Romanian independent outfit closes Direct One-Netcity Telecom deal

Direct One, a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network, announced the completion of the transaction to acquire Netcity telecom’s infrastructure from UTI Group.

The deal got regulatory approval in December 2016, while debt financing was provided by the Mandated Lead Arrangers Banca Comercială Română and BRD – Groupe Societe Generale.

Țuca Zbârcea & Asociații advised the buyer on all telecom/regulatory, as well as M&A and corporate issues surrounding the deal, from a due diligence investigation on the target company, to assisting in relation to the transaction structuring and reviewing the transaction documents up to the negotiation thereof. The team also acted on the financing side of the deal.

The team was led by Partners Cătălin Băiculescu (Corporate, M&A, TMT) and Vlad Cercel (TMT), as well as Mihai Dudoiu (Banking & Finance).

Direct One is a Romanian-owned company that has developed its own nationwide high-capacity fibre optic network.

Netcity Telecom is the operator of the capital Bucharest's underground fibre optic network under a 49-year concession agreement concluded with the Bucharest municipality in 2008.