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Taking place on 22-23 October 2026 in Bucharest, the international conference will bring together decision-makers, investors, business leaders, and experts from Romania, Ukraine, and across Europe to discuss reconstruction priorities, investment opportunities, and strategic partnerships. A special focus will be placed on the recovery of Southern Ukraine and on cooperation with neighboring Ukrainian regions, including Odesa, Chernivtsi, Vinnytsia, Mykolaiv, Kherson, Transcarpathia, Ivano-Frankivsk, and the Kyiv region. 

The event offers valuable insights into upcoming reconstruction projects, direct access to key stakeholders, and excellent networking opportunities for companies interested in contributing to and benefiting from Ukraine’s rebuilding process. As an official partner, AHK Romania members benefit from a 30% discount on participation packages. 

For more information and registration, visit the event website: Rebuilding Ukraine 2026 | Security, Opportunities, Investment

Bucharest, September 25, 2026 – The first edition of Via Transilvanica Business Fest, a project initiated by the Deloitte Foundation in partnership with the Tășuleasa Social Association, brought together over 200 business leaders, entrepreneurs, public officials, and representatives of civil society for a dialogue on collaboration, trust, and Romania’s development. The event thus launched a dialogue platform dedicated to creating bridges between the business community, the public sector, the non-governmental sector and communities and to bring together diverse perspectives and best practices around common objectives.

The event took place between September 18-20, 2026, in Piatra Fântânele, Bistrița-Năsăud County, where the campus of the Tășuleasa Social Association is located, the place where the Via Transilvanica project started, and was built around four bridges: between large companies and the local economy, between authorities and the private sector, between tradition and the future and between movement and meaning.

"I am fascinated by the metaphor of a path that unites and that gives us the opportunity to discover together a Romania that is constantly moving forward, evolving and growing from the ground up, at the roots, not necessarily always from Bucharest. We want to place this idea of a path that brings people together at the heart of Via Transilvanica Business Fest, both because it passes through everyone’s communities, including those that are often overlooked, and because it takes us on a journey that we undertake together, rather than alone or against one another. I hope this event becomes a tradition and, with our support, generates many other initiatives that strengthen bridges between different parts of society. My wish is for this core of leaders to become a community and for meetings along Via Transilvanica to become as meaningful for Romanian business as they already are for local communities and hikers," said Alex Reff, Country Managing Partner, Deloitte Romania and Moldova.

"Tășuleasa Social started 26 years ago with a simple idea: each of us can make a positive difference in the place where we live. Throughout these years, we have learned that you cannot define what is good on your own. You need to imagine and develop it together with people, and then do everything in your power to ensure it is embraced by the community. Today, there are 400 communities along the Via Transilvanica route, and not one of them would say that this trail has had a negative impact. Via Transilvanica Business Fest is a natural extension of this idea: a place where people from different worlds come together, exchange ideas, and jointly explore solutions for communities across our country. The fact that the Deloitte Foundation chose to develop this platform for dialogue alongside us shows that the business community also shares the desire to build bridges and create momentum through collaboration. To us, this is proof that Via Transilvanica truly is the road that unites. We do not change our roots simply because we want to create change, but we have learned that roots can take many forms," said Alin Ușeriu, President of Tășuleasa Social Association.

The Via Transilvanica Business Fest initiative brought together representatives at the highest level from the private, public and non-governmental sectors. Among the speakers were Ömer Tetik, CEO, Banca Transilvania; Iulian Stanciu, investor; Dan Ștefan, founder, Autonom; Mihai Jurca, Head of the Prime Minister's Chancellery; Oana Gheorghiu, Acting Deputy Prime Minister, Government of Romania; Corneliu Bodea, CEO, Adrem; Cerasela Baiculescu, CEO, IBM Romania and Moldova; Daniel Gross, CEO, PENNY | REWE Romania; Cristian Erbașu, General Manager, Erbașu Constructions; Daniela Iliescu, Executive Director, ROPEA; Raluca Nicolescu, CEO, Investment and Development Bank; Radu Hanga, President, Bucharest Stock Exchange; Mihail Vasilescu, Partner, Prime Kapital; Marius Ghenea, Managing Partner, Catalyst; Georgiana Singurel, Partner, Reff & Associates | Deloitte Legal; Bogdan Ivan, Member of Parliament for Bistrita-Nasaud; George Gîlea, President, UmanEast. Among the moderators were Alex Reff, Country Managing Partner, Deloitte Romania and Moldova, Andrei Burz-Pînzaru, Partner, Reff & Associates | Deloitte Legal, Alin Useriu, President, Tasuleasa Social and Andi Moisescu.

