NNDKP Successfully Assisted Enel in a Complex Fiscal Dispute

November 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) successfully represented ENEL (E-Distributie Banat) in a complex tax dispute relating to the possibility of the taxpayer deducting the value of tax depreciation for tangible assets (electricity grid connectors) acquired from the company’s clients through transfer, for the calculation of corporate income tax. Initially, tax authorities rejected this possibility based on the way in which the company acquired the connectors (free of charge) and considered the existence of accounting depreciation rules different from the tax depreciation…

NNDKP Assists International Game Technology PLC (IGT) in the Acquisition of iSoftBet

September 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) successfully assisted International Game Technology PLC (IGT), one of the global leaders in gaming, in a multi-jurisdictional transaction for the acquisition of iSoftBet, an online games supplier and content aggregator. The transaction included the jurisdictions of Cyprus, the Czech Republic, Malta, Romania, and the UK and the total deal value amounted to approximately EUR 160 million. NNDKP provided legal assistance with the Romanian law aspects regarding the local entity and was involved in all stages of the transaction, from…

NNDKP Assisted the Beverage Producers Alliance in Creating the Deposit Return System for Single-use Primary Packaging

August 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted, since June 2020, theBeverage Producers Alliance comprised of the Brewers of Romania Association and the Romanian Soft Drinks Association in setting up a deposit return system (DRS) for single-use primary packaging. The assistance also included establishing and obtaining the accreditation of RetuRO SGR as the sole administrator of the Romanian system. Over the past few years, NNDKP has advised the Beverage Producers Allianceduring all the preliminary activities regarding the implementation of DRS, including in relation…

De’Longhi Plans to Invest EUR 20 million in a Third Factory in Satu Mare

July 2022  Italian group De’Longhi, one of the most important players in the local production of electrical household appliances, which already owns two factories in Romania, in Cluj and Bihor counties, has recently bought a plant in Satu Mare and plans to invest EUR 20 million in this project.  

Sarom Packaging EUR 3.2 million New Investments

July 2022  Sarom Packaging, a company operating in the glass packaging and relevant consultancy market, has announced EUR 3.2 million in new investments for increasing its storage capacity and for opening new branches over the next four years, aiming to harmonize distribution flow elements and secure stocks. The company is already present in three countries apart from Romania, namely the Republic of Moldova, Bulgaria, and Hungary.  

Mercedes-Benz investment in Romania

August 2022 Mercedes-Benz is preparing a massive investment in Romania, worth nearly EUR 135 million, and has requested EUR 37 million in financial aid from the state for this purpose. In the spring, the group announced that it planned to develop some projects in Romania to switch to the production of components for electric vehicles, through major investments in the following period, according to the message transmitted to the Romanian authorities.

Medicines Manufacturer Antibiotice Iasi Plans to Invest EUR 40 million in two New Factories

August 2022 Medicines manufacturer Antibiotice Iasi plans to invest EUR 40 million in two new factories that could produce "made in Romania" sterile products and sterile topical products. Antibiotice has invested in the development of its portfolio in the export area in the past few years, and it plans to open a new production unit dedicated to ointments and topical products, a EUR 25 million investment, in the autumn of 2022.

NNDKP Assisted PepsiCo in Acquiring a Minority Shareholding in AQUA Carpatica

August 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) advised PepsiCo in the transaction to acquire a minority shareholding in AQUA Carpatica, the Romanian spring water brand owned by Carpathian Springs SA company, controlled by the businessman Jean Valvis. NNDKP assisted PepsiCo in all stages and in relation to all the legal aspects of the transaction, starting with the negotiation of the head of terms and continuing with the negotiation of the transaction documentation until signing and closing thereof, including in performing a lengthy and complex due diligence process. The…

NNDKP Assists Isosport in the Acquisition of Novo Tech Group Operating a Manufacturing Plant in Oradea

August 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Isosport, the world market leader in the field of plastic composite materials for the ski and snowboard industry, in a multi-jurisdictional transaction for the acquisition of Novo Tech Group, a leading manufacturer of high-quality plastic products. The transaction involved two production sites located in Poland and Romania (Oradea) which Novo Tech Group operates, with an additional sales location in Belgium. Through this deal, Isosport is strengthening its leading role as a market leader and industry specialist, with a growth…

Investment in Reactors 3 and 4 at Cernavoda has Received the Preliminary Approval

August 2022 Nuclearelectrica (SNN), controlled by the Ministry of Energy, decided the continuation of the project for the construction of units 3 and 4 of Cernavoda nuclear power plant and the transition to its second stage, consisting of preliminary works. The shareholders have also approved the initiation of procedures for awarding and concluding the contracts necessary to finalize the project, within the limit of EUR 185 million. Moreover, EnergoNuclear’s financing by its sole shareholder SNN with EUR 185 million, through a capital increase and/or a loan, was also approved.  

CA Immo Plans to Sell Its Portfolio in Romania

August 2022 CA Immo, an Austrian real estate company, plans to sell its portfolio of buildings in Romania, comprised of 7 office projects in Bucharest The total value of the portfolio is EUR 394 million, with a leasable area of 165,000 sqm. An Erste investment fund that also owns BCR bank is allegedly analyzing the acquisition of CA Immo offices in Romania.

NNDKP Assists ExxonMobil with Closing the Sale of Its Participation in Neptun Deep Offshore Project to Romgaz

August 2022 Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted ExxonMobil, one of the world’s largest publicly traded international oil and gas companies, with finalizing the last steps in selling to Romgaz its 50% participation in the Neptun Deep offshore block in the Black Sea. With the sale being materialized, this is one of most important M&A transactions in the energy sector ever rolled out on the local market that reshaped the oil & gas industry in Romania. NNDKP advised ExxonMobil in all stages of the transaction, covering the full range of legal aspects entailed by the…