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Cristina Man

Managing Associate

Cristina Man is a business lawyer specializing in Corporate, Commercial, Mergers and Acquisitions, and Real Estate. She advises foreign and domestic clients on a wide range of issues related to the development of their business in Romania. Christina has a creative approach and has been assisted by clients in various industries such as gas and oil, agriculture, IT & C, health care, finance and insurance and heavy industries.

Cristina acts for both public and private companies, national and international, and has advised on mergers and acquisitions across a wide range of commercial activities. Cristina provides legal assistance in areas including structuring transactions, drafting and coordinating due diligence analysis, structuring, drafting and negotiating transaction documents in matters pertaining to company takeovers and dissolutions, business transfer deals, shareholders' day business.

Additionally, she has experience in advising local and international clients on complex real estate transactions. She has been involved in various projects advising on due diligence, including title research, drafting and negotiating transaction documents and implementing aspects. She has experience in both residential and office projects, advising on sale and purchase, but also lease or business takeover type of deals.

Cristina has gained considerable experience in the capital markets sector, as part of the team that represented the Romanian national gas company in terms of dual listing on the Bucharest Stock Exchange and the London Stock Exchange (GDRs), the largest listing on the public market in Romania to date.

LANGUAGES

Romanian - English - Hungarian - French - Spanish

 

EDUCATION

2010-Bachelor of Laws (LL.B.), Faculty of Law, University of Bucharest

Latest deals

Cordia companies, part of Futureal Group (CC)
Corporate & Commercial

We provide day-to-day legal assistance on a wide range of corporate and commercial matters in relation to the business activities of Cordia companies in Romania. Our legal advice covers issues from corporate approvals of various real estate acquisitions made by Cordia companies, trade agreements, general trade register assistance, corporate changes such as equity capital increases by debt to equity swaps, to planned start-ups structuring etc.

World Class Titan (RE)
Real Estate

Stratulat Albulescu Attorneys at Law assisted World Class Romania, the leader in the fitness industry in Romania, with the acquisition of a new fitness club within the Titan Shopping Gallery in Bucharest. The acquired fitness location previously called "Titan Fitness Club" is now owned by World Class Romania and will be rebranded as "World Class Titan Park". The new fitness club covers almost 3,000 sq. m. of aerobics, fitness and cycling studios, as well as functional training areas. More than 1,200 active members enjoy the facilities made available by the fitness club.

Our Company assisted World Class Romania from the beginning of this project, with the structure of the transaction, drafting the full package of acquisition documents, then advising on all legal aspects of the transaction. We have also provided the necessary legal assistance for the signing of the transaction documentation and the successful closing of the acquisition.

The dedicated team from Stratulat Albulescu Attorneys at Law advising on this transaction included Partners Silviu Stratulat and Ramona Iancu and Associates Catalina Oancea and Silvana Zecheru.

Stratulat Albulescu Attorneys at Law is a young and dynamic Romanian law firm providing legal advice in all business areas and in all areas of Business Law and Dispute Resolution in Romania. Stratulat Albulescu Attorneys at Law team is composed of lawyers who are role models in their disciplines. Our firm works in close co-operation with highly-respected law firms throughout Europe and elsewhere and has extensive experience in cross-border transactions, providing legal advice in English, French, Italian, Romanian and Spanish.

UPC/Orhidea (RE)
Real Estate

Stratulat Albulescu Attorneys at Law assisted UPC Romania on the lease of a 6,000 square meter premises in The Bridge 2 Class A building, currently under construction in the Orhideea area of ​​Bucharest. The new UPC Romania office will be the headquarters of the company, thus consolidating operations from two locations, offices from North Side and Sema Park, starting with 2019.

The firm's involvement encompassed all aspects of the deal, including the revision and negotiation of the lease agreement with Silviu Stratulat, Managing Partner and Associate Alex Bumbu having the largest contribution of the dedicated team.

UPC Romania, the second largest television operator in Romania, offers high-speed Internet services, cable and satellite television, and telephone services to 1.29 million customers. The company has more than 1,200 employees and is one of the main foreign investors - the investment level on the local market of about 1 billion euros, becoming one of the largest direct American investments in the country. It is a local branch of Liberty Global, the American group being the world's largest international cable communications company.

