Corporate, Commercial and M&A
The Corporate, Commercial and M&A department is a key practice area within the law firm and is characterized by its international reach and the multidisciplinary approach that our team takes on all projects. Almost all of our projects are cross-border, working with Magic Circle firms and other leading firms from all over the world.
The M&A practice is very expansive and strong practice within our firm. We have experience in all stages of the acquisition process, starting with sale-purchase agreements, due-diligence reports, mortgage agreements to business transfers, mergers or divisions with private, state owned or companies in insolvency proceedings, joint ventures, just to mention a few.
We have earned our place in the market by handling high-value corporate transactions for clients coming from diverse industry sectors, ranging from international private companies to local ones. Throughout the mandates handled we developed a solid practice, dealing with complex M&A transactions, both on the buyer`s and seller`s side, advising on Romanian M&A aspects inasmuch as cross-border.
We assembled a team of highly skilled attorneys with extensive experience, eager to dedicate their time and best efforts, to provide high-end legal services, having the knowledge and ability to approach every transaction from start to closing, working side by side with our clients, to make sure that their objectives are fully achieved.
We reach to our clients by offering our legal know-how, competency and reliability throughout the process of adopting and implementing the most effective solutions and sophisticated strategies, with the sole purpose of protecting their interests. Furthermore, we believe that each customer should receive tailored services, in a timely manner.
Our services
- Incorporation and Corporate Restructuring
- → Company incorporation in Romania
- → Changing headquarters of a company in Romania
- → Dissolution and liquidation of a company in Romania
- → Appointment and Revocation of the Director
- → Share transfer in Romania
- → Change of NACE codes in Romania
- → Shares Sale Agreement in Romania
- → Opening a branch in Romania
- → Establishing a joint-stock company in Romania
- → Opening bank accounts for Romanian companies
- → Procedure for registration of ubo’s in Romania
- → Amendment of the articles of incorporation of a foundation in Romania
- → Extension or reduction of the duration of a company in Romania
- → Change of legal form of a company in Romania
- Legal advice on choosing the appropriate legal structure
- → Dissolution of a branch in Romania
- Whistleblower Protection & Ethics Compliance
- Anti-Bribery & Anti-Corruption Compliance
- Data Protection & GDPR Compliance
- Sustainability & ESG (Environmental, Social, and Governance)
- Compliance
- Compliance Investigations & Dispute Resolution
- Legal reporting on judicial / regulation updates
- Classification of Activities in the National Economy – NACE Rev. 3 (NACE Update)
- Allocation of the European Unique Identifier (EUID)
- Transformation of a joint-stock company into a SE (European company)
- Transfer of the registered office of the SE to another Member State
- Amendment of the statements regarding the authorization of operation
- Suspension or resumption of activity
- Establishment or closure of secondary offices
- Amendments to the articles of association of the EIG and EEIG
- Amendment of identification data
- Exclusion or withdrawal of partners
- Establishment of local NGOs
- General assistance regarding corporate law
- Business Reorganization & Restructuring Strategy
- Debt Restructuring & Refinancing
- Distressed M&A Transactions
- Corporate Divestitures & Asset Sales
- → Cross-Border Restructuring
- Shareholder & Stakeholder Restructuring
- Employment Restructuring & Workforce Downsizing
- Tax-Efficient Restructuring
- Litigation Support in Corporate Restructuring
- Debt-to-Equity Swaps
- Intercompany Restructuring
- Corporate Governance Adjustments During Restructuring
- Dividend Payment Compliance
- Management Liability Compliance and Advice
- → Cross-border conversion
- Spin-off of a company
- → Spin Off (Partially and totaly spin off)
