Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Raiffeisen Bank Romania in finalizing the transaction whereby Banca Comercială Română, BRD Group Societe Generale and Raiffeisen Bank Romania became together shareholders holding each a 33,3% equal stake in CIT ONE, one of the most important valuables transportation, processing and storage services companies on the Romanian market.
The transaction was finalized after obtaining all the approvals from the relevant authorities and carrying out all the other necessary formalities. Working under the coordination of the Investment Banking division of the bank, NNDKP assisted Raiffeisen Bank Romania in all the stages of the transaction. The assistance included legal due diligence analysis performed with respect to CIT ONE, negotiation of all the transaction documents and assistance to Raiffeisen Bank in all the actions taken in order to complete the transaction.
Alina Radu, Partner and Head of the Banking and Finance practice area coordinated the NNDKP team involved in this transaction, together with Corina Dumitru, Partner, Corporate/M&A, and Georgeta Dinu, Partner and Head of the Competition, State Aid and EU Law practice areas. Furthermore, one of the lawyers who also had a significant contribution in the project was Anca Diaconu, Senior Associate in the Competition, State Aid and EU Law practice areas.
“It was high time for the market of valuables transportation, processing and storage to move to a new stage of development, and the importance of the current shareholders of CIT ONE will certainly contribute to this process. We are proud that we had the chance to assist Raiffeisen Bank in this project that required an intense and constant communication, which was needed to address the challenges inherent to a transaction opening new perspectives on our market,” stated Alina Radu, NNDKP Partner, Banking and Finance.
“We are very pleased to see this touchstone transaction finalized, at the end of a complex process and during such difficult times. We would like to thank our collaborators from Raiffeisen Bank who managed this transaction and with whom we had an excellent cooperation in which we succeeded together to harmonize the legal and business aspects” stated Corina Dumitru, NNDKP Partner, Corporate/M&A.
Popovici Nițu Stoica & Asociații advised BRD - Groupe Société Générale in the recently closed transaction, while Filip & Company Law Firm assisted BCR.