Radu și Asociații SPRL provided legal assistance to the Electrica group regarding the merger process through which Societatea de Distribuție a Energiei Electrice Transilvania Nord S.A. absorbed two other distribution companies within the group: SDEE Transilvania Sud S.A. and SDEE Muntenia Nord S.A. Following the merger, a single company continues to exist, respectively, Distribuţie Energie Electrică Romania S.A. (DEER). As of the 1st of January 2021, DEER offers services in 18 counties, in three geographical areas of the country, towards 3.8 million users. Thus, the new company becomes the most important national electricity distribution operator, with a coverage of 40.7% of Romania.
Radu și Asociații SPRL will continue to support the Electrica group also in the implementation process which will follow the effective date of the merger.
In the context in which Electrica S.A. is a company listed on the Bucharest and London stock exchange, having the Romanian state as the majority shareholder, the merger process of the three distribution companies becomes a landmark for the Romanian market, both in terms of importance for the economy and legal complexity .
Corina Popescu, General Manager of Electrica S.A.: “The merger project of the three distribution operators of the Electrica Group is a strategic and very ambitious one, which brings medium- and long-term benefits to all the stakeholders. We had on our side a team of experienced consultants, that helped us manage the multiple situations inherent in a process of such magnitude and importance for the Romanian energy sector.”
Radu și Asociații SPRL team was coordinated by Radu Diaconu (Partener) and Andrei Stefanovici (Director). The team also included Georgiana Nichita (Managing Associate, Corporate), Anca Atanasiu (Managing Associate, Employment), Claudia Grosu (Senior Associate, Corporate and Competition) and Alexandra Constantin (Senior Associate, Energy).
Radu Diaconu, Partner, Radu și Asociații SPRL: „We would like to congratulate the entire management team of Electrica for the successful completion of the merger concerning the three companies, in a project of major importance for the Electrica group and for the energy sector in general.”
Andrei Stefanovici, Director, Radu și Asociații SPRL: “We are proud to have assisted Electrica during the first stage of the merger process and we trust that we can significantly contribute during its implementation process.”
About Radu și Asociații SPRL
Radu și Asociații SPRL is a Romanian full-service law firm, offering both legal advisory services and assistance before the courts of law, with a significant tax policy and controversy (TPC) practice.
Radu și Asociații SPRL is a member firm of Ernst & Young Global Ltd and part of the expanding EY Law global network, which has more than 2,400 lawyers and offices in over 80 countries.
Our expertise has been recognized by the market and international firm directories. Chambers Global 2019 has recognized our Corporate/M&A practice while Chambers Europe 2019 and 2020 have placed our Tax Policy and Controversy practice on Band 1. The Legal 500 Europe, Middle East and Africa 2019 and 2020 have also ranked our Commercial, Corporate/M&A practice, while the 2020 edition placed our Tax Policy and Controversy practice on Tier 1.