The President of Romania, Nicușor Dan, also attended the event and engaged in a discussion with participants on collaboration, Romania's development and the need to build more trust across society.

In the panel dedicated to the bridge between large companies and the local economy, the dialogue emphasized how large businesses, entrepreneurs and communities can work together to support economic and social development. The discussion highlighted the essential role of small and medium-sized enterprises in the economy, but also the need for closer collaboration between large companies and local entrepreneurship, which would create development opportunities including in communities less connected to large investment flows.

The relationship between the authorities and the private sector was addressed during several panels, and the conversations followed how dialogue and partnerships between the two sectors can contribute to the development of the economy and brought to the fore topics such as investments, infrastructure, acceleration of digitalization and debureaucratization, access to capital. One recurring theme was that trust between the public and private sectors is built through collaboration and concrete results. The discussions also focused on the role of capital and financing mechanisms in the development of companies and the economy, from access to different sources of capital to supporting entrepreneurs in the growth process. The dialogue put into perspective the importance of available capital and entrepreneurial expertise for the development of new success stories in the Romanian economy.

The bridge between tradition and the future brought the conversation around the evolution of the Via Transilvanica project in the long term. The discussions aimed to preserve the identity and values that underpin the project, in parallel with its development and professionalization and leveraging its potential to promote Romania and the communities along its route.

The component dedicated to the bridge between movement and meaning included several hikes on Via Transilvanica. Nearly 50 participants completed the more than 20-kilometre route from Lunca Ilvei to the Tășuleasa Social Association campus, while more than 80 others chose the five-kilometre trail from the campus to Tășuleasa Peak and back.

The story of Via Transilvanica Business Fest was born from the collaboration of several years between Reff & Asociații | Deloitte Legal and Tășuleasa Social Association. The law firm's experts provided pro bono legal assistance on the governance of the association and in the process of official certification of Via Transilvanica as a pedestrian route of national interest for recreational purposes. Through the involvement of the Deloitte Foundation, the initiative aims to create a meeting space between the business environment, authorities, civil society and local communities and to develop, from one edition to the next, new bridges of dialogue and collaboration.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. The firm’s professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 180-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its over 470,000 people worldwide.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,300 professionals.

Please see Deloitte.ro to learn more about the global network of member firms.

Via Transilvanica is Romania’s first long-distance trail, stretching across the country from Putna to Drobeta-Turnu Severin, and was created to be explored on foot, by bicycle, or on horseback. Tășuleasa Social Association, which has developed educational, cultural, and environmental projects over the past 25 years, inaugurated the 1,400-kilometre trail in 2022 following four and a half years of dedicated work. In 2025, the organization began extending the route into Romania’s other historical regions and launched a new section, Terra Borza Teutonica, spanning 170 kilometres and making Brașov the third gateway to Via Transilvanica. The expansion will continue over the next 20 years, with the project remaining committed to promoting slow tourism and supporting the local communities located along the route. Known as “The Road that Unites”, Via Transilvanica offers a unique way to discover Romania’s culture, traditions, and wilderness, crossing eight historical regions, ten counties, and twelve UNESCO World Heritage sites.

© 2026. For information, contact Deloitte Romania

CMS has advised Alcemi, a leading UK-based energy storage developer, on its entry into the Romanian market through the acquisitions of majority stakes in two early-stage battery energy storage system (BESS) projects: a 300 MW project in Medgidia, Constanța County, and a second 275 MW project in Șura Mare, Sibiu County.