- → Cross-border spin-offs
- Breach of Fiduciary Duty Claims
- Injunctions and Restraining Orders
- Set up a joint stock company in Romania
- Shareholders Agreement (SHA)
- Corporate Governance
- Shareholders Dispute Resolution
- Mortgage Agreements
- Cross-border Transactions and Commercial Contracts
- → Potential Liability for Corporate Executives
- Foreign Investment Contract Negotiation
- Contract Drafting, Negotiation and Day to day consultancy
- → Legal assistance agreement in Romania
- Joint-venture contract
- Association in participation contract
- Agricultural partnership contract
- Debt assignment contract
- Donation agreement
- Debt recognition agreement
- Maintenance contract
- Lifetime annuity contract
- Non-disclosure agreements (NDA)
- Negotiation of the foreign investment contract
- Agency and distribution agreements
- → Investment agreement
- Mortgage contract
- Day to day legal consultancy
- Due Diligence
- Private Equity
- Divestitures and Spin-Offs
- Joint Ventures
- Memoranda
- Comprehensive legal support for digital businesses
- Terms and Conditions Drafting & Review
- Privacy Policy Drafting & GDPR Compliance
- Cookies Policy Drafting & Compliance
- End-User License Agreements (EULAs)
- Software Development and Licensing Agreements
- Service Level Agreements (SLAs)
- Confidentiality Agreements (NDAs)
- E-Commerce Compliance
- Intellectual Property (IP) Protection for Digital Assets
- Website Disclaimers
- Data Processing Agreements (DPAs)
- App Store and Platform Agreements
- Regulatory services with National Bank of Romania, Financial
- Supervizory Authority and other regulatory bodies
- Guarantee contracts
- Prepayment Agreements
- Pledge agreement on shares
- Pledge agreement on bank accounts
- Pledge agreement on movable assets
- Real estate mortgage contract
- Investment and loan contracts
- Pledge agreement on receivables
- Suretyship contract
- Manager’s guarantee contract
- Escrow agreement
- Corporate governance
- Resolving disputes between shareholders
- Liability of corporate directors
- Mergers and Acquisitions
- → Merger of companies
- → Acquisition Finance
- → Cross-border merger
- → Transaction Financing Agreements
- Share Purchase Agreements (SPAs)
- ShareHolders Agreement (SHA)
- → The partnership agreement
- Share Subscription and Shareholders Agreement (SSHA)
- Convertabl Loans Shareholders (CLA)
- → Business Transfer Agreement (BTA)
- → Asset Purchase Agreements (APAs)
- Integration Agreements
- → Management and Employment Agreements
- Letter of Intent (LOI)
- Post-Closing Agreements
- Legal Opinions
- → Disposals and acquisitions of equity and assets (business transfers)
- Preparing pre deal agreements
International Recognition
International Financial Law Review IFLR1000 2022

For the M&A practice area, the assessment from IFLR 1000 guide includes:
“Excellent service, attention to detail, proactive, knowledgeable.”
“I can use three words to describe them: dedication, credibility and perseverance.”
“Promptness, professionalism, attention to detail and the needs of my company.”
Source: IFLR 1000, 2022
International Financial Law Review IFLR1000 2020

Corporate and M&A, Banking and Finance,
Highly regarded lawyer expertise in Real estate, Restructuring and Insolvency and Banking practice area
This year, the law firm was ranked among the best companies in Romania in Banking and Finance practice area. At the same time, IFLR1000 recognized the results obtained by Pavel, Margarit and Associates Romanian Law Firm within the Corporate practice area. This is the fourth year in a row that the famous publication recognizes the results obtained by the lawyers from Pavel, Margarit & Associates Romanian Law Firm.
IFLR1000 specialists note that Pavel Margarit & Associates specializes in the minerals sector advising foreign mining and development companies on both corporate transactions and project work. The research period saw the firm act on acquisitions, financings and restructurings for international mining groups. It also provided regulatory advice concerning mining explorations and operations in Romania. Elsewhere, work in real estate and financial sectors also kept the firm busy.
