Țuca Zbârcea & Asociații successfully advised the Muntenia Financial Group on the sale to SIF Banat-Crișana of its interest in SAI Muntenia Invest – the company managing SIF Muntenia (SIF4). The acquisition has been recently approved by the Romanian Competition Council, which found no incompatibility with a normal competitive environment, and by the Financial Supervision Authority (FSA). This is the first transaction on the Romanian capital market involving a financial investment company (SIF) taking over the control on the manager of another SIF.

Țuca Zbârcea & Asociații has initiated a unique partnership with the Romanian Mathematical Society aimed at advancing and supporting the performance of young mathematicians. This year Țuca Zbârcea & Asociații will provide the Romanian Mathematical Society with pro bono legal services and financial support. The Romanian Mathematical Society is one of the oldest professional organisations in Romania and one of the first mathematical societies in Europe.

Țuca Zbârcea & Asociații announces the recruitment of Cătălin Băiculescu as a Partner, effective from June 22nd, 2013. Cătălin Băiculescu, a former Co-Managing Partner and Deputy Managing Partner with Mușat & Asociații, has joined Țuca Zbârcea & Asociații in a prominent lateral move. His legal career spans 15 years with law firm Mușat & Asociații, where he had held various top management roles since 2008. He started practicing law in the early days of the business legal market in Romania, having been a “veteran” at Mușat & Asociații, and served the longest period as a non-founding partner with this law firm.

The annual World Press Photo Exhibition reopened in Bucharest at the beginning of this month, at the initiative of EIDOS Cultural Foundation, founded by the Romanian documentary photographer Cristian Movilă, best known to the public for his reportage and human interest stories for top international magazines such as Newsweek, The New York Times and National Geographic. For the second year in a row, Țuca Zbârcea & Asociații supports the annual World Press Photo Exhibition in Romania. The most important international photojournalism exhibition can be visited in Piața Universității, Bucharest, until May 26th.

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.