We grew alongside postcommunist Romania. For over three decades, we are continuously involved in the largest national and regional business transactions and projects, anticipating clients’ needs and always being one step ahead of legislative challenges.
Our story proves that tradition and innovation work perfectly together. In 1990, lawyer Gheorghe Mușat founded Mușat & Asociații together with three partners, and by the end of that year the new firm already had 8 lawyers and was considered one of the most dynamic players in the area of business law.
Three decades followed in which both Romania and our firm experienced exponential growth, but also changes and challenges brought by the business environment. During this time, Mușat & Asociații was part of the largest transactions, investments and strategic projects carried out by companies from all sectors of the economy – financial&banking, energy, infrastructure, pharmaceutical and medical, transport, technology, capital markets, real estate and construction, aviation and many others – in mandates such as M&A, competition, public procurement, intellectual property, litigation, arbitration, employment law, taxation, commercial and corporate law, restructuring and insolvency and criminal law, many of which regional or international.
We assisted large US and EU companies that have invested in Romania, most of them listed in Fortune 500. We have also advised and represented the Romanian state in the largest privatization mandates on the local market in strategic sectors such as energy, aviation and natural resources.
Currently, Mușat & Asociații is one of the leaders of business law, with over 100 lawyers. Large national and international companies are our clients, the firm being recognized by the legal directories Chambers & Partners, Legal 500 or IFLR as one of the top law firms in Romania.
We have built and developed teams of experts in each practice area, offering full-service legal assistance to our clients and handling the most complex mandates. We are strategic partners of our clients as we understand their business, know the importance of achieving their objectives and constantly anticipate the legal risks in the markets in which they operate.
We rely on vision and on a deep knowledge of legislation and of the business environment. With each stage in Romania’s development, we open a new chapter in the history of Mușat & Asociații, and in all the chapters we write, we redefine the standards of excellence in business law.
Gheorghe Muşat (acting litigation lawyer since 1983) starts his activity as a business legal adviser alongside two younger lawyers under the brand name “Muşat & Associates”; by the end of that year, his “boutique” gathered eight lawyers, most of them young practitioners, being regarded as one of the most dynamic business law practices on the Romanian legal market.
Advising a portfolio of high profile foreign corporations, such as Societe Generale, Rhone-Poulenc (currently Sanofi Aventis), Cement Francais, Renault, Bouygues, Credit Lyonnais, American International Group (A.I.G.), AT&T, Standard Oil, British Petroleum etc. on their investments & business ventures in Romania.
Acting as lead legal advisor to Shell (U.K.) and Shell Exploration Romania in connection with the implementation of the first oil exploration agreement concluded by Romania with a foreign investor as well as with regard to other Shell’s investments in Romania.
The launch of the first edition of the legal guide “Doing Business in Romania”, which has reached its twentieth edition.
Assisting Glaxo Smithkline Beecham in the successful acquisition of Europharm Group, the first high profile private transaction in Romania (valued at EUR 100 million).
Retained by the Romanian Government as lead legal advisor for the privatization of S.N. Petrom S.A. to a strategic investor.
Acting as lead legal counsel to GE Capital in connection with the acquisition of Banc Post, the first privatization of a Romanian bank.
Assisting Sumerbank (Turkey) and Akmaya (a leading Turkish oil corporation) in relation to the acquisition of S.C. Petromidia S.A. (the largest Romanian oil refinery).
Selected by the Romanian Government as lead legal advisor in relation to the proposed privatization of TAROM (the national airline company of Romania).
Assisting the Romanian Privatization Authority (FPS), in connection with the sale of Banca Agricola to Raiffeisen Bank, in a transaction which was acclaimed by the World Bank as the most successful privatization of the year.
Selected by the World Bank as lead Romanian legal advisor for restructuring the bad loans of Bancorex (valued at EUR 1,5 billion).
Advising Michelin on the takeover of the Tofan Grup, regarded by the business community and the local business media as the largest private transaction of the year.
Assisting EBRD (European Bank for Reconstruction) and IFC (International Finance Corporation) in connection with various investments and financing facilities provided to diverse Romanian companies.
Acting as lead legal counsel to Arcelor Mittal (former Mittal Steel) in connection with the EUR 800 million successful acquisition of Sidex Galati (the largest Eastern European steel producer), which was awarded as the largest privatization/acquisition of the year.
