Țuca Zbârcea & Asociații advised the Greek bank Piraeus Bank regarding the sale of its 93.27% stake held in ATE Bank Romania for 10.3 million Euros. A multidisciplinary team of lawyers specialising in Banking and Finance, Mergers and Acquisitions, Corporate and Commercial Law, as well as tax advisors assisted the client in negotiating and concluding the deal. The closing will take place following the prior completion of the spin off of the majority of assets and liabilities of ATE Bank Romania and contribution to the same to Piraeus Bank Romania. The transaction is also subject to regulatory approvals.

Țuca Zbârcea & Asociații’s Structural Funds Department has contributed to the release of more than 1,000 pages containing the inspection authorities’ Notices of Findings on the application of financial corrections in the structural fund projects implemented by local administrative authorities over the last four years. Along with the Institute for Public Policies (IPP) and the Romanian Association of Municipalities, Țuca Zbârcea & Asociații has issued, for the first time in Romania, a systematic case law directory on local and county authorities’ management/control of EU funds.

The High Court of Cassation and Justice allowed the final appeal lodged by Eureko SAFPP SA against Decision No. 39/2010 of the Competition Council under which Eureko SAFPP SA had been fined for an alleged cartel formed in 2007 on the market for the administration of mandatory private pension funds (Pillar II in Romania). A team of pleading and competition lawyers from Țuca Zbârcea & Asociații represented Eureko SAFPP SA in its final appeal before the Supreme Court.

Țuca Zbârcea & Asociații announces the closing of the takeover of Eureko’s portfolio of private pensions and life insurance, advising its client, Aegon. The transaction is set to close in the second half of 2013, pending regulatory approval.

Florentin Țuca, founding partner of Țuca Zbârcea & Asociații has triumphed at last night’s awards ceremony held by The Lawyer in Monte Carlo. He became the first Romanian lawyer to be named European Managing Partner of the Year. The citation singled out “his tireless and inspiring leadership” (The Lawyer). Țuca Zbârcea & Asociații is also a past recipient of The Lawyer’s 2010 Law Firm of the Year: Eastern Europe and The Balkans Award.