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Zentiva Group a.s. confirms the closing of its previously declared acquisition of Alvogen’s Central and Eastern European (CEE) business.
In the context of the economic and financial difficulties caused by the spread of the COVID-19 virus, the Romanian Government has adopted a series of facilities and support measures for SMEs whose activity is directly affected by the measures ordered by the public authorities, for the prevention and control of the pandemic determined by the infection with COVID-19 coronavirus.
Laurențiu Pachiu and the entire team of lawyers from Pachiu si Asociații join D&B David and Baias, PwC's correspondent law firm in Romania.
On 7 April 2020, Romania enacted Government Emergency Ordinance No.
Reff & Associates, the law firm representing Deloitte Legal global network in Romania, provided legal assistance to the Dutch financial holding Forum Serdika, owned by the British investment fund East Balkan Properties plc, in the sale of its industrial park Equest Logistic to CTP, the real estate developer and long-term manager of industrial and logistics parks in Romania and Central and Eastern Europe.
According to Law no. 129/2019 for the prevention and combating of money laundering and terrorism financing, as well as for the amendment and completion of some normative acts ("Law 129/2019"), companies have the obligation to submit, at the moment of registration, annually or whenever a change occurs, a statement regarding the actual beneficial owner of the legal person, in order to be registered in the companies’ real beneficiaries register.
The mergers and acquisitions market (M&A) recorded 19 transactions in Romania in the first quarter of the year, four more compared to the same period in 2019.
Pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (“General Data Protection Regulation”), controllers must only use processors that provide sufficient guarantees regarding their capability to implement appropriate technical and organizational measures to ensure that all processing activities are performed and protected in line with the legal requirements.
On 16 March 2020, the Romanian President declared a state of emergency for the next 30 days to limit the spread of COVID-19 and manage its effects (the “State Emergency Decree”).
The National Bank of Romania (“NBR”) together with the Romanian Government have responded swiftly to the economic shock created by the COVID-19 pandemic by announcing several measures aimed to alleviate the adverse impact of COVID-19 on individuals and small & medium-sized enterprises (“SMEs”) and short-term liquidity resulting from the decreasing business activities.
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