Advising Eurocopter (France) on its investment projects in Romania and related joint-venture agreements with the Romanian aviation entities.
Advising the Romanian Government in connection with the successful privatisation of Alro S.A. – Slatina and Alprom S.A., the leading national aluminium producers.
Acting for Suez Lyonnais des Eaux (a leading French utilities company) in relation to the joint venture with Bucharest Municipality for Crivina Project and respectively with Timisoara Municipality for Acquatim Project.
Muşat & Asociații changes its headquarters to 43 Aviatorilor Blvd, a modern A-class building specifically designed for a team of over 100 lawyers and 60 support staff.
Acting as legal advisers of Arcelor Mittal (former Mittal Steel) in connection with the acquisition of three leading national steel producers, namely Siderurgica S.A. – Hunedoara, Petrotub S.A. – Roman and Tepro S.A. – Iasi (the second largest acquisition of the year).
Advising Cora (the leading French retailer) on various acquisitions and project investments.
Assisting SBS Broadcasting on the successful acquisition of Prima TV, and of the leading Romanian FM radio stations: Kiss FM, Radio Star, Canet Radio, TV Klumea etc., so far the largest media acquisitions ever conducted in Romania.
Acting as lead legal advisor to Occidental Oil & Gas Corporation (a leading U.S. oil corporation) in connection with the attempted acquisition of S.N. Petrom S.A.
Advising Enel (Italy) on the successful acquisition of Electrica Dobrogea and Electrica Banat, the first privatization of electricity distribution companies in Romania.
Successfully representing / defending Romania in the first ground-breaking investment arbitration (with claims of over EUR 350 million) against Noble Ventures U.S., before The International Center for the Settlement of Investment Disputes (ICSID).
Advising Sider Sipe S.A. (Italy) on the EUR 120 million sale of Ductil Steel Buzau SA to a leading European investor (the second largest acquisition of the year).
Assisting KBC Bank (Belgium) in connection with the EUR 75 million acquisitions of Romstal Leasing IFN S.A. and of Swiss Capital S.A. as well as in connection with the attempted acquisition of BCR (Romanian Commercial Bank).
Assisting Enel (Italy) in connection with the EUR 820 million acquisition of Electrica Muntenia Sud (acclaimed as the third largest privatization ever conducted in Romania).
Retained by AFI Europe as lead local adviser in respect of the EUR 78 million successful acquisition of New Century Holding in Cotroceni Park (the company developing AFI Palace Cotroceni, with an investment value in excess of EUR 300 million).
Advising PPF Partners (a major pan-European investment fund) in connection with the acquisition of S.C. Continental S.A. and other acquisitions, amounting to over EUR 200 million, as well as in connection with the EUR 62 million successful acquisition of Gaz Sud SA.
Acting for Nokia Corporation (Finland) in relation to the implementation of “Jucu Greenfield project” regarding the relocation of Nokia’s production facility from Germany to Romania (acclaimed by the local business media as “largest Greenfield investment of the year”).
Assisting Banca Transilvania in connection with the EUR 100 million sale of the majority stake held in BT Asigurari to Groupama (France), which was awarded by the business local media as the largest transaction of the year in the insurance industry.
Acting for the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) as lead local counsel in connection with the EUR 700 million loan facility granted to the Municipality of Bucharest and Metrorex for infrastructure rehabilitation and urban development.
Assisting Rompetrol Group NV in connection with the EUR 90 million acquisition of the remaining free float of Rompetrol Rafinare S.A., the most successful mandatory public offering of the year conducted on the Bucharest Stock Exchange.
Successfully acting for ThyssenKrupp in relation to one of the most complex and long lasting international litigations before the Romanian courts (claim value: USD 50 million), arising from the sale and purchase of steel during the communist regime
Retained by the Romanian Government (the Ministry of Economy) as lead legal advisor in connection with the EUR 1.3 billion construction of the Tarnita-Lapustesti Hydropower Plant, with a forecasted installed capacity of 1,000 MW.
Muşat & Asociații was awarded the “National Law Firm of the Year” by the International Financial Law Review (IFLR), as well as the “Romania Law Firm of the Year”, by Chambers Europe (Chambers Awards for Excellence 2011).
