Two small Spanish law firms have made the first Iberian foray into the Romanian legal market via a three-way merger with a small Romanian firm.
Madrid-based Muniz Bernuy Abogados and Balms Abogados have merged, along with Bucharest-based Mares Mihai Law Offices.
The new firm will be known as Muniz Bernuy Balms & Mares. Romanian partner Mihai Mares has been named managing partner of the firm, which will have three partners and five associates in total.
Mares said: "Our target is to become one of the top 10 law firms in Romania by turnover in the next five years.
"Our clients are financial institutions and banks, real estate investment funds and energy companies, paying special attention to the Spanish investments in Romania, but we also have clients form Austria, Germany and the USA."