PeliPartners assisted Hidroelectrica in aquisition of UCM Resita

PeliPartners assisted Societatea Hidroelectrica, in the acquisition process of the business lines related to the ABC platform and Câlnicel platform owned by UCM Reșița, the oldest industrial unit in Romania. The transaction was structured as a business transfer, consisting in the transfer of all the assets dedicated by UCM Reșița and necessary to carrying out the lines of business comprising the manufacturing and sale of hydro aggregates and ancillary equipment.

The business was acquired through a subsidiary solely held by Hidroelectrica and incorporated as a special purpose vehicle for the acquisition of the business.

The transaction was closed on 11 March 2024, following the fulfilment of the conditions precedent foreseen in the Framework Agreement concluded on 8 December 2023 between UCM Reșita and Hidroelectrica.

“We are honored to have assisted Hidroelectrica in this highly complex transaction that has contributed to its continuos expansion of its portfolio and the reinforcement of its position in the Romanian energy market. We had an exceptional team of lawyers specializing in various areas of practice who worked professionally to ensure that this transaction was completed successfully“, said Carmen Peli, Partner and Head of Corporate M&A at PeliPartners.

PeliPartners’ activity included extensive assistance to the client with transaction structuring, drafting and negotiation of the transaction documents, assistance with the signing process, as well as with the performance of all formalities necessary together with the fulfilment of the conditions precedent for the completion of the transaction and the implementation of the actual transfer. PeliPartners’ activity also included consultancy on specific insolvency matters, given the legal status of the seller, as well as assistance with respect to competition matters.

PeliPartners team was led by Carmen Peli (Partner), seconded by Delia Dumitrescu (Senior Associate), and included Oana Bucşa (Managing Associate) and Marc Bărăbaș (Associate) for competition related matters and Delia Lepădatu (Senior Associate) for insolvency matters.