Țuca Zbârcea & Asociații acted as WDP’s lawyers on one of the top transactions of the year in the wholesale market

Expo Market Doraly, the largest wholesale, cash & carry and retail shopping complex in Romania, has been sold to Belgian developer WDP, the second-largest owner of industrial-logistics spaces in Romania with a portfolio of almost 1.7 million sqm.

The acquisition of Expo Market Doraly, the best-known local brand, marks WDP's entry into the wholesale market. The transaction was completed with legal support from Țuca Zbârcea & Asociații.

WDP acquired the entire shareholding in Expo Market Doraly from ARA Europe and Gheorghe Iaciu, who founded the shopping complex in the ‘90s and will continue to manage the project alongside the current property management team.  

Țuca Zbârcea & Asociații acted on buyer’s side during all stages of the transaction, starting with a complex due diligence process on the target (covering an area of approximately 110,000 sqm, 37 pavilions and over 400 tenants) and continuing with assistance in negotiating the transaction documents and closing the transaction, including the fulfilment of conditions precedent and obtaining the necessary approvals from the Competition Council. 

The project team was led by Răzvan Gheorghiu-Testa (Partner) and Dragoș Apostol (Partner), together with Oana Ureche (Partner) and Veronica Aman (Managing Associate).

”Our team was involved in every stage of the acquisition process, providing the legal support to successfully complete a highly complex transaction, given the profile of the parties concerned and the characteristics of the asset, which certainly makes it one of the landmark transactions of 2024. We are pleased to have had the opportunity to work together with WDP's team of professionals on the acquisition of the Group's first wholesale project and we are looking forward to continuing working with them during the operational phase of the shopping centre.” said Dragoș Apostol, Partner and co-coordinator of the legal team of Țuca Zbârcea & Asociații.

Țuca Zbârcea & Asociații is one of the largest independent law firms in Romania, operating successfully in all areas of business law. It is also the highest ranked law firm in Romania by the Legal 500 EMEA legal directory and is generally ranked in the top tier of Romanian law firms, highly regarded by clients and peers alike for its ability to provide innovative and practical legal solutions.