CMS advised Alcemi throughout both transactions, including on legal due diligence, transaction structuring, drafting and negotiation of the transaction documentation, as well as the signing and completion process.

Varinia Radu, Head of Energy and Climate Change at CMS Romania and Deputy Head of the CEE Energy Projects and Construction Practice, comments: “We are delighted to have advised Alcemi on its entry into the Romanian market for battery energy storage investments. BESS projects are becoming increasingly vital to Romania's energy mix, grid flexibility, and security of supply, and we are proud to support a client at the forefront of this transition. We look forward to continuing our collaboration with Alcemi.”

The CMS team advising Alcemi was led by Varinia Radu (Energy) and included Andrei Tercu (Tax), Elena Vlăsceanu and Raluca Diaconeasa (Energy), Cătălin Vasile (Corporate and M&A), and Alexandru Dumitrescu (Real Estate).

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About CMS 

 

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 91 offices in over 50 countries across the world and more than 7,400 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property, and Real Estate.

For more information, please visit cms.law

As of 11 September 2026, manufacturers are subject to strict obligations to report vulnerabilities and incidents under Regulation (EU) 2024/2847 of the European Parliament and of the Council of 23 October 2024 on horizontal cybersecurity requirements for products with digital elements and amending Regulations (EU) No 168/2013 and (EU) No 2019/1020 and Directive (EU) 2020/1828. This early application constitutes a notable exception, given that, as a general rule, the provisions of the Regulation become applicable from 11 December 2027.

Under the provisions of the Cyber Resilience Act, the reporting obligation laid down in Article 14 focuses on two major risk scenarios:

■ Actively exploited vulnerability

■ Severe incident having an impact on the security of the product with digital elements

Read more ≫

Bucharest, 21 September 2026 – Nhood, an international real estate solutions operator supporting clients through an integrated services platform, is the new partner of Regata Imobiliare, the developer of Satul German, the urban development project in the Republic of Moldova. Under their mandate, Nhood will contribute to the development of Satul German’s future commercial area through integrated Development, Leasing, Property Management and Asset Management services, with the aim of supporting its long-term performance and appeal.

The project is one of the most complex real estate developments in the Republic of Moldova. Created as a micro-city built from the ground up and developed around the concept of a “15-minute city”, it places quality of life, sustainability, renewable energy and European standards of design and comfort at the forefront. The future neighbourhood will include 48 residential buildings, semi-detached and detached houses, green spaces and complementary facilities, including a hospital, educational infrastructure, a multisport complex, the National Tennis Centre, and an Ibis hotel. At the same time, approximately 30,000 square metres of land are dedicated to the development of the commercial component. According to initial estimates, the entire project will be completed in 2028 and will accommodate approximately 10,000 residents.

“Satul German was designed from the very beginning as a neighbourhood where people would have close access to everything they need for a comfortable life. The commercial component is a natural part of this vision. Together with Nhood, we want to develop a centre that meets everyday needs while also bringing the community together,” said Ceslav Ciuhrii, founder of Satul German.

For Nhood’s team in Romania, Satul German represents an opportunity to contribute to the development of a large-scale urban project in the region. Nhood will develop the retail concept and commercial mix, define a leasing strategy tailored to the project and the profile of the future community, and contribute to attracting relevant international and local brands. Through its Property and Asset Management services, Nhood will contribute to operational cost efficiency and support investment decisions.

“Our involvement in the project began with the definition of the concept and continues with the development of the commercial component. This is where the experience of our multidisciplinary team is particularly relevant: understanding the expectations of the community that will grow around the project and translating them into a retail mix that is attractive to brands and sustainable for operators. This integrated approach allows us to make, from an early stage, the decisions that will contribute to the project’s long-term performance and sustainability,” said Bogdan Aldea, Head of Business Development, Nhood.

“In a neighbourhood built from the ground up, the commercial area needs to be designed around the way the community will evolve over time. This means taking into account how the spaces will be used, the needs of operators and changes in consumer behaviour, so that the offering can remain relevant as the neighbourhood develops. Drawing on our experience, our team approaches these decisions from a broader perspective, taking into account both the needs of the community and the commercial and operational requirements, so that the area can function efficiently and remain relevant as the community evolves,” said Mihaela Petruescu, Country Director for Property Services Romania & Poland, Nhood.

