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Deals, doubts and divergences: CMS European M&A Outlook 2026Despite pronounced market volatility, particularly in respect of EU-US trade policy, dealmakers continue to ... EMPLOYMENT - The two sides of work environment | Harassment vs. normal work climateMore than a year after the publication of GD no. 970/2023, the methodology on preventing and combating ... Schoenherr transforms its Summer Internship Programme into a genuine career ...Ana Lupșor, People & Culture Manager: “Our goal is to provide real exposure to projects and to the way of ... NNDKP, a firm recognized by international directories as “one of the heavyweights on the market” in the local mergers and acquisitions segment, explains why strategic investors dominate the scene and which sectors emerge as this year’s surprises | A conversation with partners Gabriela Cacerea and Adriana Gaspar on the current architecture of M&A and today’s key challenges![]() Romania’s mergers and acquisitions market is shaping its trajectory on an upward curve, despite political, social, and economic uncertainties.While a few spectacular transactions set the statistical tone, the true pulse of the market is dictated by small and medium-sized deals.Strategic investors still lead the game, with private equity funds complementing the landscape through consistent activity. Success is measured by the achievement of strategic objectives, flawless execution without legal risks, and the sustainability of synergies. At the same time, FDI screening adds time and complexity, while ESG is gaining genuine weight in due diligence and valuation. R. T. Clifford Chance Badea strengthens its Corporate M&A and Real Estate practice by recruiting Flavia Petcu-Ciurel as Senior Associate![]() Clifford Chance Badea, the local office of global law firm Clifford Chance, strengthens its Corporate M&A and Real Estate practice by recruiting Flavia Petcu-Ciurel as Senior Associate.Flavia has significant experience in managing complex real estate mandates, advising high-profile clients in projects such as leasing agreements, acquisitions, sales, and development projects. In recent years, she has been involved in some of the largest real estate transactions in Romania in sectors such as office, renewable energy, logistics, retail, agriculture, and forestry. Nadia Badea, Partner and head of the Corporate M&A and Real Estate practice with the Bucharest Clifford Chance office, says: “A constant concerns of ours is strengthening our senior layer with talented lawyers who have proven track records, experience and ability to respond to our clients’ needs and expectations. We welcome Flavia to our dynamic and talented team, which is a trusted advisor to the most representative investors and financiers in the region, advising on landmark transactions in strategic areas, with local and multi-jurisdictional impact.” Clifford Chance Badea has some of the most important local and regional deals in its portfolio, advising multinational companies, investment funds, and global financial institutions on both sell side and buy side mandates. BizLawyer |
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CMS | Romania adopts short-term energy reforms to reduce consumer prices
On 4 September 2025, the Romanian government adopted a Memorandum addressing short-term reforms in the energy market designed to minimise the exposure of end consumers to increases in electricity prices.

Clifford Chance strengthens Litigation practice with addition of Remus Codreanu as Partner in its Bucharest team
Clifford Chance Badea, the local office of global law firm Clifford Chance, continues to expand its senior team by adding Remus Codreanu as Partner in its Litigation practice (L&D), which includes the areas of White Collar and Strategic Risk Management, Arbitration, and Commercial Litigation.

Kinstellar announces new Office Managing Partner in Bucharest – Iustinian Captariu to take over leadership as of 1 September 2025
Kinstellar announced that, effective 1 September 2025, Partner Iustinian Captariu has been appointed as the new Office Managing Partner of the Bucharest Office.
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Ana-Maria Baciu sets a new premiere as the Romanian lawyer with the highest number of nominations at the Legal 500 CEE Awards 2025
Ana-Maria Baciu, Managing Partner and Founder of BACIU PARTNERS, has been shortlisted in three categories at the inaugural edition of the Legal 500 CEE Awards 2025: Intellectual Property Lawyer of the Year, Romania Lawyer of the Year and CEE Partner of the Year.

Clifford Chance advised UniCredit Bank and Garanti BBVA in the loan agreement with DRI for up to EUR 60 million to finance the 126 MW Vacaresti photovoltaic plant
A multijurisdictional team of Clifford Chance Project Finance lawyers, coordinated from Bucharest, advised lenders UniCredit Bank SA and Garanti BBVA, and UniCredit SpA as Facility Agent and Sustainability Agent, in the signing of a financing agreement for a package of non-recourse loans of up to EUR 60 million equivalent (approx.

Clifford Chance Badea advised UniCredit in the closing of its merger with Alpha Bank, resulting into the third largest banking group by assets in Romania
Clifford Chance Badea, the local office of global law firm Clifford Chance, advised UniCredit in the closing of its merger with Alpha Bank Romania, resulting into the third largest banking group by assets in Romania.

Kinstellar advises PKO Bank Polski on Romanian law aspects regarding the financing for Maspex Group’s acquisition of Purcari Wineries
Kinstellar, working in cooperation with Norton Rose Fulbright, has advised Powszechna Kasa Oszczędności Bank Polski S.

PNSA advised ROCA Energy in the acquisition of a 20% stake in Adrem Group
PNSA advised Roca, a private equity firm, on successfully closing the acquisition of a 20% stake in Adrem Energy Solutions SA, an energy services company.

CMS advises Rezolv Energy on €331m additional financing for VIFOR wind farm in Romania
CMS has advised Rezolv Energy, through its project subsidiary First Look Solutions S.
NNDKP, a firm recognized by international directories as “one of the heavyweights on the market” in the local mergers and acquisitions segment, explains why strategic investors dominate the scene and which sectors emerge as this year’s surprises | A conversation with partners Gabriela Cacerea and Adriana Gaspar on the current architecture of M&A and today’s key challenges
bpv Grigorescu Ștefănică: strategic transactions and sector consolidations define the M&A market | 2025 brings innovative structures, distressed M&A, and a redefinition of success, in a market where lawyers become the architects of balance between strict regulations and investor interests
Clifford Chance Badea strengthens its Corporate M&A and Real Estate practice by recruiting Flavia Petcu-Ciurel as Senior Associate
Mușat & Asociații Summer Internship—more than a summer placement: a strategic training and recruitment program that gives students authentic practical experience, direct mentoring from partners, and access to the fellowship, with real chances to join the firm’s team
Syndicated financings retain a solid foothold while club deals gain ground, say the Banking & Finance lawyers at NNDKP | Valentin Voinescu (Partner): “We have noticed increased interest from investment funds and non-bank lenders. The client profile has evolved: companies are better informed, more receptive to mixed structures, and increasingly focused on optimizing costs and capital structure”
Meet the Professionals – The candid confession of the youngest partner at GNP Guia Naghi & Partners: “It wasn’t talent that got me here, but hard work and the luck of being in the right environment” | A conversation with Tudor Nacev about cultivating excellence, pioneering the pharma practice, and working on high-impact projects
ESSENTIAL INTERVIEWS | Dr. Cosmin Vasile, Managing Partner – ZRVP: In a legal market marked by numerous spin-offs, ZRVP stands out as the only major law firm born from a merger and later consolidated through a second merger
Deals, doubts and divergences: CMS European M&A Outlook 2026
EMPLOYMENT - The two sides of work environment | Harassment vs. normal work climate
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