KPMG in Romania and Moldova, and KPMG Legal – Toncescu si Asociatii provided vendor due diligence services in relation to the sale of Giurgiulesti International Free Port, Moldova’s sole sea-river port operator, to the National Company Administration of Maritime Ports, Romania’s port authority for Port Constanta, backed by the Ministry of Transport and Infrastructure in Romania.
The transaction follows a competitive international M&A process and represents a significant development in the regional logistics and transport infrastructure sector. Giurgiulesti International Free Port handles over 70% of Moldova’s waterborne imports and exports and plays a strategic role in regional trade flows along the Danube corridor, also playing a significant role in the future reconstruction of Ukraine.
Our multidisciplinary teams at KPMG Legal – Toncescu si Asociatii, KPMG in Romania, Moldova and the UK provided financial, tax and legal vendor due diligence services to the European Bank for Reconstruction and Development in connection with the sale of 100% of its shareholding in ICS Danube Logistics.
The overall project was coordinated by Mirela Calota, Director, Transport Infrastructure Deals Lead at KPMG in UK, with the financial vendor due diligence led by Elena Surdeanu, Associate Partner and the tax vendor due diligence led by Daniel Pana, Tax Partner, Monica Iordache, Tax Associate Director, Corina Siscovschi, Advisory Manager at KPMG in Romania and Cristina Reabenki, Tax Associate Manager at KPMG in Moldova.
The legal vendor due diligence was led by Laura Toncescu, Partner and KPMG Legal – Toncescu si Asociatii, and Dragos Iamandoiu, Partner and Head of Corporate M&A, KPMG Legal – Toncescu si Asociatii, with Florentin Timoianu, Defense Counsel, alongside ACI Partners in Moldova, led by Igor Odobescu, Partner, and Carolina Parcalab, Legal Manager.
“We would like to thank the entire KPMG team for their support to the European Bank for Reconstruction and Development in the sale of Giurgiulesti International Free Port and their commitment in delivering comprehensive vendor due diligence reports to market participants in this landmark transaction in the region.” – Norberto del Barrio, Principal at EBRD Headquarter in London.
“This transaction marks an important milestone for regional development and we are honored to have supported European Bank for Reconstruction and Development with vendor due diligence exercise. This was also a great opportunity to showcase the efficiency and value added of a fully integrated cross-border team, working seamlessly across Moldova and Romania” – Laura Toncescu, Head of KPMG Legal – Toncescu si Asociatii.
“We are pleased to have supported this landmark strategic transaction in the CEE maritime space through the delivery of vendor due diligence services across financial, legal and tax workstreams provided by our cross-border multidisciplinary teams at KPMG. We would like to thank the European Bank for Reconstruction and Development for the trust placed in our teams and our effective collaboration.” — Mirela Calota, Director, Transport Infrastructure Deals Lead at KPMG in UK.
