International law firm CMS has advised OTP Group on the completion of the sale of OTP Bank Romania, OTP Leasing Romania, and other subsidiaries, to Banca Transilvania (“BT”). The transaction has recently received the approval of both the Romanian Competition… Read moreCMS advises OTP Group on completion of OTP Bank Romania sale to Banca Transilvania
On 22 July 2024, Romania enacted Law 232/2024, amending Advertising Law 148/2000 and Audiovisual Law 504/2002, which adds to the existing prohibition on advertising tobacco products by including the following: electronic cigarettes (including vape cigarettes), products for smokeless inhalation of… Read moreRomania enacts law restricting ads for electronic cigarettes and heated tobacco products
International law firm CMS is pleased to announce the promotion of Andrei Cristescu (Dispute Resolution) to Counsel as of 1 July 2024. Based in the firm’s Bucharest office, Andrei joined CMS as an intern in 2006 and has become a… Read moreCMS announces the promotion of Andrei Cristescu to Counsel in its Romania Office
On 8 July 2024, Romania published and adopted Law no. 214/2024 on electronic signature and trust. The Law, which will enter into force on 8 October 2024, aims to create a clear and predictable legal framework for the use and… Read moreRomania passes law expanding use of electronic signatures
International law firm CMS has won an important victory for electricity and gas producers in a landmark case concerning an access road built without the affected landowner’s consent. The ruling states that electricity and gas producing companies are not obliged… Read moreCMS secures landmark ruling for electricity and gas producers in Romania
International law firm CMS has advised Entek Elektrik Üretim A.Ş. (Entek), a Koç group company engaged in the energy sector, on the acquisition of two Romanian companies owning the rights, some of which are in the application process, to a… Read moreCMS advises Entek Elektrik Üretim on the acquisition of a 214.26 MWdc solar power project under development in Romania
International law firm CMS has advised Alcedo SRL (Alcedo), a subsidiary of the Japanese conglomerate Sumitomo Group, on the acquisition of Naturevo, a Romanian distributor of agricultural materials. Founded in 1990, Alcedo is a Romanian distributor of materials, services and… Read moreCMS advises Alcedo on the acquisition of Naturevo
On 19 June 2024, the Regulation (EU) 2024/1620 of the European Parliament and of the Council of 31 May2024 establishing the Authority for Anti-Money Laundering and Countering the Financing of Terrorism Authority (AMLA) was published in the Official Journal. AMLA… Read moreEU to create new anti-money laundering authority
International law firm CMS has advised Polish bank Alior Bank S.A. (Alior Bank), through its branch in Romania, on the sale of a portfolio of approximately 4,000 retail clients, to Romanian bank Patria Bank S.A. Founded in 2008 by an… Read moreCMS advises Alior Bank on the sale of a retail performing loan portfolio of approx. RON 97 million
International law firm CMS has advised Turkish steelmaker Agir Global (AGIR HADDECILIK A.Ş.) on the acquisition of 100% of the shares in the Steel Service Center Sidma Romania SRL, a subsidiary of Greek-based Sidma Group. The acquisition marks Agir Global’s… Read moreCMS and ACCESS advise Agir Global on acquisition of Romanian subsidiary of Sidma Group
