A local and an international law firm were the legal counsels that helped close the biggest transaction in the Romanian banking system in recent years, Italian group UniCredit’s takeover of 45% of UniCredit Tiriac Bank from billionaire Ion Tiriac.

The two law firms that worked on the deal were Austrian Wolf Theiss and Romanian PeliFilip.  Wolf Theiss assisted UniCredit Bank Austria in the process, with two teams, one in Vienna and one in Bucharest. The team in Bucharest was coordinated by Ileana Glodeanu, Partner for Mergers & Acquisitions with Wolf Theiss Romania.

PeliFilip was the legal counsel for Tiriac Holding. Nine lawyers worked on the deal. They were coordinated by Cristina Filip, one of the firm’s founding partners.

UniCredit announced on Friday that it closed the takeover of a 45% stake in UniCredit Tiriac Bank Romania, one of the country’s top five banks, from Romanian investor Ion Tiriac. The Italian group increased its stake to 95.6% of the bank’s shares. The two parties didn’t disclose the value of the transaction.

UniCredit buys out billionaire Ion Tiriac’s stake in Romanian subsidiary

Andrei Chirileasa, andrei@romania-insider.com