CMS Cameron McKenna and Romanian firm Nestor Nestor Diculescu Kingston Peterson (NNDKP) netted lead roles on Romania’s largest acquisition to date, worth €3.75bn (£2.6bn), which completed today.
Camerons’ regional head of corporate Helen Rodwell led advice for longstanding client Erste Bank on its acquisition of 61.89 per cent of shares in Banca Comerciala Romana (BCR). This effectively privatises Romania’s largest bank, which has assets over 7bn (£4.7bn).
NNDKP named partner Ion Nestor led for the Romanian state, as the firm has undertaken ongoing work for the Authority for Privatisation and Management of the State Ownership.
Rodwell is the client relationship partner for Erste Bank and told The Lawyer that Camerons has acted for all of the bank’s regional acquisitions, most recently the €27m (£18.2m) acquisition of Ukraine’s Bank Prestige.
Nine European banks originally competed for the acquisition of BCR. Portuguese Millennium BCP was an unsuccessful bidder.