The Romanian economy is governed by both European Union and national competition regulations, the latter being carved out to a large extent in line with the EU framework.
Moreover, Romanian competition authorities are actively and constantly monitoring the markets, being a prominent presence in terms of investigations, clearances and regulatory activity.
Due to the substantial amount of the fines applied by the competition authorities as well as the bearing/impact of related measures, businesses have gradually started to accept that competition should play a key role in every corporate compliance system, that proper competition assessments should precede any move that is likely to trigger concerns from this perspective and that executive staff should receive proper training in order to be able to determine the situations calling for such assessments as well as major red flags to be avoided.
In order to help our clients tackle competition aspects swiftly and efficiently, our lawyers are prepared to assist with the whole range of competition matters, irrespective of the concerned industry (telecommunications, pharmaceuticals, FMCG, technology, retails, financial institutions, etc), spanning merger control assessments, notifications and clearance, assessments aimed at identifying regulatory risks in terms of anti-competitive agreements and abuse of dominant position.
Our lawyers will also assist with potential solutions and the whole range of proceedings before the relevant competition authorities including dawn raids, training sessions with the clients’ compliance team, as well as the drafting of compliance programmes and assistance concerning complex state aid matters.
Highlights of the assignments that have been handled by our lawyers throughout their practice include advice and representation to:
- One of the largest mobile phone manufacturers, with regard to state aid matters entailed by the construction of its manufacturing facility in Romania, including relevant exchanges with the European Commission and the Romanian Competition Council
- Several subsidiaries of multinational companies with regard to the reviewing, updating and implementation of the competition compliance programmes, dawn raids and training sessions on the same
- A major European utility provider, with regard to the whole range of competition issues triggered by the acquisition of a Romanian utility company
- A major European investor, in connection with all competition matters arising out of the acquisition of three freight wagons manufacturing businesses, as well as state aid matters pertaining to the post-acquisition development of various businesses
- A private-equity fund, in connection with all competition aspects raised by the various acquisitions of targets made in several sectors of the economy
- Several pharmaceutical companies, in relation to a sector investigation initiated by the Romanian Competition Council and the court files pertaining thereto
- A UK-based pharmaceutical company, with regard to all competition matters following a business spin-off
- A large US-based pharmaceutical company, in connection with a plethora of competition issues triggered by three cross-border acquisitions
- A European bank, with regard to numerous competition matters concerning the acquisition of a Romanian bank.
- A large network of pharmacies, with regard to various competition aspects entailed by their day-to-day activity
- A large number of clients, with regard to the adjustment and clearance of various contractual clauses and mechanisms raising potential competition concerns
- A cable TV provider, in connection with the assessment of a potential abuse of dominant position perpetrated by its competitor
This material has been sourced from the Jinga Maravela website.
Briefings from Jinga Maravela
This newsletter sets out in chronological order the main tax news/amendments published in the period of 1–31 January 2014.
Jinga Maravela looks at four recent legal rulings, including the updating of the national minimum gross wage and the postponed entry into force of the Civil Procedure Code.