Completion of the transaction is subject to approval by Romania’s Competition Council, which is expected at the beginning of 2014. Schoenherr supported the client in the legal due diligence exercise, as well as in drafting and negotiating the transaction documents.
The structure of the portfolio acquired from ING Lease Romania, according to the type of financed goods, is as follows: vehicles 49.7%, equipment 31.6%, and real estate 18.7%. Raiffeisen Leasing is member of the Austrian financial group Raiffeisen.
„We were happy to be part of this challenging process that involved the first transfer of a leasing portfolio on the Romanian market, we are looking forward to achieving the closing conditions and allowing the project to move ahead to the implementation phase as soon as possible,” said Madalina Neagu, Partner, who coordinated the team of lawyers from Schoenherr’s Bucharest office.
The Schoenherr team also included Matei Florea (Partner), Cristina Dumitrascu, Bogdan Ionita, Alexandra Munteanu, and Anamaria Satmar (all Attorneys at law, Bucharest).