Through its involvement in Satul German, Nhood brings together commercial, operational and investment perspectives to contribute to the development of spaces tailored to the local context. This approach enables the company to work alongside developers and local partners across multiple stages of a project and to consider, from the outset, both market requirements and the way in which the development will operate over the long term.

About Nhood

Nhood is an international real estate solutions operator, actively involved in urban regeneration. The company supports property owners, public authorities, and investors in the sustainable transformation of assets and spaces, leveraging an integrated services platform. As an integrator of expertise, Nhood operates across the entire real estate project lifecycle, from strategy to operations: consulting, concept design, development, placemaking and community engagement, operational management, and asset value enhancement. Its 1,500 employees manage assets worth €17.3 billion across nearly 1,000 locations in Europe and Africa, serving over 300 clients. The company develops value-generating mixed-use projects rooted in local dynamics, where retail, residential, office spaces, leisure and hospitality areas, digital infrastructure, and new urban uses coexist. Guided by a positive-impact approach - People, Planet, Profit, and Governance - Nhood works every day to create “better places” that are useful, vibrant, and attractive. www.nhood.ro 

Expert: Tomasz Jeleń, Chief Commercial Officer, Rohlig SUUS Logistics

Volumes are growing, but in the face of geopolitical challenges and regulatory change, companies are shipping their goods earlier and adjusting their transport strategies to build greater supply chain resilience. These are the key conclusions from this year's shipping peaks. They are visible in sea and air freight alike, as well as on the warehousing market.

At sea, the peak began before Children's Day

For many years, the traditional peak in sea freight fell at the end of July and in August. That calendar no longer applies. Last year, a clear increase in volumes began in June, and this year the first signs of heavier traffic were already visible in late May. As a result, the peak is becoming flatter – companies start shipping earlier and no longer concentrate the entire volume in a single time window. This is not a coincidence, but the effect of deliberately building supply chain resilience.

This year also confirms that unpredictability, mainly geopolitical, has become the one thing that can be predicted with certainty. As recently as January or February, it looked as though 2026 would bring a return to regular sailings through the Red Sea, and that this would be a stable sea freight option from China to Europe in around 45 days instead of the 60 days needed to sail around Africa. The escalation of the conflict in the Middle East has not only made transport in the region more difficult and pushed freight costs up, partly through higher fuel prices, but has also delayed any return to the Suez Canal route. Although carriers are once again talking about that possibility, it is difficult to predict today whether and when it will become reality.

This is not the only factor spreading shipments over time. Schedule reliability has deteriorated as well – only around 60% of sailings currently run on schedule. One of the reasons is operational difficulties at Chinese ports caused by August typhoons. Although typhoons are a seasonal phenomenon, their scale this year was significantly greater. European ports are facing problems too – every so often we hear about strikes at German or Dutch ports. On the other hand, it is worth noting that interest in Poland's sea terminals is growing; they post record transshipment volumes year after year and, thanks to their greater flexibility, can serve as an alternative to other European hubs.

An additional source of pressure on the sea freight market is the situation in India. Congestion at some terminals, imbalances in container availability and disruptions to inland haulage are limiting the predictability of operations. On selected lanes this translates into more difficult access to freight space, longer transit times and higher rates. It shows that disruption in one region quickly affects the availability of the global fleet and shipping capacity on other routes as well.

The situation in rail freight is naturally linked to trends at sea. Here the peak comes later, usually at the turn of October and November. Year-on-year growth in volumes on connections from Asia was already visible in the first half of the year, and in the first quarter 29% more trains ran on China–Europe routes than a year earlier. We therefore expect further growth in the coming weeks, as rail remains one of the tools for diversification at a time of uncertainty at sea. Experience from sea freight shows, however, that the peak may begin earlier here too. Companies that want to use rail should therefore be making their decisions now.