Retained by the Ministry of Economy in connection with the sale by the Romanian State of 15% of the shares held in Transgaz, as well as the sale of 15% of the shares held in Transelectrica, with a total transaction value in excess of EUR 109 million (the largest capital markets transactions of the year).
Assisting the Ministry of Transports in relation to the proposed privatisation of CFR Marfa S.A.
Retained by Colas (the world leading construction company) to provide legal assistance and representation in a complex ICC international arbitration against CNADR (the National Company of Highways and Roads) with a claim value in excess of USD 95 million.
Muşat & Asociații received the “Gold Award” for “Best Central and Eastern Europe Law Firm 2012” granted by International Legal Alliance Summit (Paris 2012).
Selected by the Ministry of Economy to provide legal assistance for the sale of 10% of the shares in Nuclearelectrica on the capital market (IPO), successfully closed for a transaction in excess of EUR 70 million (the largest capital market transaction of the year).
Muşat & Asociaţii secured a fully successful arbitration award by defending Enel in ICC international arbitral proceedings, with claims amounting to USD 59 million.
Muşat & Asociaţii won for the second time the Award „The Law Firm of the Year in Romania” (2013) granted by the International Firm Law Review (IFLR).
Muşat & Asociaţii was selected to provide legal advice to Electrica SA in relation to the sale (IPO) of the 105% share stake in DFEE Electrica with a transaction value of EUR 440 million (the biggest capital market transaction ever conducted in Romania).
Advising Enel on the (attempted) sale of its Romanian subsidiary Enel Muntenia S.A., Enel Banat S.A., Enel Dobrogea S.A. and Enel Energie S.A.
Acting for Sterling Resources Ltd. in connection with the transfer of its 65% interest in the offshore Block 15 Midia (Black Sea) to ExxonMobil Exploration and OMV Petrom SA.
Acting as lead local counsel to CRH (Ireland) in relation to the acquisition of Lafarge Romania (part of a global deal of EUR 6.5 billion) recognised by Ziarul Financiar as the largest transaction of the year in Romania.
Advising the Romanian Government (in consortium with UBS – U.K.) in connection with the sale of the 46% share stake held by the Romanian State in Telekom Romania (former Romtelecom).
Representing Enel in the most complex ICC international arbitral proceedings ever conducted against a Romanian company with claims in excess of EUR 900 million.
Muşat & Asociaţii celebrates 25 years of excellence in the legal profession, being acclaimed by clients, media and peers alike for its professional standards and contribution to the Romanian legal practice.
Advising Ciech S.A. and its local subsidiary Ciech Soda Romania S.A. (one of the largest firms in the chemical sector in Europe), in connection with the EUR 373 million bank credit facility financing for Ciech S.A. to refinance its existing debt, consisting of high yield bonds (with a value of EUR 245 million), revolving credit facilities and financing of working capital needs.
Successfully acting for the President of Romania in a complex court litigation with A.N.I. (The National Integrity Agency).
Assisting Premier Capital PLC on the acquisition of McDonald’s local operations, a transaction that involved the team in all the stages of the acquisition process – both in negotiations conducted by Premier Capital with McDonald’s, and those with the bank financing a part of the acquisition price, BRD-Groupe Société Générale.
Assisting Emerson (a world leader in the field of production and technology) in connection with the acquisition of Leroy –Somer and Control Techniques divisions by Nidec Corporation, a transaction value of approximately USD 1.2 billion.
Assisting Penta Investments (a leading European pharma distribution company) on the EUR 300 million successful acquisition of A&D Pharma (the leading pharma distribution in Romania), with a network of +600 pharmacies, which was awarded by the business media as the largest private transaction of the year.
Assisting Damen Shipyards Group in connection with the acquisition from Daewoo Shipbuilding & Marine Engineering of one of the biggest shipyards in Romania with over 2,000 employees and a turnover exceeding EUR 500 million. The mandate envisaged unique characteristics, involving negotiations with both the selling company and the other shareholder of the target (a state-owned company), as well as with the Ministry of Economy and the Romanian Government.
Successfully representing the Prime Minister of Romania in a criminal law case involving alleged illegal financing of the election campaign.