At the same time, IFLR 1000 ranked Radu Pavel, the Managing Partner of Pavel, Margarit & Associates Romanian Law Firm, as Highly regarded lawyer for his expertise in Real estate, Restructuring and insolvency and Banking practice area.
International Financial Law Review IFLR1000 2019
Corporate and M&A, Banking and Finance
Highly regarded lawyer expertise in Real Estate, Restructuring and Insolvency and Banking practice area
The guide has recently published the new rankings, valid for the year 2019. Pavel, Margarit & Associates Romanian Law Firm was ranked on top places in ‹‹Banking and Finance and Corporate practice area.
IFLR 1000 ranked Radu Pavel, Managing Partner of Pavel, Margarit & Associates Romanian Law Firm, as one of the most valuable and experienced lawyers in Romania in Banking and in Restructuring and Insolvency practice areas, in cases related to Real estate industry.
IFLR1000 specialists note: Pavel Margarit & Associates specializes in the minerals sector advising foreign mining and development companies on both corporate transactions and project work. The research period saw the firm act on acquisitions, financings and restructurings for international mining groups. It also provided regulatory advice concerning mining explorations and operations in Romania. Elsewhere, work in real estate and financial sectors also kept the firm busy.
International Financial Law Review IFLR1000 2018
Corporate and M&A, Banking and Finance, and Restructuring and Insolvency
Pavel, Margarit & Associates Romanian Law Firm was ranked in ‹‹the Banking and Finance, Corporate and M&A and Restructuring and Insolvency practice areas.
In the M&A space the firm acted on a number of matters in the mining sector including acquisitions and disposals. In the banking space the firm has acted on corporate finance and restructurings. The firm also acted on a number of insolvency cases in the construction and manufacturing industries.

Legal 500 2018
Tier 5 Commercial, Corporate and M&A
Pavel, Margarit & Associates Romanian Law Firm ˜knows all the legal details. The team handles transactional, merger and shareholder matters. Radu-Catalin Pavel provides ˜innovative solutions
Legal 500 2017

Tier 5 Commercial, Corporate and M&A
Pavel, Margarit & Associates is at the top of its game, applying brilliant ideas when needed. Radu-Pavel Catalin, who is client-orientated and an excellent legal advisor, assisted an international investor with a EUR 5MIL purchase of a cold storage facility.
Selected credentials
- Assisted an AIM listed and multi-commodity resource exploration and development company with explorations in multiple jurisdictions, in connection with various corporate and commercial matters essential in order to conclude a prepayment agreement with Mercuria Energy Trading SA, one of the largest trading houses in the world, valued at up to EUR 30 MIL. The deal was the most important transaction in the mining field in Romania, which involved this sort of financial agreement in the past years spanning over three jurisdictions: Romania, the U.K. and Switzerland.
- Assisted the first car sharing platform in Romania as Airbnb for cars or car rental directly from local owners in connection with all commercial and corporate governance matters regarding the establishment and operations in Romania.
- Assisted a global medical device company and leader in new product development and medical education in orthopedics located in Florida, USA with advice on granting benefits to HCP and HCO in connection with the sale of medical goods such as discounts and permanent loans (of devices and instruments) under the Romanian Law.
- Assisted a UK mining company, in the acquisition of 20% of a mining company in Romania. The firm drafted and negotiated the Sale and Purchase Agreement, the Increase Share Capital Agreement and a legal due diligence report. In addition to that, The firm assisted with the preparation and the negotiation of the security documents of the transaction.
- Assisted and advised one of the largest retailers of electric vehicles in Romania with their operations in Eastern and Western Europe, with their entry into the largest retail stores and with the acquisition process of the 50% of shares in a company.
- Assisted a major Romanian iron and steel manufacturer in a group restructuring process following the acquisition of an NPL real estate portfolio from a private equity fund. Our services included the merger scenarios, preparation of a legal due diligence report, drafting and negotiating the transaction documents, corporate approvals, regulatory matters. We assisted in all stages of the deal, including pre-closing, closing and post-closing matters and various corporate and commercial matters (including the restructuration process, intergroup commercial agreements, advice and assistance on corporate governance and compliance issues).