Shifts in air cargo routes

The structure and volume of air freight have also changed this year. Restrictions – and at times the complete closure of airspace over the Persian Gulf – caused considerable turbulence in shipments, particularly in the spring. Doha and Dubai, key hubs for flows between Europe and South-East Asia and Australia, were then partly replaced by alternative routings, including via Turkey. Today the Gulf hubs are operating at practically full capacity again, but freight prices have risen, driven among other things by more expensive fuel and airline surcharges, and the situation in the region remains unstable. As a result, companies are moving part of their shipments to air freight earlier, which may make this year's peak flatter here as well.

This matters, because air freight is often used at the last minute precisely for its short transit time, especially in e-commerce. Now that model is changing too. A recent customs change adds to the picture. On 1 July, the European Union abolished the customs duty exemption for shipments valued at up to EUR 150 and replaced it with a temporary charge of EUR 3 per goods category. Imports of low-value shipments have fallen by an estimated more than 30%, while air shipments in this category dropped by nearly 33% year-on-year. This does not mean, however, that Chinese e-commerce is withdrawing from Europe. What is changing above all is the economics of the individual parcel. Under the new conditions, it makes more sense to move larger volumes by sea or rail, build up inventory inside the EU and fulfil orders locally.

At the same time, a new and fast-growing source of demand is emerging on the air freight market: infrastructure for artificial intelligence and data centres. Servers, graphics processors, network components and cooling systems are high in value and closely tied to the schedules for bringing new computing capacity online. Technology customers therefore opt for air freight more often, even at higher rates. This demand partly replaces weaker e-commerce volumes and adds to the competition for cargo space during peak periods.

Inventory is moving to Europe

Demand for warehouse space is not driven solely by the changes in Chinese e-commerce supply chains. It is also fuelled by the higher volumes of goods we see among customers from different countries and many industries, by earlier shipments and by inventory building as a resilience strategy. In Poland, demand for warehouses is at its highest level since 2022; the e-commerce sector alone leased more than 800,000 m² in the first half of the year, and Chinese players are among the most active tenants. A similar trend is visible in other CEE markets, particularly in the Czech Republic and Romania.

When we discuss nearshoring, we usually mean relocating production. Here, it is storage that is being relocated. For Central and Eastern Europe this is another opportunity, because larger inventories inside the EU also mean greater demand for customs services, road distribution, and seaports and rail terminals.

Interest is also growing in services performed directly in the warehouse: co-packing, assembling gift sets and preparing display stands. Customers from the cosmetics and electronics industries, among others, are signalling this to us.

Growth will extend to road transport

Higher volumes across all transport modes and growing warehouse inventories will translate in the coming weeks into road transport as well – in domestic distribution and international shipments alike. The effect will be visible immediately before and during the consumer peaks. The same applies to the last mile. Interest in services such as delivery inside premises or installation grows year after year, and this season should be no exception, especially as there will simply be more goods to handle.

What is driving higher volumes in transport to Europe?

There are several reasons. One of them is the economic climate. Central and Eastern Europe stands out against the rest of the continent with relatively stable economic growth, and Poland remains one of its leaders – over the past two years its economy has grown at a rate of close to 3% a year, driven by both consumption and investment. This translates directly into the amount of goods that need to be brought in ahead of the autumn sales season. Retail has to ensure product availability in the period of highest demand, and that means transport decisions taken further and further in advance. We see this in our own operations as well.

That is not the whole picture. Even though Europe has become a more difficult market for Chinese goods in the e-commerce channel, goods sold through other channels are gaining in importance. US imports from China fell by nearly 30% in 2025, yet China's total exports grew over the same period. The lost volume was redirected to Europe, South-East Asia, Latin America and Africa, among other destinations. EU goods imports from China rose by 6.4%.

Fuel prices remain a question mark

The growth and the volume structure we observe indicate that this year's consumer peaks will also be on an upward trend. Today, however, one of the most important challenges for the entire economy remains the unstable situation in the Middle East, which translates among other things into fluctuations in fuel prices and persistent uncertainty about where they will go next. This is a significant cost factor for many industries, logistics included. If fuel prices continue to rise, this may in time translate into higher transport costs and higher prices of goods, creating inflationary pressure and affecting the pace of consumption.

