Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Raiffeisen Bank Romania in finalizing the transaction whereby Banca Comercială Română, BRD Group Societe Generale and Raiffeisen Bank Romania became together shareholders holding each a 33,3% equal stake in CIT ONE, one of the most important valuables transportation, processing and storage services companies on the Romanian market.
The transaction was finalized after obtaining all the approvals from the relevant authorities and carrying out all the other necessary formalities. Working under the coordination of the Investment Banking division of the bank, NNDKP assisted Raiffeisen Bank Romania in all the stages of the transaction. The assistance included legal due diligence analysis performed with respect to CIT ONE, negotiation of all the transaction documents and assistance to Raiffeisen Bank in all the actions taken in order to complete the transaction.
Alina Radu, Partner and Head of the Banking and Finance practice area coordinated the NNDKP team involved in this transaction, together with Corina Dumitru, Partner, Corporate/M&A, and Georgeta Dinu, Partner and Head of the Competition, State Aid and EU Law practice areas. Furthermore, one of the lawyers who also had a significant contribution in the project was Anca Diaconu, Senior Associate in the Competition, State Aid and EU Law practice areas.
“It was high time for the market of valuables transportation, processing and storage to move to a new stage of development, and the importance of the current shareholders of CIT ONE will certainly contribute to this process. We are proud that we had the chance to assist Raiffeisen Bank in this project that required an intense and constant communication, which was needed to address the challenges inherent to a transaction opening new perspectives on our market,” stated Alina Radu, NNDKP Partner, Banking and Finance.
“We are very pleased to see this touchstone transaction finalized, at the end of a complex process and during such difficult times. We would like to thank our collaborators from Raiffeisen Bank who managed this transaction and with whom we had an excellent cooperation in which we succeeded together to harmonize the legal and business aspects” , stated Corina Dumitru, NNDKP Partner, Corporate/M&A.
Nestor Nestor Diculescu Kingston Petersen is a promoter of business law in Romania, and is acknowledge, for almost 30 years, as a pioneer of the Romanian legal market. With offices in Bucharest, Cluj-Napoca, Timisoara and Brasov, NNDKP offers full-service and integrated legal and tax advice to companies from diverse industry sectors. For the past three decades, NNDKP lawyers have provided expertise in landmark deals and projects in Romania, contributing to the evolution of the Romanian business environment, including in innovative and niche economic sectors that involved both international corporations and local entrepreneurs.
In addition, NNDKP represents Romania in some of the most prestigious international professional alliances – Lex Mundi, World Services Group – and is a founding member of the South East Europe Legal Group (SEE Legal). The firm is constantly top-ranked in all practice areas by the reputed international guides Chambers & Partners, Legal500 and IFLR 1000.
Raiffeisen Bank provides general banking services to over 2.1 billion natural person clients, 93,000 small and medium-sized companies and 5,700 large and medium-sized companies. The bank has approximately 5,000 employees, over 300 agencies across the country, approximately 800 ATMs, 335 MFMs and a network of 23,000 POSs