Assisting Spectrum Brands Unit, a $5 billion consumer products company, in connection with the USD 2 billion sale of its global battery and portable lightning business to Energizer Holding Inc., one of the world’s largest manufacturers of primary batteries and portable lighting products.
Assisted J.P. Morgan on a multi-jurisdictional EUR 475 million financing through bilateral and capital markets instruments, between, among others, J.P. Morgan Securities as arranger and bookrunner and the Pepkor group (as borrower), the largest non-food retail chain in Central and Eastern Europe.
Assisting Rhône Capital, a multi-billion-dollar private equity fund, and its affiliate Wellbore Integrity Solutions, on the USD 400 million acquisition of the drilling businesses and associated assets of Schlumberger, the world’s leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry.
Representing Damen Schelde Naval Shipbuilding B.V. (the military shipbuilding division of Damen Group) before the Romanian Courts in a public procurement dispute aimed at cancelling an EUR 1.26 billion military public procurement contract for the acquisition of corvettes.
Representing BCR Banca Pentru Locuințe (a member of the Erste Bank group), in an EUR 300 million regulatory dispute with the Romanian Court of Accounts, before the High Court of Cassation and Justice, concerning the implementation of the Bauspar system in Romania.
Muşat & Asociaţii celebrates 30 years of excellence in the legal profession, acclaimed by clients and peers alike for its professional standards and contribution to Romanian legal practice.
Assisting Ecolab, one of the world leaders in the field of water, hygiene and infection prevention solutions and services, regarding the Romanian legal aspects of the strategic acquisition of Purolite Corporation. Valued at approximately $3.7 billion, the transaction involved approximately 30 jurisdictions on six continents.
Assisting the giant Google LLC in connection with the USD 2.1 billion acquisition of Fitbit.
Advising Swiss construction chemicals group Sika AG on the EUR 5.3 billion acquisition of Master Builders Construction Chemicals (MBCC) from Lone Star Funds, an international firm with private capital. The transaction also involved the sale of MBCC’s concrete admixture business to international private equity investor Cinven.
Legal assistance for the syndicate of banks formed by Jefferies Finance LLC, J.P. Morgan and Danske Bank A/S, as creditors, regarding the legal aspects of Romanian law that involved the Romanian company BFG Packaging SRL, in the framework of financing worth EUR650 million of the multi-jurisdictional acquisition of four companies in the business-to-business (“B2B”) distribution market by certain entities controlled by FSN Capital, a leading private equity firm in northern Europe.
Legal assistance for the CATTED group, active in the real estate sector in Romania, in the financing granted by Libra Internet Bank, for the development of the CATTED Family residential project.
Legal assistance for Magna International Inc. regarding the completion of the acquisition of Veoneer’s active safety division from SSW Partners. The two combined businesses are expected to generate sales of more than USD 3 billion in 2024.
Legal assistance to Geely Holding Group and Geely Automobile Holdings Limited (“Geely”) on the 50/50 joint venture agreement with Groupe Renault to launch a new propulsion technology company which aims to become a world leader in the development, manufacture and supply of the best hybrid powertrains and high efficiency ICE powertrains. Muscat & Associates assisted Geely in all activities related to Romania, from an extensive due diligence legal analysis, corporate, real estate, labor and environmental aspects to the structuring and closing of the transaction.
Advising Naxxar Renewable Energy on the sale of Naxxar Wind Farm Four SRL (NX4 – the project company) to Polenergia, the largest private energy group on the Polish market.
Assisting Romgaz, Romania’s largest State-owned gas producer, in the implementation of an EMTN program with a total value of EUR 1.5 billion and the issuance of the first tranche of bonds worth EUR 500 million, one of the most complex projects carried out on the capital market.
Our challenge is to be successful by meeting and exceeding the needs of our clients. Hence, every division of our practice is client focused. We foster a team approach to client service through open communication and integrity and strive to bring strategic solutions to the ever-increasing complexity of clients’ business objectives.
Teamwork is the most important ingredient to every success. Our team conducts itself according to the highest standards of ethics and collegiality, sharing knowledge and delivering services at best-practice standards. At Muşat & Asociaţii, we emphasize that excellent results can only be achieved while responding immediately and effectively to clients’ needs.
