Țuca Zbârcea & Asociații | NEWS & EVENTS
10 April 2008

Top banks in Romania seal EUR 350 million deal with Țuca Zbârcea & Asociații as sole legal adviser

Țuca Zbârcea & Asociații announces the completion of the transaction for the sale of 100% of Romanian insurer Asiban S.A., one of the top Romanian life and non-life insurance companies.

BRD – Société Générale, Banca Comercială Română (BCR), Banca Transilvania (Romania’s 4th largest bank in terms of total assets) and Casa de Economii și Consemnațiuni – CEC (the Romanian savings bank) have signed the agreements for the acquisition by Groupama International of the entire share capital in Asiban.

Țuca Zbârcea & Asociații acted as sole legal advisor on behalf of the selling shareholders and the company while Rothschild & Cie served as exclusive financial advisor to the four selling shareholders and the management of Asiban SA in connection with the transaction.

Our services included, inter alia, advice on corporate, capital markets and regulatory aspects that concern the transaction (including assistance with regard to the reporting obligations vis-à-vis the Insurance Supervisory Commission, the National Securities Commission and the Bucharest Stock Exchange), preparation of the vendor legal due diligence, preparation of the Data Room, preparation of the discussion draft of the Share Purchase Agreement and negotiation of the subsequent marked-up drafts, as well as preparation and review of other incident transaction documents.

A team of 15 lawyers, led by Managing Partner Florentin Țuca, also including Dragoș Apostol has contributed to the successful outcome of the project, which lasted over 9 months.

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