PeliPartners has advised the Mitiska REIM Group on its receipt of a EUR 123 million senior debt facility from the Erste Group. The Bucharest office of Wolf Theiss advised the Erste Group.
The decade that just ended brought significant changes to the banking landscape in Romania. The banks were pushed to restructure their loan portfolios, consumer litigations increased exponentially, the cost of business increased, and Fintech companies started (although timidly) to take a slice of the pie. Populist legislation was enacted to protect consumers years after banking services were contracted. And a wave of acquisitions forced by the increased costs led to changing rankings at the top of the banking sector.
Popovici Nitu Stoica & Associates has advised Certinvest on the sale of Certinvest Pensii, which manages over RON 75 million in an optional pension fund that has over 9,500 participants, to Banca Transilvania subsidiaries BT Asset Management SAI and BT Investments. Peli Partners reportedly advised Banca Transilvania on the deal.