We commit ourselves to offering a top-quality client service and maintaining best practice systems. We provide wide ranging legal services mixing together knowledge, skill, loyalty, creativity, responsiveness, perseverance and care in the most reliable and upright manner. We recognize that controlling and constantly seeking ways to improve our value, effectiveness and efficiency are vital for our continuous success.
Sound business growth is an essential part of our management policy. We are confident in our future and constantly aiming at maintaining a solid and professional team basis, diversifying our legal services, identifying new opportunities, nurturing new capabilities and skills. Our future-oriented leadership process is designed to achieve the quality level our clients expect from us.
We take pride in our high-profile portfolio of clients, including international and national privately and publicly owned companies, operating in the main areas of business and industry, government authorities and agencies, major banks, financial institutions and investment funds.
We are dedicated to taking our clients towards their commercial goals by providing innovative legal advice, customized for the clients’ immediate and long term needs. In our daily work we are guided by our commitment to keep clients properly informed and fully abreast with their legal options to enable them to take the soundest business decisions.
We understand that our clients are not only looking for theoretical reviews, but want practical advice that will bring value to their businesses. That is why we deliver practical solutions meant to solve our clients’ issues in a timely manner, offering our clients valuable alternatives to their legal and business problems.
At Muşat & Asociaţii we praise results that can provide genuine value to our clients. We endeavor to provide seamless services, by being always focused on practical and effective solutions, regardless of the complexity of the problems our clients face every day.
We are uncompromisingly dedicated to achieving professional excellence in every undertaken task. Our strength comes from a culture in which everyone is encouraged to contribute his best talents. We endeavor to be the firm of choice for the clients when they are confronted with the most challenging topics.
Our lawyers adhere to uncompromising standards of integrity in dealing with all matters they are advising on.
Among our lawyers, commitment towards the client is a unity of purpose and a professional endeavor. Our dedication and commitment towards our clients’ goals enable us to successfully represent clients in the most challenging environments.
With 17 partners and over 100 attorneys and counsellors, MUŞAT & ASOCIAŢII provides advisory services in all areas of business law, including Mergers & Acquisitions, Privatization, Banking & Finance, Energy & Natural Resources, Real Estate & Construction, Competition & Antitrust, Corporate & Commercial Law, Telecommunications, IT & Media, Labour & Employment, Fiscal Law, Capital Markets, Infrastructure & PPP/Public Procurement, Environmental Law, Litigations & Arbitrations, Criminal Law. The team takes advantage of the group extensive experience in complex and various national and international transactions, providing integrated legal services in a multidisciplinary approach.
Renowned as one of the pillars of business law in Romania, MUŞAT & ASOCIAŢII is constantly recommended by foreign legal publications (such as Chambers & Partners, International Financial Law Review, Legal 500, CEE Legal Matters etc.) as one of the leading law firms, many of its attorneys being, in their turn, nominated by such publications among the elite of business law in Romania.
MUŞAT & ASOCIAŢII regularly provides legal services to many of the most renowned and valued corporations in Romania, including a third of the Top 100 and half of the Top 500 largest companies, as well as to local public and financial institutions in intricate corporate and financial transactions and complex dispute resolution procedures. The firm’s portfolio comprises over 2,500 clients, most of which are international corporations, such as (to name few of them): Enel SpA, GDF Suez, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), RBS (Royal Bank of Scotland), ING Real Estate – ING Bank, Fortis Bank, KBC Bank, Raiffeisen Bank, Banca Transilvania, BNP Paribas, China Development Bank, Colas Group, Eli Lilly, GlaxoSmithKline, Novartis, Roche, Abbott, General Electric, American International Group (AIG), General Electric, General Motors, Orange, Microsoft, Intel, Oracle, Google, Apple, AON, Amazon.com, AT&T, Nokia, Alcatel – Lucent, Telecom Italia, Thyssen Krupp, Generali, AFI Europe, Electrolux, Caterpillar, Monsanto, Deutsche Bahn, SAB Miller, Geely, Sika, Naxxar, Credit Suisse – Zurich, Credit Suisse Agricole, TNT Romania, Siemens, Daimler A.G., Generali Immobilien AG, GE Capital, Servier Pharma, Tigranit etc.
Muşat & Asociaţii is top-ranked by all the prestigious British publications – IFLR1000, Legal 500 and Chambers & Partners – which consistently place the firm at the top of their rankings of law firms in Romania in the following areas of practice