 2016
Țuca Zbârcea & Asociații advises on EUR 50 million loan agreement, reportedly the largest financing in the real estate market this year

Romanian independent outfit acted for Unicredit Bank in relation to a EUR 50 million financing granted to Forte Partners, a Romanian developer, with a view to developing the first phase of The Bridge, an office project in Bucharest. [+]

Romanian independent outfit acted for Unicredit Bank in relation to a EUR 50 million financing granted to Forte Partners, a Romanian developer, with a view to developing the first phase of The Bridge, an office project in Bucharest. The scheme is going up in two phases on the site of a former bread factory. Bog'Art is the general contractor. Completion is set for September 2017.

The team advising the lender was led by Partner Mihai Dudoiu, Head of the Banking & Finance practice group at Țuca Zbârcea & Asociații.

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