bpv GRIGORESCU acted as legal advisor for the Romanian company BIP Grup Romania on a USD 3.3 million share deal in which BIP was acquired by the British company International Marketing & Sales Group Limited (IMSG)24 January 2008
BIP Grup Romania, a leading Romanian sales and marketing outsourcing company, was advised by bpv GRIGORESCU law firm on the share purchase agreement concluded in December 2007 with the UK-based company IMSG (leading UK company in sales and marketing services). The legal advice provided during negotiation and contract conclusion covered corporate, M&A and tax issues.
Besides the assistance with negotiation of the share purchase agreement, the legal advisory services provided by bpv GRIGORESCU also covered issues relating to the management agreements concluded with the management of BIP Grup Romania. It was specifically requested by the acquiring company that the present management will continue its mandate for the following 5 years due to the nature of the business in which both seller and buyer are active.
According to the contractual terms, the transaction between BIP Grup Romania and IMSG is a staged process and, as a result, the acquisition will be completed in 3 years with the value of the final purchase price depending upon BIP Grup Romania financial results.
The team of lawyers that worked on this transaction was lead by Alexandru Rusu, Partner with bpv GRIGORESCU.
“I am very satisfied with the legal work supplied by bpv GRIGORESCU team of lawyers and I think that much of the transaction success was due to their professionalism and dedication. Their expertise in M&A transactions and no-nonsense approach was key in choosing them for this deal”, says Eugen Saulea, General Manager of BIP Grup Romania.