Bucharest, 14 December 2016 – Mușat & Asociații assisted Emerson S.R.L., the Romanian subsidiary of Emerson Electric, one of the global players in the manufacturing and technology sector, in respect of the separation of the activity of Emerson Network Power for the purpose of its transfer to the American investment fund Platinum Equity. The transaction was made at global level and amounted to approximately USD 4 billion.
Emerson Network Power (part of the Emerson giant) is an important supplier of control units and A/C and D/C power transfer switches, as well as of information management services and systems for data centres and the telecommunications industry. The Emerson Company reported sales in amount of USD 4.4 billion at global level for the Network Power business in 2016.
“The Mușat & Asociații team played an essential role in the local perimeter of this global project, mandate which can be included in the set of international transactions that kept us busy also in 2016. Our experience in the planning, multi-jurisdictional correlation and carrying out of such projects allowed us to work in parallel in complex and challenging separation and sale structures, with a multi-disciplinary approach and the involvement of an impressive number of attorneys and advisors from over 40 countries. The experience of our team and the confidence of our clients, which were built in time, have their say when we witness the success of the projects we are involved in.”, stated Iulian Popescu, Partner at Mușat & Asociații.
The attorneys involved in the project provided advise in all the stages of the business transfer process, as well as in those related to the completion and fulfilment of the conditions subsequent to the takeover operation by Platinum Equity, offering at the same time legal and fiscal assistance within the workflows of corporate law, real estate and constructions, labour law, fiscal law and repatriation of profit, IT and IP.
The Mușat & Asociații team was made up of 12 attorneys, among whom Iulian Popescu (Partner), Ana Maria Placintescu (Partner), Ileana Lucian (Partner), Andrei Ormenean (Senior Associate), George Ghitu (Associate), Alina Man (Associate) and 2 tax advisors from Mușat & Asociații Tax: Răzvan Graure (Partner) and Roxana Dobrogeanu (Tax Manager).
Muşat & Asociaţii is one of the market leaders of the Romanian Merger and Acquisition Market, being involved over time in several of the largest transactions concluded at local level. Among the recent projects we can list: legal assistance provided to Premier Capital in the takeover of the local operations of the American group McDonald’s; legal assistance provided to the CRH company (Ireland) in relation to the acquisition of the Lafarge assets in Romania, as part of a global transaction in amount of EUR 6.5 billion; assistance to Electrica SA and the mediation trade union (made up of Raiffeisen Capital & Investment, BRD, Société Générale, Citigroup and Swiss Capital) in the conduct of the initial public offering (IPO) for the sale of shares, representing 105% of the share capital of DFEE Electrica, in the largest listing up to this point in Romania (EUR 440 million), successfully concluded in July 2014; Sterling Resources Ltd. in the transfer process of the 65% shareholding in the deep water area of the Midia XV perimeter of the Black Sea, to ExxonMobil Exploration and Production Romania and OMV Petrom SA; Industrial Bank of Korea in respect of the financing of 5 photovoltaic projects, developed in 3 different regions of Romania; China Development Bank in relation to the financing of two photovoltaic power plants, a top Chinese consortium in relation to the participation and development of an important electricity production project.
About MUŞAT & ASOCIAŢII
MUŞAT & ASOCIAŢII is one of the first law firms established in Romania after 1 January 1990. With 16 partners and over 100 attorneys and advisors, MUŞAT & ASOCIAŢII provides consulting services in all business law areas, including Mergers & Acquisitions, Privatization, Banking, Energy & Natural Resources, Competition, Corporate, Telecommunications & IT, Labor, Tax, Capital Markets, Real Estate, Environmental Law, Litigation & Commercial Arbitration.
Recognized as one of the pillars of Romania’s business law practice, MUŞAT & ASOCIAŢII is constantly recommended by international specialized publications (Chambers & Partners, International Financial Law Review, Legal 500 etc.) as a leading law firm in Romania. Besides, many of its attorneys have been nominated by such publications among the elite of business law in Romania.
In 2015, MUŞAT & ASOCIAŢII won the “Law Firm of the Year in Romania” award, a distinction handed out annually by the reputed British publisher “The Lawyer” to European law firms with outstanding achievements in the reference year.
In 2013, MUŞAT & ASOCIAŢII won the “The Law Firm of the Year in Romania” award granted by the International Financial Law Review. That was the second time that Muşat & Asociaţii was granted this prestigious award, after the distinction received in 2011, when Romania was included for the first time on the list of countries nominated for the International Financial Law Review (IFLR) awards.
Moreover, in 2012 MUŞAT & ASOCIAŢII won the Gold Award for the “Best Law Firm in Central and Eastern Europe”, an accolade awarded by the 2012 International Legal Alliance Summit & Awards, for excellent results obtained on the Romanian market by the MUŞAT & ASOCIAŢII team, both with regard to the mandates portfolio in the Mergers & Acquisitions area of practice, and to the management strategy adopted.
Furthermore, the renowned publication Chambers Europe awarded the “Romanian Law Firm of the Year” trophy to MUŞAT & ASOCIAŢII, the law firm with the best performance in Romania, during the “Chambers Europe Awards for Excellence 2011” gala.
On a regular basis, MUSAT & ASOCIATII provides the most renowned and valued corporations in Romania – including a third of the Top 100 and a half of the Top 500 largest companies – as well as local public and financial institutions with legal advice on intricate corporate and financial transactions and complex dispute resolution procedures. The Law Firm’s portfolio includes over 2,500 clients, most of which are foreign investors.