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Rosia Poieni Copper Mine - CupruMin S.A. Privatization

Mararu & Mararu has assisted Toronto-based investment bank BayFront Capital Partners and its SPV Roman Copper Corp. throughout the privatization process of Cupru Min SA Abrud, the state-owned operator of Rosia Poieni world-class copper deposit with evaluated reserves of 900 million tones (60% of Romania’s copper reserves) and a current commercial value of around Eur 5.7 billion, Mararu & Mararu’s client outbidding three competitors, Australian OZ Minerals, Dundee Holding and Elatzite Med AD at an accepted offer of $266 million in the open outcry organized this March, 2012 by the Romanian Ministry of Economy, Trade and Business Environment, acting through the Office for State Ownership and Privatization in Industry.

Farmers Agry-Energy

Greenfield $ 150 Million investment in multiple sites integrated bioethanol production facilities and farming (agriculture on over 20,000 hectares, and live stocks), an investment expected to create over 2,500 new jobs throughout 2011-2012. Subject to green certificates and carbon credits, the operations assume corn conversion into fuel grade ethanol, carbon dioxide capture, methane gas based renewable energy and bio-diesel fuel components.

The project, lead by Mark Robertson, focused on:

  1. Assistance for the pre-financing and guarantee arrangements with EximBank USA and the Overseas Private Investment Corporation (OPIC);

  2. Assisting throughout initiatives and discussions with the Romanian Ministry of Agriculture and Rural Development and the Romanian  Ministry of Development and Tourism for required infrastructure facilitation (transportation, utilities, irrigations, decontamination etc.);

  3. Assistance for drafting notifications for incentives with the European Commission by the Romanian Government;

  4. Assisting in various meetings with mayors and local councils in project development target areas;

  5. Verifying zoning/cadastre documentations;

  6. Drafting memoranda, opinions, assessment reports, agreements for land concessions, land purchase and joint ventures/partnerships, land use, know-how/technology transfers, corporate set-up, technology import regulations, regional state aid schemes, employment/labor regulation, waste regulations, green energy incentives etc.


ENERGY LAWYERS ROMANIA

RENEWABLE ENERGY LAW ROMANIA

MINING LAWYERS ROMANIA

MINERAL RESOURCES ROMANIA

 



Mararu & Mararu provides a full range of legal advisory services on conventional or renewable energy and natural resources companies. We advised on some of the biggest domestic investment opportunities on various aspects of the due-diligence and investment including mergers and acquisitions, anti-trust practices & state aid schemes, providing various support activities, specific mining, energy, gas & oil regulatory compliance, privatization support and EU law.

The specifics of energy & natural resources enterprise operations require these operations to be adapted not only to energy and natural resources law but also to public procurement and antimonopoly law. European law regulations also have an important effect on the legal situation of power enterprises.

We draw up legal analyses and provide assistance with privatization transactions, mergers and acquisitions, and the restructuring of firms in the energy & natural resources sectors. We advise on the privatization and acquisition of companies  project financing, greenfield or brownfield investments, environmental aspects and operation.

ICEMENERG (C.N. Ttranselectrica) - V2 Renewable Energy S.L.

Our law firm had advised upon a strategic consulting and advisory joint-venture between the Energy Research and Modernization Institute (ICEMENERG), a branch of National Company Transelectrica SA, and V2 Renewable Energy S.L, Spain, for multimillion Euro green energy investments in Romania in research, development and production, by major Spanish green energy companies such as Gesmad International, Avente Genera, and Red Electrica International, implicating promotion of energy services and of the ESCO type companies to increase the energy efficiency in industry, information, promotion, transfer of the best practices of encouragement of RES in public buildings and residences, monitoring the RES impact on safety in supply, environment protection, economic increase, competitiveness and employment, monitoring of impact of small capacity RES systems on safety in supply, economic increase, competitiveness and employment protection, elaboration of an information guide for companies, authorities and public with the best success practices in using small capacity RES systems, improving energy efficiency and the rational use of energy on the regular monitoring of market development basis through labs for households appliances check testing, as well as biomass utilization in Romania.

1,000 MW Tarnita-Lapusesti Hydro-Power Plant

Tarnita-Lapusesti Hydro-Power is a brownfield investment project for the construction of an accumulation lake of 10M cubic meters of water, and a dam with 4 hydro-aggregates turbine-pumps, each of 250 MW, estimated construction time from 5 to 8 years, a multilateral cooperative investment for the biggest hydro-power project in Romania for the past 20 years expected to create 4,000 new jobs.

Our strategic advisor, Mr. Mark Robertson had assisted the Government with due diligence, analysis, reports and recommendations upon the proposed legal solutions for project implementation, the financial and legal diagnostic on the in-kind contribution proposed by Hidroelectrica, the preliminary valuation of the in-kind contribution of Hidroelectrica, the set of pre-qualification criteria for potential investors, and the proposal of the solution for financing the project.

Other particular work on this project included revision of legal and regulatory framework for the operation of the plant in Romania, assistance for the pre-financing and guarantee arrangements with EximBank USA, the World Bank, the Overseas Private Investment Corporation (OPIC) and other major investment funds, assistance throughout discussions with the Romanian Ministry of Economy, Trade and Business Environment, the Office for State Participations and Privatization in Industry (OPSPI), the Romanian Ministry of Development and Tourism and the consortium assigned by the Ministry of Economy for the selection of investors and constructors, drafting notifications for incentives with the European Commission by the Romanian Government, advising throughout meetings with local authorities in Cluj county (project location), reviewing zoning/cadastre documentations, and drafting other various memoranda, opinions, assessment reports and agreements etc.

Media Coverage

  1. BUSINESSWIRE: www.businesswire.com/news/home/20120409005991/en/Roman-Copper-Update-Acquisition-Romania’s-Cupru-Min

  2. BIZLAWYERS: www.bizlawyer.ro/stiri/english/roman-copper-accepts-all-conditions-meaning-cupru-min-privatization-can-be-done

  3. TDCanada: www.tdcanada.wallst.com/tdw/canada/public/markets/news/markets.news.story.asp?docKey=100-100b5604-1&source=BIZ&newsType=businessNews&bnSourceCP=&bnSourceTR=&bnSourceNW=&bnSourceBW=&bnSourceCNW=&bnSourceCCN=&country-language=

  4. METALNEWS: www.metalsnews.com/Metals+News/BusinessWire/BusinessWire/NEWS559104/Roman+Copper+Provides+Update+on+its+Acquisition+of+Romanias+Cupru+Min.htm

  5. REUTERS: http://uk.reuters.com/article/2011/05/02/idUKLDE74106F20110502

  6. EBRDRENEWABLES: http://ebrdrenewables.com/sites/renew/countries/Romania/

  7. ECOMAGAZIN: www.ecomagazin.ro/o-firma-americana-vrea-sa-investeasca-150-mil-dolari-in-energie-si-agricultura-in-romania/

For further information or a free initial consultation on your case contact us by phone at + 4 031 421 5150 or by email at office@mararu.com.

 
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