bpv GRIGORESCU advises on the sale of Best Distribution (part of RTC Holding) to the Greek company CD Media15 November 2007
RTC Holding has finalised the negotiation for the sale of Best Distribution, the specialised distribution and retail division of video games and consoles to CD Media a leading player in the industry. bpv GRIGORESCU was the parties’ legal adviser for the transaction.
Partner Catalin Grigorescu and associate lawyer Raluca Ittu from bpv GRIGORESCU law firm advised RTC Holding and CD Media on their recent negotiations regarding the sale of BEST Distribution. According to the agreement, CD Media, a regional player in video games and consoles industry took over 40% of Best Distribution’s shares and retains the option to acquire the remaining 60% within 6 months. This is the second transaction on which RTC turns to bpv GRIGORESCU for legal advice after this year sale of Pay Store SRL division to Paypoint, the leading cash and internet payment company in UK and Ireland.
The legal advice provided by bpv GRIGORESCU to both seller and buyer included contract drafting and review, assistance during negotiation and closing as well as in the registration phases of the transaction.
“We are very pleased to assist this second large transaction of RTC Holding and our cooperation until now demonstrates that our commitment to knowing our client’s business and to building an excellent partnership is a good recipe” says Managing Partner Catalin Grigorescu. He adds that “As opposed to the majority of our projects, the fact that we were engaged by both the seller and the purchaser, as joint adviser, put us in the position to rather guide and mediate the relationship between the parties to the transaction, than to defend a party’s position and interests“. With respect to the firm’s practice “Corporate and M&A transactions remain an area of focus and further development for us. We built a good team of lawyers with an extensive experience in Corporate and M&A deals and we are keen to exploit the market potential in this field. As a result, we expect this department to contribute by more than 40% to bpv GRIGORESCU overall turnover this year, which we project to be slightly over EUR 2 million”.