“Boştină and Associates” has won the awards for capital markets and energy, at Finmedia’s „Avocaţi de Top” (Top Lawyers) Gala, an early event that took place on June 29, 2011 at Marriott Hotel in Bucharest.

The jury noted that „Boştină and Associates” advised on the successful completion of the first dispute over a capital market matter, i.e. ArcelorMittal’s hostile takeover attempt against the Romanian port operator, Comvex S.A., which was overturned. Besides the novelty of the matter, the case was important for clarifying certain important issues relating to mandatory takeover public offerings and the measures issued by the National Securities Commission in respect to such offerings.

Moreover, Boştină and Associates advised SIF Banat-Crişana on the particularly complex disputes over the recognition of a joint action taken by some of the Company’s shareholders, amid heated debates on whether the 1% threshold for interests held in financial investment companies should be maintained or scrapped.
Last but not least, Boştină and Associates advised on the listing of 9.84% of Petrom’s shares.

As to 2010’s energy deals, the jury noted that last year, „Boştină and Associates” advised on the largest M&A energy deal, in which the County Council of Giurgiu sold 100% of S.C. TERMOELECTRICA GIURGIU S.A.’s share capital to Global Internaţional 2000. The objective of the deal is the development of an electricity and thermal power plant on the already existing factory’s structure. Furthermore, at the other end of the country, Boştină and Associates advised on the building of a new thermal power plant and the setting up of a new heating company in Suceava, an investment worth € 65bn.

Additionally, Boştină and Associates assisted on one of the most interesting wind power projects, in respect of which the European Bank for Reconstruction and Development (EBRD) and IFC (a member of the World Bank Group) extended a €115million loan to Cernavodă Power, for the development of two wind farms in Romania. This is the first project of its kind funded by loans from the abovementioned financial institutions.

Moreover, Boştină and Associates advised on one of the most remarkable wind projects, developed by S.C. ALPHA WIND S.R.L. (Verbund Renewable Power) and having a capacity of 150 MW.