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Tuca Zbarcea & Asociatii advises on UniCredit Tiriac Bank - RBS Romania deal Romanian independent outfit Tuca Zbarcea & Asociatii landed a key role advising UniCredit Tiriac Bank on acquiring the corporate business of RBS Romania (the Romania branch of The Royal Bank of Scotland plc, Edinburgh). The deal follows a previous agreement between the same financial institutions signed in April 2013. Tuca Zbarcea & Asociatii acted on behalf of the buyer with a team led by Partner Mihai Dudoiu. He was supported by seven lawyers from the firm’s Finance, M&A, Employment, Competition practice groups. Romanian independent outfit Tuca Zbarcea & Asociatii landed a key role advising UniCredit Tiriac Bank on acquiring the corporate business of RBS Romania (the Romania branch of The Royal Bank of Scotland plc, Edinburgh). The deal follows a previous agreement between the same financial institutions signed in April 2013. At the time, UniCredit Tiriac Bank announced it had acquired the Retail and Royal Preferred Banking business from RBS Romania, representing approximately €315m in assets and €230m in liabilities. The transaction now involves the corporate business of RBS Romania and refers to a total portfolio of aggregate assets of around €260m and corporate deposits of around €315m, according to a joint statement released by UniCredit Tiriac Bank and RBS Romania on Tuesday. Tuca Zbarcea & Asociatii acted on behalf of the buyer with a team led by Partner Mihai Dudoiu. He was supported by seven lawyers from the firm’s Finance, M&A, Employment, Competition practice groups. In a recent statement, practice head Mihai Dudoiu anticipated “an increase of transactional activity in the banking sector and I am not referring to finance, but to the sale of NPLs portfolio from local banks to foreign investors (mainly investment funds)”, adding that he expected more deals to follow as the Romanian financial services market undergoes major changes and consolidation. The agreement between UniCredit Tiriac Bank and RBS Romania is part of a series of banking matters in which Tuca Zbarcea & Asociatii has been involved during the past 12 months. The Romanian firm acted for Piraeus Bank in relation to the takeover of some of ATE Bank’s assets in a partial de-merger. It also advised Getin Holding, the fastest growing Polish financial group, on acquiring a 100% stake in the Romanian International Bank (RIB). In another deal, Tuca Zbarcea & Asociatii acted for Getin Holding in relation to a cross-border transaction by which it acquired full ownership in the Romanian and Polish units of Volksbank Leasing. Local media recently reported that Tuca Zbarcea & Asociatii advised a consortium of international buyers on acquiring large portfolios of NPLs and SPLs worth more than €800m from Volksbank Romania and Banca Comerciala Romana (BCR).
August 5, 2014
Ţuca Zbârcea & Asociaţii advises on UniCredit Tiriac Bank - RBS Romania deal

Romanian independent outfit Ţuca Zbârcea & Asociaţii landed a key role advising UniCredit Tiriac Bank on acquiring the corporate business of RBS Romania (the Romania branch of The Royal Bank of Scotland plc, Edinburgh). The deal follows a previous agreement between the same financial institutions signed in April 2013.

Ţuca Zbârcea & Asociaţii acted on behalf of the buyer with a team led by Partner Mihai Dudoiu. He was supported by seven lawyers from the firm’s Finance, M&A, Employment, Competition practice groups. [+]

Romanian independent outfit Ţuca Zbârcea & Asociaţii landed a key role advising UniCredit Tiriac Bank on acquiring the corporate business of RBS Romania (the Romania branch of The Royal Bank of Scotland plc, Edinburgh).

The deal follows a previous agreement between the same financial institutions signed in April 2013. At the time, UniCredit Tiriac Bank announced it had acquired the Retail and Royal Preferred Banking business from RBS Romania, representing approximately €315m in assets and €230m in liabilities.

The transaction now involves the corporate business of RBS Romania and refers to a total portfolio of aggregate assets of around €260m and corporate deposits of around €315m, according to a joint statement released by UniCredit Tiriac Bank and RBS Romania on Tuesday.

Ţuca Zbârcea & Asociaţii acted on behalf of the buyer with a team led by Partner Mihai Dudoiu. He was supported by seven lawyers from the firm’s Finance, M&A, Employment, Competition practice groups.

In a recent statement, practice head Mihai Dudoiu anticipated “an increase of transactional activity in the banking sector and I am not referring to finance, but to the sale of NPLs portfolio from local banks to foreign investors (mainly investment funds)”, adding that he expected more deals to follow as the Romanian financial services market undergoes major changes and consolidation.

The agreement between UniCredit Tiriac Bank and RBS Romania is part of a series of banking matters in which Ţuca Zbârcea & Asociaţii has been involved during the past 12 months. The Romanian firm acted for Piraeus Bank in relation to the takeover of some of ATE Bank’s assets in a partial de-merger. It also advised Getin Holding, the fastest growing Polish financial group, on acquiring a 100% stake in the Romanian International Bank (RIB). In another deal, Ţuca Zbârcea & Asociaţii acted for Getin Holding in relation to a cross-border transaction by which it acquired full ownership in the Romanian and Polish units of Volksbank Leasing.