Real Estate is a leading practice area at Stratulat Albulescu Attorneys At Law. The Firm provides assistance on real estate issues to developers, contractors, engineers, architects, property funds, banks and other financial institutions in relation to the acquisition and disposal of single assets and portfolios; mortgage, mezzanine, and construction financing; leasing on behalf of landlords and tenants; joint ventures; real estate litigation; environmental issues and land use and development.

By collaborating with the strong Corporate and M & A, Litigation and other business law groups in the firm, where necessary, Stratulat Albulescu is able to successfully advise on any legal issues no matter how complex that arise in a transaction so as to help produce commercially sensible solutions .

Wirecard - Provus (M&A)
Mergers & Acquisitions

Stratulat Albulescu Attorneys at Law advised the German group Wirecard on the acquisition of Romania's leading payment processor and technology service provider Provost from the Polish private equity investor Innova Capital. The acquisition was completed on 29 February 2016 and also involved the acquisition of Romcard and Supercard Solutions & Services, the two Romanian subsidiaries of Provus. A cash purchase price of EUR 32m has been agreed.

In the acquisition process, Stratulat Albulescu Attorneys at Law conducted the due diligence investigation and provided legal advice on the Romanian law aspects involved by the transaction. The firm worked closely with a team of lawyers from Fieldfisher in Düsseldorf and London, who coordinated the acquisition and led the negotiations on behalf of Wirecard.

Provus supports companies in outsourcing, acquiring and card processing, e-commerce payment transactions and point-of-sale (POS) operations. Its customer base includes major Romanian banks in addition to significant telecommunications and retail players. In addition, Provus has worked with the Romanian government in the digitization of health and payment cards.

Wirecard is a software and IT specialist for outsourcing and white label solutions for payment processing and issuing products. The acquisition of Provus is part of Wirecard's expansion strategy in Eastern Europe.

 

FROALA (M&A)
Mergers & Acquisitions

Stratulat Albulescu Attorneys at Law acted as advisors to the seller at the shareholders' exit of the Romanian tech start-up Froala, whose 6000 clients in 110 countries worldwide include giants such as Apple, Samsung, Toyota, Amazon and Reuters. Froala is best known in the tech world thanks to their web editor WYSIWYG (What You See Is What You Get).

The Idera, Inc., US based software company, has an annual revenue of around USD 120 million (src: Profit.ro)

The Firm (SAA) advised Froala's shareholders throughout the transaction, including assisting with negotiating and executing the share purchase agreement, as well as assisting with completion formalities.


 
 

First Property/Maestro (CC) (M&A)
Corporate & Commercial, Mergers & Acquisitions

Stratulat Albulescu Attorneys at Law assisted First Property Group plc, a property fund manager and investor with operations in the UK, Poland and Romania, in conjunction with a club of investors, on the acquisition of the MAESTRO BUSINESS CENTER Office Building located in Cluj -Napoca, Romania. First Property Group plc is an award winning property fund manager and investor focusing on a high yielding commercial property with sustainable cash flows.

The assistance provided by the Company covered all legal aspects of the transaction from the outset, including the preparation of legal due diligence, drafting and negotiating transaction documentation and assistance in the financing of the acquisition.

 

 

EDS Romania (M&A)
Mergers & Acquisitions

Assisted EDS Romania, a member of the Euro-Druckservice Group, a leading printing service provider in Central and Eastern Europe, with the acquisition of the heat-set printing business as a concern by Mega Press Holdings SA and Aramis Publishing SRL.

Our firm advised EDS Romania from the outset of this transaction and throughout the entire process, being actively involved in structuring the transaction, performing the due diligence exercise in relation to the transferred business, drafting full transaction documentation, advising during negotiations, advising on all matters including the provision of the necessary financing for the payment of the part of the purchase price.

Additionally, as the parties involved in the transaction acted as two of the top market players in the heat-set printing industry in Romania, our assistance also involved obtaining the merger clearance. The issue is important because of the combined strengths and opportunities that would be provided through the acquisition and the importance of obtaining merger clearance.

