Practice Areas: Representative Transactions List

RMDT's extensive experience in the region covers a broad cross-section of financial, investment and commercial transactions of virtually every variety. Noted below are a few examples of the experience of the firm and its professionals.

Counsel In The Largest Privatizations In Romania
RMDT has advised in 4 of the 7 largest privatizations in Romania since 1989.
Indeed, out of the 15 largest privatizations in the country since 1989, RMDT represented buyers in 8 of these transactions.

RMDT advised one of the world's major telecom operators in regard to the largest foreign investment made in Romania since 1989 in the acquisition and privatization of RomTelecom, Romania's fixed telephone service provider, including providing advice concerning the legal and regulatory issues involved in structuring the transaction and the complete due diligence examination of the company. Most significantly, the firm successfully stewarded this complex transaction through the Competition Council in a first-of-its-kind procedure that created the precedent for future applications before the Council.

Counsel In the Largest Acquisitions in Romania
Among a long list of the largest and also the most diverse transactions of any firm operating in Romania, RMDT has advised on:
  • the acquisition of Romania’s the largest oil refinery,
  • the purchase of a half billion dollar automotive manufacturing business,
  • the privatization of the largest metals plant in Romania,
  • the acquisition of the second largest steel plant in the country,
  • the privatization of Petrom, the state oil company,
  • the sale of the largest automotive parts manufacturer in Romania,
  • the sale of one of the nation's largest cement manufacturers; and
  • the privatization of Romanian petrochemical plants, tire producers, farm machinery manufacturers, cable manufacturers and telecommunication operations, packaging plants, and pharmaceuticals, to name just a few of the industries in which the firm has provided counseling.
In all of these transactions, RMDT brought together the unique combination of good lawyering and public affairs counseling that are essential in a transitional political and economic environment such as Romania in order to conclude transactions successfully.

Advisors in Almost All Sectors of the Romanian Economy
RMDT has represented numerous foreign investors in acquisitions, joint ventures and other privatization transactions, including the largest multinational investors in Romania from the United States, Canada, Germany, the United Kingdom, Israel, Italy, the Netherlands, Switzerland, Austria, South Korea, Mexico, Australia, Belgium, Luxembourg, Liechtenstein, Poland, Russia, Finland, Hungary, India, Japan, Greece, Turkey and Cyprus in transactions including:
  • the acquisition and licensing of radio and television stations,
  • the formation of a US $100 million production facility for Europe's second largest tire producer,
  • the acquisition of assets of banking institutions in Romania,
  • leasing arrangements for investors involved in mining and oil exploration concessions, industrial manufacturing and trade industries,
  • establishment and operation of joint ventures in the Disadvantaged and Tax Free Zones of Romania,
  • the purchase of aeronautical and defense industry firms,
  • the acquisition of chemical and petro-chemical production facilities
  • a joint venture with Romania's largest pipe and valve producer,
  • the acquisition and licensing of cable television companies, and
  • the establishment of major breweries, mineral water plants, automotive parts manufacturers, kitchen appliance manufacturers and retail stores.
RMDT advises multinational industrial and service businesses and major commercial and investment banks in structuring and undertaking domestic and cross-border mergers and acquisitions, joint ventures and equity investments.

Creative structuring of mergers and acquisitions is a hallmark of RMDT that often utilizes the cooperation of several H&R offices and intensive support from its competition law experts.

Significant Tax Law Practice in Romania
The firm has provided domestic tax advice to such major corporations as the world's largest beverage company, the world's largest manufacturer of mainframe computers, the world's largest consumer products manufacturer, one of Europe's largest pharmaceutical firms, several foreign banks, and leading multinational defense contractors and other firms engaged in manufacturing, shipping and real estate development.

This expertise is further enhanced by the hands-on supervision of Mark A. Meyer, Esq., widely acknowledged to be the leading international lawyer active in Romania, who served as Co-Chairman of President Emil Constantinescu's Blue-ribbon Presidential Commission on Tax Reform and continues as a member of the Tax Reform Commission of the Ministry of Finance, and as a special advisor for legal and economic matters to five European heads of state.

Sophisticated Banking, Finance and Securities Practice in Romania
RMDT's banking practice is well established and highly regarded in Romania. The firm has represented the largest foreign banking institution in Romania in numerous transactions, and it has advised at one time or another most of the largest international investment banking firms in the world on one or more transactions including proposed municipal bond offerings, privatizations, debt and equity acquisitions, and institutional investment strategies.

The firm has also provided legal advice with respect to compliance and regulatory issues in Romania, currency swaps, corporate governance, and fiduciary issues, as well as securities and commodities matters.

