Filip & Company assists Fondul Proprietatea in the sale of its entire shareholding in OMV Petrom

Deniza Cristian 20/12/2022 | 17:43

Filip & Company law firm assisted Fondul Proprietatea in the sale of its entire shareholding in OMV Petrom S.A., consisting of 1,777,067,726 ordinary shares, through an accelerated private placement launched on Tuesday, 13 December.

 

Gross proceeds from the transaction amounted to 764.1 million lei.

The sale by Fondul Proprietatea of its shareholding in OMV Petrom is the culmination of a process in which, on the one hand, a large part of the shares of this benchmark company reached the market, significantly increasing liquidity and, on the other hand, Fondul Proprietatea realized significant value for its shareholders. The transaction is all the more remarkable considering that it was successfully concluded in a challenging market climate. We are glad to have been able to work again with the team at Fondul Proprietatea in an important project. It is always a pleasant experience, said Alexandru Bîrsan, Partner and coordinator of the M&A department of Filip & Company.

The Filip & Company team, coordinated by Alexandru Bîrsan, included Roxana Diaconu (senior associate) and Rareș Crîșmaru (associate).

Linklaters London assisted the seller on English law issues.

Erste Group Bank AG and SSIF Swiss Capital S.A. acted as Joint Global Coordinators and Joint Bookrunners and Banca Comercială Română S.A. and Auerbach Grayson and Company LLC acted as Joint Bookrunners in the transaction.

The lawyers at Filip & Company have had important roles in many of the key M&A transactions in Romania. Whether they were privatisations, private equity, venture capital or growth capital transactions or other complex M&A, in very many cases at least one of the parties was assisted by Filip & Company. Furthermore, the lawyers at Filip & Company are ranked first in the most prestigious international legal directories – Chambers and Partners and Legal 500 – with their M&A practice, both as a team as well as individually.

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Deniza Cristian | 19/12/2022 | 18:45

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