Musat & Asociatii
Musat & Asociatii was founded in the early 1990s as one of the first law firms in Romania, being at the forefront of the country’s legal and business development, anticipating the evolving needs of its clients and, many times, acting as a pioneer in the field. The law firm provides ground-breaking work by launching new areas of practice and also being involved in the biggest transactions for the local market.
Presently, the firm has 16 partners and more than 100 dedicated attorneys, a high-profile portfolio of more than 2,500 clients, including leading national and international companies, as well as governmental authorities and agencies, financial institutions and investment funds.
Musat & Asociatii provides legal support in all areas of business law, including mergers and acquisitions, privatisation, litigation and commercial arbitrations, banking and finance, energy and natural resources, competition and antitrust, IP (through our specialised division: Musat & Asociatii intellectual property), corporate, telecommunications and IT, labour, fiscal (through the specialised team of certified tax advisors: Musat & Asociatii tax advisory), capital markets, real estate, environmental law, PPP, healthcare, insolvency and restructuring (through the dedicated division Musat & Asociatii restructuring and insolvency), shipping and aviation, and insurance.
Eighty per cent of the firm’s portfolio of clients comprises foreign investors such as: Enel SpA, GDF Suez, Colas, European Investment Bank, RBS (Royal Bank of Scotland), ING Bank, Fortis Bank, KBC Bank, Raiffeisen Bank, BNP Paribas, OTP Bank, Eli Lilly, GlaxoSmithKline, Novartis, Roche, Abbot, General Electric, General Motors, Microsoft, Intel, Oracle, Google, AON, Amazon.com, AT&T, Nokia, Alcatel-Lucent, Telecom Italia, Thyssen Krupp, Generali, AFI Europe, Electrolux, Caterpillar, Monsanto, Deutsche Bahn, SAB Miller, Sterling Resources Ltd Canada.
Our commercial approach to transactions and the in-depth understanding of the client’s commercial goals have been recognised by legal publications such as Chambers & Partners, Legal 500 and International Financial Law Review. They placed us at the top of the rankings, considering Musat & Asociatii to have undisputed leadership on the Romanian legal market.
Recent relevant projects assisted by Musat & Asociatii
- Sterling Resources Ltd, a worldwide company engaged in the exploration, development and production of crude oil and natural gas in selected areas of the world, on the negotiation signing of a sale-purchase agreement with ExxonMobil Exploration and Production Romania Limited and OMV Petrom SA for the sale of its 65 per cent interest in the deep water area of Block 15 Midia in the Romanian Black Sea; as part of the same agreement, Sterling’s partner, Petro Ventures Europe BV, has also transferred its 20 per cent interest in the same portion of Block 15 Midia.
- Advising Nokia in connection with the divestiture of its €60m investments at the Jucu plant in Romania and the sale of the manufacturing facility to the household appliances producer De’Longhi.
- Advising Raiffeisen Bank International in connection with a €71.5m loan facility granted to Bucuresti Turism, owner of Radisson Blu — five star hotels in Bucharest and Centre Ville — elite hospitality complex.
- Advising Grupo Lar, a leading Spanish real-estate developer, in connection with multiple real estate developments in Bucharest and Cluj, with an investment value in excess of €300m.
- Assisting Eldorado Gold Corporation (a gold producing, exploration and development company) during its cross-border acquisition of European Goldfields Limited (a developer-producer with significant gold and base metal deposits in Greece and Romania). The acquisition was effected by way of a plan of arrangement under the Yukon Business Corporations Act. The total transaction value was approximately $2.5bn.
- Successfully acting for Thyssenkrupp in relation to one of the most complex international litigation in Romanian courts (claim value: $50m), arising from the sale and purchase of steel during the communist political regime.
- Retained by Orange Romania (the leading local telecommunications player), in view of supervising, as monitoring agent appointed by the Competition Council, the enforcement and implementation of the commitments undertaken by Orange Romania and its distributors on the pre-paid products and services market in Romania.
- Assisting Mid Europa Partners, a leading independent private equity investment firm focused on Central and Eastern Europe, in connection with the acquisition of a 50 per cent interest in Walmark AS and its subsidiaries.
- Assisting the Ministry Of Economy and the Office Of State Privatization And Industry (Opspi) in connection with the secondary public offering on the Bucharest Stock Exchange for selling 15 per cent of the shares held in Transelectrica (the Romanian National Electricity Transmission Company), which was oversubscribed and successfully closed on 28 March 2012. Following this offering, the state received €37.7m.
- Successfully assisting the Ministry Of Economy and the Office Of State Privatization And Industry (Opspi) in connection with the secondary public offering on the Bucharest Stock Exchange for the sale, by the Romanian State, of 15 per cent of the shares held in TRANSGAZ (the Romanian National Gas Transmission Company). The offering was closed on 20 April 2013 (sale value: €72m).
- Advising Enel Green Power during the acquisition of three renewable projects (wind power plants), with a total installed capacity of 310MW.
Awards and achievements
- National Law Firm of the Year 2013, IFLR 1000
- Gold Award for Best Central and Eastern Europe Law Firm 2012, granted by International Legal Alliance Summit & Awards 2012
- National Law Firm of the Year 2011, IFLR 1000
- Romanian Law Firm of the Year 2011 awarded by Chambers Europe
- Client Choice Awards in Competition, the International Law Office (ILO)
Analysis from The Lawyer
Romania is bursting with resources but tapping into those riches is proving to be a political obstacle course