For example:
  • RMDT is actively involved in all aspects of international loan transactions (including secured lending) in Romania for major financial institutions throughout the world,
  • The firm acts as international counsel for the Ministry of Transportation in regard to securitized and non-securitized bond offerings on European national markets,
  • RMDT's attorneys successfully concluded a major foreign currency swap after the issuance of Romanian Samurai bonds on the world market,
  • RMDT obtained the requisite approvals and licenses necessary for a number of our clients to commence banking operations in Romania,
  • RMDT attorneys have performed legal due diligence examinations on the National Bank of Romania, several Romanian banks and other financial institutions,
  • RMDT advised listed companies on the Bucharest Stock Exchange and the RASDAQ in regard to compliance issues and stockholder matters,
  • RMDT developed the policy framework and drafted the legislation necessary for the conversion of the Private Ownership Funds into mutual funds, and has assisted the International Monetary Fund with respect to the implementation of a secondary securities market in Romania, and
  • Herzfeld & Rubin, P.C., also acted as General Counsel to the Bucharest Stock Exchange during its first year of operation.
Infrastructure Redevelopment and Project Finance
RMDT has played a major role in some of the most significant Power projects in Romania, including the proposed power generation and partial privatization arrangements for one of Conel's largest plants.

In order to assist some of the largest companies doing business in Romania in securing needed financing for infrastructure investments, RMDT attorneys formulated a "commercial paper program" whereby promissory notes issued by the companies were sold and traded. Such an issuance provided a superior form of financing as opposed to bank credits that were limited and obviated the need to engage in a costly currency exchange.

RMDT attorneys have also structured syndicated loans from Western lenders, guaranteed by the Romanian Ministry of Finance, and required to finance the country's short-term energy needs.
RMDT acts as international counsel for Romania’s National Road Administration in regard to bond offerings for road construction projects,

RMDT attorneys have represented successful bidders in both analog and GSM licenses for cellular telephone networks in the most substantial telecommunications transactions to date in Romania. We have worked on transactions involving satellite, radio, cable television and other related areas.

Largest Real Estate Practice in Romania
The firm has an extensive practice in virtually all aspects of real estate development and finance in Romania, with broad experience in matters relating to the ownership, assembly, acquisition, development, construction, operation, financing and securing of real estate assets.
 
RMDT represents prominent U.S. and international developers in a wide range of matters including the aborted purchase and sale of land for the development of undeveloped areas of Bucharest for a $2.2 billion entertainment center.

The firm has also provided advice to the Government of Romania in regard to the creation of historic urban district legislation and urban business improvement legislation in connection with the renovation of the nation's historic urban districts.

Additionally, among other transactions, RMDT has provided and continues to provide, advice with respect to:
  • the redevelopment of Baneasa Airport,
  • the development of over a dozen hotel and resort projects, and
  • the acquisition of land and the negotiation and review of leases for properties, including agricultural land, which efforts involve the preparation of purchase and lease agreements, as well as mortgage and funding documentation, and the provision of advice on complex environmental and pollution matters, land ownership issues relative to claims by previous owners, ownership issues, and the clarification of conflicting titles.
  • Various office and hotel projects in Romania for the regions largest real estate developers, including the largest such developers from Israel and Greece
Regional Balkan Counsel
RMDT operates as regional counsel in the Balkans for several of its multinational clients who base their regional operations in Bucharest. This includes advice regarding Bulgarian, Serbian and Moldovan legal issues.
 
For example, in the Republic of Albania, the firm is currently advising a Turkish-based consortium on the creation of a public/private/partnership to redevelop Tirana’s international airport, and advising a US-based firm on the construction of a modern hospital facility in the country.

RMDT has substantial experience in representing foreign companies in transactions in the Republic of Moldova. For example, RMDT advised a Turkish-based consortium on the privatization of the Moldovan State telephone company, one of the world’s largest pharmaceutical firms on the creation of a Moldovan joint venture, a computer hardware manufacturer on the creation of a facility in the country, and Canada’s major lottery operator in a complex arrangement for a new Moldovan national lottery.

In Bulgaria, RMDT represented one of the world’s largest oil companies in regard to the establishment of a distribution network and the aborted privatization of an oil refinery.
In the Republic of Montenegro, Herzfeld & Rubin, P.C. has engaged in a number of transactions involving the tourist industry on the Dalmatian coast and acts as counsel to the Republic and its Prime Minister, H.E. Milo Djukanovic.
 
References from clients in your particular industry sector are available upon request.