FROALA Editor (M&A)
Mergers & Acquisitions

Assisted the founders of Froala Labs, a company active in the IT & C industry, on an estimated USD multi-million sale of all the shares held by the founders in the target company. The company is editing Software for fast development with better developer and user experience. Our legal assistance services will cover various structured matters of the intended transaction from the purchase price adjustments criteria, payment mechanisms, as well as revisions and negotiations of the main transaction documentation consisting of the first draft share purchase agreement proposed by the buyer, with the assistance of an external legal adviser qualified on the law governing the deal.

We also assisted our clients on the necessary Intellectual Property aspects related to the transaction, as well as on potential employment issues. Our team will prepare the required corporate documentation as well as we will generally provide our clients with legal assistance in connection with this transaction.

Frola is a tech start-up, whose 6000 clients in 110 countries worldwide include giants such as Apple, Samsung, Toyota, Amazon and Reuters. They are best known in the tech world thanks to their web editor WYSIWYG (What You See Is What You Get).

World Class Romania - Expo Business Park (RE)
Real Estate

Assisted World Class Romania with the lease of a space of approximately 1,500 sq.m. located within Expo Business Park, and 70,586m² mixed use development by Portland Trust located in an upcoming (booming) area in North Bucharest.

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that must accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

World Class Romania - Veranda Mall (RE)
Real Estate

Assisted World in the rental of a space of approximately 1,500 sq.m. within Veranda Mall Bucharest, one of the most modern shopping centers to open in recent years in Romania.

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that must accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

GapMinder Venture Partners (M&A)
Mergers & Acquisitions

Assisted GapMinder, and the VC Fund financed through the Competitiveness Operational Program 2014-2020 and co-financed by the European Fund for Regional Development in relation to the incorporation and structuring of the management company. The Competitiveness Operational Program 2014-2020 is an EU program to enhance the competitiveness of the Romanian economy by addressing the market challenges that stem from low support for research, development and innovation and under-developed information and communication technologies and infrastructure. Our assistance mainly consisted in preparing all corporate documents and coordinating the incorporation of the investment advisor of the fund as well as assisting and drafting the required corporate approvals for the incorporation of the fund manager.

Assisting GapMinder, and the VC Fund financed through the Competitiveness Operational Program 2014-2020 and co-financed by the European Fund for Regional Development in relation to the financing of start-ups meeting the Venture Capital and European Program conditions. Our assistance includes drafting the template financing documentation (shareholders' loan, corporate documentation) as well as special assistance with the due diligence process of certain start-up entities, negotiation of the transaction and implementation of each transaction.

Mega Company Import Export SRL (M&A)
Mergers & Acquisitions

We are currently assisting Mega Company Import Export SRL, a company that owns one of the largest outlet centers in Romania, with the restructuring of its business. Our assistance consists in the evaluation of the best restructuring options (ie through the spin-off or through several transfers of business), as well as the implementation of the selected restructuring option in line with the client's instructions, preparing all necessary documents in this respect , and advising on all legal aspects of the planned restructuring.

Natura Quattuor Energia Holdings SA (CC)
Corporate & Commercial

Assisting Natura Quattuor Energia Holdings SA, a company listed on the Bucharest Stock Exchange, on a group restructuring in view of the development of its investments and in relation to bond issues for financing its business, addressed to qualified investors only. Our legal assistance consists of the evaluation of the available options (spin-off or sale and purchase) and all other related implications, such as the relevant costs, the timeframe for implementation, and the potential restrictions and waivers to be obtained. Our team also provided multi-level assistance with the implementation of intragroup share deals as well as subsidiary company mergers by preparing the required corporate and transaction documentation (eg corporate approvals, share agreements, trade registers formalities,and generally overall legal assistance. The team also assisted with the drafting of corporate documentation related to bond issues, as well as the applicable bond issue memorandum.

World Class Romania - AFI Business Park (RE)
Real Estate

Assisting World Class Romania with the lease of a space of approximately 1,400 sq. meters, within AFI Business Park I - the first of five newest ultra-modern business towers in Bucharest.

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that should accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

World Class Romania SA - Cluj (RE)
Real Estate

Assisted World Class Romania with the lease of standalone premises of over 2,100 sq. to be built in a large mixed use real estate development in the city of Cluj-Romania (second largest city in Romania) and known as Record (residential buildings, A-class offices, retail and co- working / restoration spaces)

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that must accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

World Class Romania SA - Bucuresti Mall (RE)
Real Estate

Assisted World Class Romania with the lease of a space of approximately 1,300 sq. meters, within Bucharest, Mall Bucharest - the first shopping mall in Romania, opened in September 1999.

