In an eagerly awaited development, Romania has taken a step forward in fostering more clarity on essential concepts relevant for foreign direct investment (FDI) screening, by publishing draft guidelines (the "Guidelines"), anticipated to enter into force in March 2025. While the Guidelines may not bring major surprises for practitioners who have been working in the FDI trenches since the regime came into force in April 2022, the formal codification of the authority's practice is a welcome step toward greater transparency and predictability.

Effective from 2 February 2025, the provisions of Chapter 1 and 2 of the EU Regulation no. 2024/1689 laying down harmonised rules on artificial intelligence (“EU AI Act”) regarding AI literacy and the ban on use of AI systems that pose unacceptable risks have entered into force.

Dentons, working with Kirkland & Ellis, Grette, and Akund Forbes, has advised Helmerich & Payne on the USD 1.97 billion acquisition of UK-headquartered KCA Deutag International Limited. Allen Overy Shearman Sterling reportedly advised KCA Deutag International Limited.

Former Reff & Associates Senior Managing Associate Andreea Serban has joined Stratulat Albulescu as a Partner in the firm's Financial Services and Mergers & Acquisitions departments.

On February 18, 2025, Taylor Wessing announced that Sennder's acquisition of C.H. Robinson's European surface transportation operations (as reported by CEE Legal Matters on August 5, 2024) is now closed.

If your company sells products that contain, have been fed with or have been made using cattle, cocoa, coffee, oil palm, rubber, soya or wood, then your company should most likely start preparing for compliance with the EU Deforestation Regulation[1]. The same applies if others in your company's supply chain produce or sell these commodities or related products.

Dentons has advised Piraeus Bank on project financing for a solar power plant developed by Metlen Energy & Metals in Romania.

Bulboaca & Asociatii has advised Superbet Group on a EUR 1.3 billion investment from American investment funds Blackstone and HPS Investment Partners.

1 January 2025 marked the entry into force of the obligation for Romanian established taxpayers that carry out taxable operations in Romania to report in the Romanian invoicing System the invoices issued in B2C transactions.

Filip & Company has advised Dante International and HeyBlu IFN on the acquisition of Orange Money IFN.

A new regulation, in force from January 28, 2025 establishes additional obligations and reporting requirements on Romanian companies with 50 or more employees in respect of hiring disabled people.

In terms of competition, the year 2024 was marked by 2 important milestones – the first part of the year, until the appointment of the new Plenum of the Competition Council, during which the authority focused on finalizing some internal issues (rulings and other procedural matters), and the second part of the year, when the new Plenum of the Competition Council started its activity, showing the first signs of the strategy for the next two and a half years.

CMS has advised M Core Group on its acquisition of a strip mall portfolio in Romania from MAS as well as on the acquisition financing. 

Vlasceanu & Partners has advised Ecoenergy's Romanian subsidiary Heliolux on obtaining EUR 38 million in project financing from Raiffeisen Bank International for the 92-megawatt Parau photovoltaic solar project. CMS reportedly advised Raiffeisen Bank.

Baciu Partners has successfully represented Asociatia Suporter Club UTA in a case against Asociatia Fotbal Cub UTA Arad.

The last two months have been marked by political uncertainty, according to Act Legal Romania Partner Mihaela Posirca. While challenges like a new tax on construction emerge, positive developments in deals and regulatory clarity provide a balanced outlook for the year ahead.

Dragne & Asociatii has successfully represented Baneasa Business & Technology Park and Baneasa Rezidential in a real estate dispute that lasted more than 12 years and involved more than 1,000 parties.

CMS has advised DRI on physical power purchase agreements with OMV Petrom for three separate solar projects.