- Assisted an U.S. global provider of critical weather intelligence to businesses, government agencies, and consumers specialized in dual-polarimetric radars, meteorological detection, visualization and data distribution systems provider, including integration services for meteorological organizations worldwide, in a cross-border transaction. In terms of the joint venture agreement, our role was to advise on the rights and obligations arising from the aforementioned regarding the installation and operation of weather radars in Romania and the corporate, commercial and regulatory matters implied.
- Assisted a multilevel marketing (MLM) consulting company in concluding a joint venture agreement with an IT development company for creating a social network platform that uses customized and innovative tools for networkers. We advised on the structuring and documentation of the joint venture (contribution agreements, shareholders agreement). The services provided also involved assistance with the corporate approvals, corporate governance and compliance matters, drafting the terms and conditions for using the service, regulatory framework and day-to-day corporate issues.
- Assisted an important African tea trader in Romania in a cross border project (Romania and South Africa), in the acquisition of 50% of the company shares from a Romanian investor. Our services included drafting and negotiating the sale-purchase agreement, the increase of share capital agreement, due-diligence of the company before total takeover. We advised on the structuring, preparation and negotiation of all the transaction documents.
- Assisted a major real estate developer in Spain, with international operations, as well as on the Romanian market, with matters pertaining to corporate and commercial field including the dissolution and liquidation of the Romanian subsidiaries.
- Assisted a leading UK company, with operations in mineral resources and gold exploration, in the 100% acquisition of a Romanian gold exploration company. We advised on the structuring, preparation and negotiation of all the transaction documents, in one of the leading M&A transactions successfully concluded in the gold exploration industry, in the past years. It was a cross border transaction spanning two jurisdictions Romania and the U.K.
- Advised and assisted a leading operational mining exploration and development company in Romania in a group restructuring process, following the merger through a former Romanian state-owned mine. In the first phase, we assisted in relation to the transfer of shares operations, prior to the conclusion of the merger. In addition to that, we advised with corporate matters such as voting rights, compliance regarding the frequency of general meeting of shareholders and protection of the majority shareholders rights. In the second phase, our role was to assist with the successful conclusion of the restructuring process, from a Corporate and M&A standpoint. Lastly, we advised on all post-closing matters, analyzing the implications of the merger and the takeover of the debts of the former state-owned mine company.
- Assisted and advised the shareholders of several Brewery Houses in Austria, in establishing their operations in Romania. Our services included establishing a Brewery House company with all related commercial, corporate governance and regulatory matters regarding their entering into the Romanian market.
- Advised an important Romanian Bank listed on the Bucharest Stock Exchange, in a complex procedure of dissolution and voluntary winding up of one of the bank subsidiaries.
- Assisted a leader in the logistics service industry in Europe, with main offices in Greece, in connection with all commercial, corporate governance and regulatory matters regarding the establishment and operations of its subsidiary in Romania.
- Assisted one of the major private higher education institutions of public interest, in all corporate and regulatory matters in order to develop a construction project, consisting in building in the student campus.
- Assisted a top Romanian producer of canned vegetables, in a share acquisition transaction. We advised on all corporate matters pertaining to the capital increase procedure, in order to bring on a new investor in the company, advising throughout the entire process, including the post-closure conditions.
- Assisted a major Romanian mining company that operates polymetallic mining in Suceava county, northern Romania, regarding the legality, validity and enforceability of a Share Pledge Agreement to be concluded in order to secure a multi-million debt.
- Assisted a major Romanian mining company in a multi-million USD transaction regarding the sale-purchase of ore concentrates.
