A integrated team of consultants specialized in transactions of PwC Romania and D&B David and Baias has provided assistance to Arion Green Felix for the acquisition of Global City office buildings, located in Pipera, from Global City Business Park, at the end of April.
Cornelia Bumbăcea, PwC Romania Partner: “The completion of this transaction is an important one for the M&A market, which has slowed down, in the context of the crisis generated by the COVID-19 pandemic. The year had started with a large number of transactions in various stages of negotiation, some of which we successfully completed and others were postponed due to the uncertainties created by this global crisis. But it is a signal that, although the market conditions are unusual, there are investors looking for opportunities and sectors more or less resistant to the crisis.”
PwC Romania and D&B David and Baias provided financial, tax and legal assistance to the buyer throughout the transaction. The services included due diligence on all three levels, as well as assistance in drafting and negotiating the transaction documents. The transaction was signed last week.
Georgiana Bălan, Head of Real Estate at D&B David and Baias: “We are glad that we managed to conclude during this period one of the largest transactions in the real estate sector on the Romanian market. It is also the largest transaction in which D&B David and Baias have provided legal assistance in the last year. The success of this project was based on the excellent collaboration between the teams involved and the promptness of colleagues from various practice areas, who responded in extremely short terms to sensitive issues raised by the client.”
PwC Romania team was represented by Cornelia Bumbăcea, Partner, Diana Coroabă, Partner, Andreea Bistriceanu, Senior Manager, Inge Abdulcair, Director, Monica Ardelean, Tax Manager and Oana Dusu and Ramona Curta, Senior Associates.
On behalf of D&B David and Baias, PwC‘s connected law firm in Romania, were involved Anda Rojanschi, Partner, Georgiana Balan, Managing Associate and Head of Real Estate, Romana Petre, Senior Associate, Alice Spridon and Carmen Cretu, Associates, Iulian Ursache and Larisa Jurcă, Junior Associates.
The transaction also benefited by the assistance of PwC Greece and A.S. Papadimitriou & Partners, one of the most reputable law firms in Greece.
Global City comprises two Class A office buildings, with a gross leasable area of 55,000 square meters.
The seller was assisted by Patriciu SCA, the team being coordinated by Șerban Patriciu, Managing Partner.
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About D&B David and Baias
D&B David and Baias is PwC‘s connected law firm in Romania, being integrated into PwC‘s international network of corresponding law firms, which includes over 2,500 lawyers from 85 jurisdictions. Thus, D&B benefits from both in-depth local expertise and an international perspective.
D&B is recognized and recommended by independent international guides such as Chambers & Partners, Legal 500, IFLR 1000 and Best Lawyers, being located at the top of the rankings on Romanian law firms in the areas of practice Corporate Law – Mergers & Acquisitions (M&A), Competition & Anti-competitive practices, Tax Law and others.
On the local market, D&B together with PwC provides services to customers in Romania and the Republic of Moldova, through the network of 5 PwC offices located in Bucharest, Timisoara, Cluj-Napoca, Constanta and Chisinau.