2022 was packed with challenges, but as the year-end draws closer, we realize that these have only made us stronger and more determined. Our team had a professionally rewarding year, and we are thankful for their exceptional work and strong commitment towards our clients. Also, we are grateful to our clients for all the opportunities to work together and to bring their projects to fruition.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) successfully represented ENEL (E-Distributie Banat) in a complex tax dispute relating to the possibility of the taxpayer deducting the value of tax depreciation for tangible assets (electricity grid connectors) acquired from the company’s clients through transfer, for the calculation of corporate income tax. Initially, tax authorities rejected this possibility based on the way in which the company acquired the connectors (free of charge) and considering the existence of accounting depreciation rules different from the tax depreciation rules that were used.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) successfully assisted International Game Technology PLC (IGT), one of the global leaders in gaming, in a multi-jurisdictional transaction for the acquisition of iSoftBet, an online games supplier and content aggregator. The transaction included the jurisdictions of Cyprus, the Czech Republic, Malta, Romania and the UK and the total deal value amounted to approximately EUR 160 million.
IFLR1000 has released the final groups of rankings for the 2022 edition and NNDKP has maintained a leading position with high rankings in 4 areas of practice:
Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted, since June 2020, the Beverage Producers Alliance comprised of the Brewers of Romania Association and the Romanian Soft Drinks Association in setting up a deposit return system (DRS) for single-use primary packaging. The assistance also included establishing and obtaining the accreditation of RetuRO SGR as sole administrator of the Romanian system.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) advised PepsiCo in the transaction to acquire a minority shareholding in AQUA Carpatica, the Romanian spring water brand owned by Carpathian Springs SA company, controlled by the businessman Jean Valvis.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted Isosport, the world market leader in the field of plastic composite materials for the ski and snowboard industry, in a multi-jurisdictional transaction for the acquisition of Novo Tech Group, a leading manufacturer of high-quality plastic products. The transaction involved two production sites located in Poland and Romania (Oradea) which Novo Tech Group operates, with an additional sales location in Belgium. Through this deal, Isosport is strengthening its leading role as a market leader and industry specialist, with a growth strategy focusing on diversifying its business and on identifying and successfully occupying niche markets.
Nestor Nestor Diculescu Kingston (NNDKP) acted as legal advisor for the syndicate of banks granting a financing facility worth EUR 347 million to Swiss-based Ameropa Group. The syndicate of banks was composed of Banca Comerciala Romana SA (BCR) and Raiffeisen Bank SA as joint Initial Mandated Lead Arrangers and Bookrunners, together with ING Bank N.V. Amsterdam – Bucharest Branch and UniCredit Bank S.A., as Mandated Lead Arrangers. BCR acted also as the Documentation, Facility & Security Agent.
Nestor Nestor Diculescu Kingston Petersen (NNDKP) assisted ExxonMobil, one of the world’s largest publicly traded international oil and gas companies, with finalizing the last steps in selling to Romgaz its 50% participation in the Neptun Deep offshore block in the Black Sea. With the sale being materialized, this is one of most important M&A transactions in the energy sector ever rolled out on the local market that reshaped the oil & gas industry in Romania.
NNDKP received new distinctions at the 12th edition of the “Avocati de Top 2022” Gala, which recognizes lawyers active in various business law areas for their professional achievements throughout 2021, event organized by Finmedia and Piata Financiara.