- Assisted a top international company performing activities related to mineral resources, in several multi-million EUR loan agreements. The agreements were concluded between several member companies of the same group. We revised and negotiated the terms and conditions of the loan agreements from a commercial perspective, drafted the loan agreements, the shareholders decision for approving the loan agreements, reviewed the companys documents necessary for the signing of the loan agreements and drafted several legal opinions with respect to the signing of the loan agreement.
- Assisted a top 3 Romanian supermarket specialized in the commercialization of products for children regarding several lease contracts with one of the largest malls in Romania. We revised the contractual clauses of the lease agreement, identified and negotiated the abusive clauses, mitigating all risks arising from the deal.
- Assisted a major Romanian heavy industrial manufacturer, in negotiating and concluding the diminishing of the monthly costs of the loan agreement contracted with a major Romanian bank. We analyzed all the legal provisions of the loan agreement, applicable legislation, doctrine and judicial practice, to conceive, implement and monitor the best strategy for our Client, so that he could obtain the reduction of the monthly costs represented by the loan rate either by denomination of the contract or by reducing the interest, determined by the bank on a discretionary basis at a very high value.
- Assisted a top Romanian iron and steel manufacturer with respect to the legality, validity and enforceability of an Assignment Agreement. Our role was to negotiate the terms and conditions of an assignment agreement for our Client.
- Assisted and represented a group of companies: a Romanian mining company, and two different AIM listed mining and resource development companies, in drafting and negotiating the clauses of an agreement having as object taking over of debt and pledge over shares, signed between the parties and another shareholder. The law firm provided legal assistance and advice to the group of companies and offered legal solutions to prevent the risks the group was exposed to and made proper recommendations so the client fulfilled his target.
- Advised an AIM listed mining and resource development company, in negotiating the clauses of a pledge of shares agreement signed with a shareholder. Our role was to ensure the position of the Client respectively in case of nonfulfillment of the obligations assumed by the shareholder, the Client could enforce the pledge. The value of the agreement amounted to over EUR 700,000.
- Assisted and represented a leading Romanian mining company with the legal actions against one of its shareholders arising from an assignment agreement. We provided legal assistance with regard to the contractual and legal possibilities of the creditor, to act against the Client, as Guarantor and Debtor, due to non-fulfillment of the obligations undertaken by the Client through the Agreement, respectively the payment of an outstanding debt. The value of the assignment agreement closed was amounting USD 2.5 MIL.
- Advised a branch of an AIM listed mining and resource development company, in reviewing a share sale purchase agreement closed between one of its shareholders and another company in the group. We provided legal assistance to the Client with reviewing the obligations undertaken through the Agreement, by each party, in order to establish the conditions under which the price of the Agreement was owed. The contract value was EUR 1.2 MIL.
- Assisted and represented a major Romanian construction company, regarding companys day-to-day business operations, revising the contracts signed by the company with the beneficiary of the construction works, with regard to the rights and obligations of the parties, drafting the sale and purchase agreements having as object purchase of equipment and machinery amounting over EUR 700,000.
- Assisted and represented a major Romanian iron and steel wholesale warehouse and manufacturer in transferring the business and the assets from another company to his portfolio in a transaction in value of around EUR 1,3 million. Our role was to secure the transaction, draft the sell purchase agreement for transferring the assets of the seller to the client assets.
- Assisted and represented the subsidiary of one of the top Spanish construction machinery rental companies, with compliance issues. Assisted the client in companys day-to-day operations on various commercial and corporate matters, advising in various compliance issues, granting legal opinions regarding the applicability of Romanian legislation and so on.
- Assisted and advised an international investor, with an extensive due-diligence legal report for the acquisition of a Romanian cold storage, partially built with financing from The Payment Agency for Rural Development and Fishing, valued at EUR 5 MIL. We analyzed if the financing contract with The Payment Agency for Rural Development and Fishing was still in force, the stage of the completion of the construction works, the validity of the construction permits, the interdiction during the monitoring period of the project by the State Agency. The law firm had to prevent the investor about the risks exposed to and to make the proper legal recommendations.