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that must accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

World Class/MV SRL (CC) (M&A)
Corporate & Commercial, Mergers & Acquisitions

A team of lawyers from Stratulat Albulescu Attorneys At Law assisted the leading fitness services provider in Romania, World Class Romania SA, in acquiring one of its competitors, Club Sport Fitness Center MV SRL The acquisition was completed on March 24th, 2016.

World Class Romania SA, currently owned by the Polish private equity fund Resource Partners, has been operating on the Romanian market since 2000 with a network of 19 fitness centers in Bucharest, Timisoara and Cluj-Napoca, registering a revenue of EUR 9.6 million in 2014 .

Club Sport Fitness Center MV SRL, a major sports and fitness network with several branches in Romania, operates a franchise of 9 fitness centers in Bucharest, as well as in other major cities in Romania under the brand names: Club Moving and Moving Express.

In the acquisition process, Stratulat Albulescu Attorneys at Law was involved in all the aspects of the transaction, including  the negotiation of the term sheet, preparation of the due diligence report and drafting of the transaction documents as well as assistance in the negotiation process and completion of the transaction. The team of lawyers from Stratulat Albulescu Attorneys At Law was also involved in the financing component of the transaction, comprising in the review and negotiation of the financing documentation put in place by two major credit institutions established in Romania.

The Stratulat Albulescu Attorneys at Law team was led by Partner Silviu Stratulat and coordinators of the Corporate and M&A department, alongside other members including Andrei Albulescu – Partner, Cristina Man – Senior Associate, Andrei Balus – Associate.

Ijdelea Law Firm was a legal advisor to the Seller, Thomas Richard Pierre.

 

European Retail Park - Targu Mures (RE)
Real Estate

ERP Targu Mures is a long standing client of the company dating back to early 2010. The company advises this client on all the legal issues related to the ERP owned Promenada Shopping Center in Targu Mures - Romania. The property is managed by BNP Paribas Property Management Division with Costin Nistor in charge of day to day operations and Ewa Parys of AEW Europe - Central and Eastern Europe heading the business.

As part of the legal assistance provided to the Client, Stratulat Albulescu was also instructed to draft and implement a new framework lease agreement to be used by the Client with all its future lessees. The concept and the effective draft of such a framework agreement involved a highly detailed analysis of all possible impacting legislation as well as implementation of extremely elaborate systems designed to accommodate the most sophisticated lessees.

By way of example, some of the most important lease agreements executed within the set time frame include the following:

  • the lease of an additional 260 sq.m. by H & M Romania, currently leasing a total surface of over 1,800 sq.m. within the respective shopping center
  • the rent of an area of ​​approximately 50 sq.m. that Nomasvello
  • the lease of an area of ​​approx. 485 sq.m to TXM Textile market, and clothing discount retailer from Poland
  • the lease of an area of ​​approx. 130 sq.m to English Home, and top brand in the home products sector
  • the lease of an area with an approximate surface of 2,500 sq.m. to the Polish clothing retailer
World Class Romania - Atlantis (RE)
Real Estate

Assisting World Class Romania with the lease of the Atlantis Fitness Center - an existing prestigious SPA and health center with a total area of ​​over 9,000 sq. meters, located in the residential district of Pipera Bucharest. Our assistance includes drafting and negotiating the lease agreement with the other party and advising on matters such as transfer of existing members, database.

Assisting one of the leading fitness service providers in Romania, makes it necessary to draft and negotiate sophisticated agreements that should accommodate the high level of standards expected by the Client. Real estate related matters such as insurance matters, contracting with service providers and day to day contact with the landlord are all part of the continuous assistance provided to the Client.

TEADS Brainient (CC) (M&A)
Corporate & Commercial, Mergers & Acquisitions

Law firms Mishcon de Reya LLP and Stratulat Albulescu - Attorneys At Law advised Teads on the acquisition of Brainient, an UK-based ad-tech company.

