Following the adoption of EGO no. 82/2023 by the Romanian Government on 26 October, the President of the National Office for Gambling (NOG) issued Order 181/2023, which concerns the approval of conditions for the merger process, spin-offs, or the transfer… Read moreRomania issues new regulations for business transfers by licensed online gambling operators
On 27 October 2023, Law no. 296/2023 regarding tax-budgetary measures to ensure Romania’s long-term financial sustainability was published in the Official Gazette and consists of significant amendments to the Tax Code and other normative acts. For a detailed summary of… Read moreRomania implements a large package of tax measures
International law firm CMS has advised Ahold Delhaize (“Ahold Delhaize”) on its agreement to acquire leading Romanian grocery retailer Profi Rom Food S.R.L. (“Profi”) from MidEuropa, in a transaction worth approximately EUR 1.3bn. This deal is set to add more… Read moreCMS advises Ahold Delhaize on the landmark acquisition of Profi Rom Food in Romania
Romania’s Emergency Government Ordinance no. 82/2023 (EGO no. 82/2023), which was adopted on 5 October and amends Emergency Government Ordinance no. 77/2009 on the organisation and exploitation of games of chance, brings significant tax increases, not only for online gambling… Read moreSignificant tax increases for gambling operators in the Romanian market
The Romanian Competition Council (RCC) recently released a joint study (the “Study”) by the RCC and the Romanian National Regulatory Authority in the Energy Sector (ANRE) showing that market entry for producers of electricity from renewable energy sources (RES) is… Read moreRomanian Competition Council identifies barriers to market entry of renewable electricity producers
As previously announced (see Romania issues draft Emergency Ordinance that could significantly impact gambling industry (cms-lawnow.com), on 5 October 2023 the Romanian Government adopted Emergency Government Ordinance no. 82/2023 (“EGO no. 82/2023”), amending Emergency Government Ordinance no. 79/2009 on the… Read moreRomania changes rules for online gambling operators
• 43% of dealmakers predict a decline in European M&A activity over the next 12 months, whilst 35% foresee an increase, with private equity dealmakers displaying heightened optimism. This time last year, 73% of dealmakers forecasted an increase in activity…. Read moreTurning the corner? CMS European M&A Outlook 2024. Dealmaking expectations mixed amidst economic uncertainty, but private equity notably bullish
International law firm CMS has advised private equity and growth capital investments firm Integral Venture Partners (“Integral”) on entering into a definitive agreement for the acquisition of a majority stake in Romanian-based O’Fresh Vending Solutions (“O’Fresh”), a leading provider of… Read moreCMS advises Integral Venture Partners on the acquisition of a majority stake in O’Fresh Vending Solutions in Romania
On 31 August 2023, the Romanian government passed emergency Government Ordinance (GEO 2023), which extends by 90 days the validity of the insurance policies issued by Euroins Romania Asigurare-Reasigurare S.A., which is now in bankruptcy. Prior to the issuance of… Read moreRomania extends insurance policies from Euroins Romania to avoid market consequences
A recent draft legislative proposal initiated by the Romanian government is generating serious concerns due to the significant changes recommended by the proposal. The prospective changes are intended to address Romania’s increasing budgetary deficit (currently at 2.33% of GDP, but… Read moreRomania expects significant changes to its gambling legislation