Local media recently reported that Ţuca Zbârcea & Asociaţii advised a consortium of international buyers on acquiring large portfolios of NPLs and SPLs worth more than €800m from Volksbank Romania and Banca Comerciala Romana (BCR).

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Tuca Zbarcea & Asociatii acts for Marubeni Corporation in a EUR 170 million investment project Japanese company Marubeni Corporation and ELCEN have agreed to form a JV to build a 250 MW gas-fired electricity plant in the central Romanian county of Mures worth roughly EUR 170 million, they announced in a statement released on Tuesday, 29 July. Romanian independent outfit Tuca Zbarcea & Asociatii has advised Marubeni Corporation, one of the largest and most profitable of Japan's unique and powerful “sogo shosha”, according to this statement. The legal team was led by Sorin Vladescu, Partner of Tuca Zbarcea & Asociatii. Japanese company Marubeni Corporation and ELCEN have agreed to form a JV to build a 250 MW gas-fired electricity plant in the central Romanian county of Mures worth roughly EUR 170 million, they announced in a statement released on Tuesday, 29 July. Romanian independent outfit Tuca Zbarcea & Asociatii has advised Marubeni Corporation, one of the largest and most profitable of Japan's unique and powerful “sogo shosha”, according to this statement. The legal team was led by Sorin Vladescu, Partner of Tuca Zbarcea & Asociatii. The Japanese company will control 90% of the newly formed company – SC Fantanele Gas Power SA – and it will bring an in-kind contribution of 30% to the share capital of the NewCo, with the rest stemming from loans. The NewCo will operate as an independent power producer (IPP) and would be connected to the grid in 2017. ELCEN will contribute with the land required for the development of the project and access to utilities. “Fantanele is our first infrastructure investment project in Romania and we are delighted to have reached this development phase which is part of our long-term strategy towards playing a more significant role in the Central and Eastern Europe region,” said Hiroshi Tachigami, president of Marubeni Europower. “Marubeni Europower seeks to expand its presence in Romania and this pilot project demonstrates the stability, safety and functionality of an energy market that aims to become independent. We will make every effort to successfully complete this investment with our partners and are trustfully looking forward to having a close cooperation with the authorities involved in financing the project according to the specific international rules and standards,” he added. Gabriel Ignat, general manager of ELCEN, Hiroshi Tachigami, president of Marubeni Europower, and other representatives from both companies and public authorities attended the contract signing ceremony taking place in Bucharest on 29 July. The investment project involves the development of electricity generation units fuelled by natural gas, on the location of the former Fantanele thermal power plant which has been dismantled.
August 1, 2014
Țuca Zbârcea & Asociații acts for Marubeni Corporation in a EUR 170 million investment project

Japanese company Marubeni Corporation and ELCEN have agreed to form a JV to build a 250 MW gas-fired electricity plant in the central Romanian county of Mures worth roughly EUR 170 million, they announced in a statement released on Tuesday, 29 July. 

Romanian independent outfit Țuca Zbârcea & Asociații has advised Marubeni Corporation, one of the largest and most profitable of Japan's unique and powerful “sogo shosha”, according to this statement. The legal team was led by Sorin Vladescu, Partner of Țuca Zbârcea & Asociații. [+]

Japanese company Marubeni Corporation and ELCEN have agreed to form a JV to build a 250 MW gas-fired electricity plant in the central Romanian county of Mures worth roughly EUR 170 million, they announced in a statement released on Tuesday, 29 July. 

Romanian independent outfit Țuca Zbârcea & Asociații has advised Marubeni Corporation, one of the largest and most profitable of Japan's unique and powerful “sogo shosha”, according to this statement. The legal team was led by Sorin Vladescu, Partner of Țuca Zbârcea & Asociații.

The Japanese company will control 90% of the newly formed company – SC Fantanele Gas Power SA – and it will bring an in-kind contribution of 30% to the share capital of the NewCo, with the rest stemming from loans. The NewCo will operate as an independent power producer (IPP) and would be connected to the grid in 2017. ELCEN will contribute with the land required for the development of the project and access to utilities.

“Fantanele is our first infrastructure investment project in Romania and we are delighted to have reached this development phase which is part of our long-term strategy towards playing a more significant role in the Central and Eastern Europe region,” said Hiroshi Tachigami, president of Marubeni Europower. “Marubeni Europower seeks to expand its presence in Romania and this pilot project demonstrates the stability, safety and functionality of an energy market that aims to become independent. We will make every effort to successfully complete this investment with our partners and are trustfully looking forward to having a close cooperation with the authorities involved in financing the project according to the specific international rules and standards,” he added.

Gabriel Ignat, general manager of ELCEN, Hiroshi Tachigami, president of Marubeni Europower, and other representatives from both companies and public authorities attended the contract signing ceremony taking place in Bucharest on 29 July. The investment project involves the development of electricity generation units fuelled by natural gas, on the location of the former Fantanele thermal power plant which has been dismantled.

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