Teads, founded in 2011, created outstream video advertising and the leading native video advertising marketplace. The company has partnered with over 500 of the world's leading publishers, including Forbes, CNN, Time and National Geographic, as well as advertisers across many sectors.

Brainient, is one of the most successful Romanian start-up stories. Initially founded in Romania by Emanuel Gal and Andrei Baragan, Brainient really began to take off once its core business was moved to the UK in 2009. The data-driven creative technology developed by Brainient provides media owners, agencies and brands with the necessary tools for building interactive ads across video, mobile, display and Connected TV. Currently, Brainient has offices in London, Bucharest, Paris and Moscow and runs thousands of campaigns annually for hundreds of customers in over 20 countries.

The acquisition was completed on 15 September 2016. A team of lawyers from Mishcon de Reya LLP coordinated the transaction and led the negotiations. Stratulat Albulescu - Attorneys At Law conducted the legal due diligence regarding the Romanian subsidiary of Brainient. This highlighted key legal aspect of the potential transaction that could have had an impact on whether to make an acquisition. Stratulat Albulescu - Attorneys at Law also advised on the implications of the transaction in relation to Romanian law.

 

 

RENAULT/DACIA (RE)
Real Estate

Stratulat Albulescu Attorneys at Law acted for Automobile Dacia SA part of the French Automotive Group Renault, in connection with the lease of a property development in Bucharest, including a 39,000 square meter Class A build-to-suit building. Within the next 3 years, as confirmed by Dacia General Manager, the company will consolidate into its new office its various offices that are currently located in a number of different locations throughout Bucharest.

Our firm has provided legal advice on all Romanian law matters including drafting the transaction documents and negotiating the lease agreement.

The firm worked closely with the Paris office of Lefèvre Pelletier & Associés.

Automobile Dacia, part of the Renault group, is the only car manufacturer in Romania that has the capacity to design, develop and manufacture motor cars in Romania. This is achieved with the help of over 16,000 employees currently working in manufacturing facilities and offices located in Pitesti, Bucharest, Titu and other cities in Romania.

 

Futureal (RE)
Real Estate

Stratulat Albulescu Attorneys at Law assisted Futureal, a Hungarian real estate investment company, with the acquisition of over 15,000 square meters of land near Poligrafiei Boulevard to build a housing estate. The transaction was worth 3.7 million Euros and was completed on June 14.

The real estate developer plans to build approximately 400 apartments in multiple buildings consisting of 11 floors. The first phase is scheduled to be completed in 2019.

Futureal is one of the leading developers and investors in Central Eastern Europe. Futureal had previously successfully developed another residential project in northern Bucharest.

Stratulat Albulescu Attorneys at Law assisted on all matters of the transaction from the negotiation of terms to the conclusion, which included negotiating the term sheet, preparing the due diligence report, and drafting the transaction documents.

 

World Class Romania -AFI Cotroceni (M&A)
Mergers & Acquisitions

Stratulat Albulescu Attorneys at Law assisted World Class Romania, the leader in the fitness industry in Romania, with the acquisition of a new fitness location in the western part of Bucharest, within AFI Palace Cotroceni.

The fitness club, formerly called "Pure Jatomi," is now owned by World Class Romania under the name "Pure Health & Fitness Club" and has over 1,818 sq. m., including aerobics, fitness and cycling studios, as well as functional training areas. Members gained access to the expanded network as of June 14, 2017.

Our firm has been assisted with drafting the documents for the acquisition of the fitness club and advised on the negotiation of all legal aspects of the transaction.

 

Vinarte (CC) (M&A)
Corporate & Commercial, Mergers & Acquisitions

We assisted Vinarte SA, a top Romanian wine producer, on the transfer of employees as a result of the transfer of the company, drafting relevant notifications and providing ongoing consultancy.

We have assisted Vinarte SA, a top Romanian wine producer on the sale of business and assets related to its three wine domains located in Zoresti, Samburesti and Starmina, towards Neo Bacchus. The transaction took place during insolvency proceedings, following a bidding process, and included, among others: vineyards, buildings and equipment for wine production, wine stocks, trademarks and employees. Our assistance includes the legal advice on employment matters resulting from the transfer of the company and the formalities required to complete the transfer of employees to the new employer. Our work requires close cooperation with the Corporate / M & A and Insolvency and Restructuring teams.

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