RMDT counsels numerous entities in connection with the privatization of
government-owned enterprises. Our experience and unparalleled expertise
in this area, as well as in complex corporate and international issues,
has enabled us to represent the buyers in six of the fifteen largest
privatizations in Romania since 1989. While helping to reconcile
divergent business, accounting, employment, political and social
matters, we provide our clients with the required assistance in the
development and implementation of privatization programs. As part of the
commercialization of state-owned enterprises, we have not only assisted
in drafting the regulatory framework for the operation of various
sectors, but have also drafted numerous regulations created specifically
for those problems arising during the crucial transition period.
As a result of RMDT's diversified practice, our privatization experience
extends deep into the petrochemicals, utilities, oil & gas, real estate,
telecommunications, automotive, mining, metal, steel, rubber, aluminum
and retail industries. Indeed, the firm has provided privatization
advice to virtually every sector of the Romanian economy, irrespective
of the complexity of the transaction and/or the client. RMDT's well
established experience in key practice areas such as mergers &
acquisitions, tax, public policy, corporate & securities, banking &
financial services, real estate and infrastructure redevelopment &
project finance has enabled the firm to represent numerous foreign
investors, including the largest multinational investors from the United
States, Germany, Greece, Italy, Cyprus and Turkey.
RMDT's position as a market leader in the area of privatizations is
further buttressed by its expertise in public affairs counseling, which
is widely regarded as the finest and most successful service of its kind
in the country. Among the highly skilled professionals servicing the
privatization process are Mr. Valentin Ionescu, former Minister of
Privatization and Economic Advisor to former President Emil
Constantinescu. Mr. Ionescu drafted various privatization laws and
regulations and other pieces of vital legislation required to
effectively manage Romania's privatization efforts. Along with the added
insights of Mark A. Meyer, Esq., the Firm's managing partner of the
Central and Eastern European Practice Group, RMDT not only oversaw the
largest foreign investment made in Romania since 1989, through the
acquisition and privatization of RomTelecom, but continues to advise the
most noteworthy foreign investors in high-profile Romanian
privatizations, including the current proposed privatization of Petrom,
Romania's largest oil & gas state enterprise.
Aside from the Firm's privatization and public affairs counseling, RMDT
has successfully and efficiently advised the buyers of numerous
state-owned enterprises due also in part to its close interaction with
the Romanian Government. The Firm developed the policy framework and
drafted the legislation necessary for the conversion of the Private
Ownership Funds into mutual funds. RMDT attorneys have also acted as
legal advisors to the Post-Privatization Fund, which includes funding
from PHARE, the EBRD and other private-source capital. As a sign of
confidence in RMDT's efforts and expertise in the area of privatization,
the Government of Romania selected the Firm's Wall Street office as the
location for its Center for Privatization in 1995.
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