- Assisted a major Italian energy player in the acquisition of a photovoltaic Project of 2,45 MW in Braila County in Romania, valued at EUR 400,000. We assisted and represented the buyer, drafting the sell purchase contract of the shares and with compliance of the legal documents. The acquisition was conditioned by the obligation of the seller to obtain all the authorizations required and the license of energy supplier.
- Assisted and represented a pharmaceutical wholesaler and warehouse, in companys day-to-day business operations, including interpretation of the provisions mentioned in the Guide of good practice for wholesale distribution of medicine issued by the National Agency for Medicines and Medical Devices, the methods of monthly reporting and procedures for suspension of the license for wholesale distribution of medicine, compliance on various legal issues, interpretation of specific legislation, corporate documents drafting, reviewing sale purchase agreements, advising on specific regulations concerning import and export of the medicines, transfer of manufacturing license, manufacturing under license and so on.
- Assisted, the sole shareholder a German bank in the process of dissolution of one of the subsidiaries operating in the financial services.
Assisted an US wired telecommunications carrier company on the incorporation of the Romanian branch.
Press Coverage
Top Legal Expertise in Corporate, Commercial and M&A
The Romanian Law Firm Pavel Margarit and Associates offers top-tier legal services in the fields of Corporate Commercial and Mergers &Acquisitions in Romania with a team of corporate lawyers in Romania who efficiently address the specific needs of our clients.
Our team of business lawyers in Romania and lawyers specialized in Trade Register proceedings in Romania assists you throughout the entire process of establishing a company in Romania, from drafting the articles of association in Romania to obtaining the registration certificate and completing the procedures for registration in the Trade Register in Romania, we ensure that all legal aspects are covered in accordance with the Law no. 31/1990 on companies.
If your company requires subsequent changes, our lawyers specialized in Trade Register proceedings in Romania and business lawyers in Romania are ready to manage the necessary registrations. These include the change of company name in Romania, modification of the activity object (NACE codes in Romania), appointing the administrator in Romania, withdrawal of the administrator in Romania, and assignment of shares in Romania. These procedures are essential to ensure compliance with legal regulations and to update the registration certificate in Romania and it is recommended that a contract lawyer in Romania or corporate lawyers in Romania from our specialized team of commercial lawyers in Romania shall offer legal assistance throughout any formalities at the Trade Register.
With extensive experience in all stages of the Mergers and Acquisitions in Romania, our commercial lawyers in Romania provide expert legal advice until the transaction is finalized. Whether it involves due diligence in Romania, drafting and negotiating commercial contracts in Romania, divestitures and spin-offs in Romania, resolving disputes between shareholders in Romania, wrongful termination of contracts in Romania or drafting memorandum, we ensure that all aspects are handled with professionalism. Our commercial lawyers in Romania work closely with our clients to protect their interests and achieve strategic objectives.
Beyond company formation in Romania and modifications, our business lawyers in Romania or contract lawyer in Romania offer comprehensive services for managing the day-to-day operations of companies, including establishing and deregistering working points in Romania and ensuring that all necessary procedures are handled at the Trade Register. Our corporate lawyers in Romania are available to assist clients with all legal aspects related to the functioning and development of their business.
The Romanian Law Firm Pavel Margarit and Associates prides itself on a high level of expertise and professionalism in providing commercial law legal services in Romania. Over the years, our lawyers specialized in Trade Register proceedings in Romania have assisted numerous companies in Romania and abroad, offering personalized legal solutions tailored to the specific needs of each client. We believe in the importance of attention to detail and collaboration with experts to ensure remarkable results and minimize legal risks for our clients.
By combining extensive knowledge in Corporate Commercial M&A in Romania with a practical, result-oriented approach, The Romanian Law Firm Pavel Margarit and Associates continues to be a trusted partner for all your business’s legal needs.

