In logistics, flexibility is becoming ever more important

This year's season is a good illustration that there is no one-size-fits-all solution in logistics. Goods set off earlier than in previous years and increasingly stop at a European warehouse before reaching the end customer. Decisions on warehouse space and customs services therefore have to be taken in advance, because the availability of both is shrinking faster than in previous seasons. In such conditions, the advantage goes to operators who can combine different transport modes, provide customs services and warehouse space in the region, and advise the customer as early as the planning stage.

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About Rohlig SUUS Logistics

Rohlig SUUS Logistics is the largest Polish logistics operator and one of the leading ones in Central and Eastern Europe and Central Asia. It specializes in the integrated management of logistics and global supply chains. It implements logistics processes based on road, sea, air, rail, and intermodal transport, as well as contract logistics, customs services, and project cargo. It also offers supply chain design tailored to specific customer needs as Supply Chain Solutions. In 2025, the company generated revenues of 600 million EUR. Currently, it employs more than 2,600 people in over 40 branches across 9 countries and manages more than 385,000 sqm of warehouse space. It is one of the few Polish companies with SBTi-approved decarbonization targets.

Join Forvis Mazars for a practical webinar on 23 September at 15:00 CET, focused on entering the German market from a CEE perspective.
Our experts from Germany, Poland and Croatia will explore legal structures, the main tax considerations and real-world cross-border scenarios - including management roles, permanent establishments and construction withholding tax.  

 

What will be covered during the webinar:

• Overview of legal forms & incorporation (corporations vs. partnerships)
• The process of incorporating  a GmbH (role, liability exposure and cross-border relevance)
• Key tax facts for inbound investments
• Case studies in Croatia, Poland and Germany and cross-country

Register now and gain actionable insights to structure your German operations confidently and avoid common compliance risks.

Register here

 Speakers:

Susann Philipp, Partner, Tax & Accounting, Forvis Mazars in Germany
Mara Grünewald, LL.M, Senior Associate, Law, Forvis Mazars in Germany
Łukasz Kempa, Director, Tax, Forvis Mazars in Poland
Ana Perožić, Manager, Tax, Forvis Mazars in Croatia

CMS has advised Agricover Group, on the structuring and licensing of Agricover Payments as a payment institution authorised by the National Bank of Romania (NBR). Agricover Payments has become the first Agri-FinTech authorised payment institution in Romania, dedicated to farmers.

Agricover Payments is part of the Agricover Group, one of Romania’s leading agribusiness groups serving over 11,000 farmers nationwide, dedicated to developing integrated digital financial solutions for farmers, in a pioneering approach for Romania’s agricultural and digital financial ecosystem. Agricover Payments is authorised to being able to offer payment accounts, issue cards, execute money transfers and enable cash withdrawals, all through an integrated digital experience.

CMS multidisciplinary team assisted Agricover throughout the entire authorisation process, combining our local and international expertise across corporate governance, regulatory structuring, financial services regulation, risk management, anti-money laundering, outsourcing, digital operational resilience. In terms of scope and technical complexity, this project ranks among the most significant regulatory advisory mandates in Romania’s payments and agri-fintech sectors.

Cristina Reichmann, Partner, CMS Romania, comments: “The authorisation of Agricover Payments as a payment institution by the NBR is a landmark moment for the Romanian payments and agribusiness sectors.”

Adina Nănescu, Counsel, CMS Romania, adds: “The Agricover Payments project was a remarkable professional experience, requiring a multidisciplinary approach and careful coordination of all regulatory aspects.”

Mircea Ciută, Senior Associate, CMS Romania, adds: “It is a privilege to have contributed to a project with such a high degree of regulatory complexity and a significant impact on Romania’s financial market.”

The CMS team was led by Cristina Reichmann. The core team included Adina Nănescu and Mircea Ciută (Finance).

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About CMS 
 

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With more than 90 offices across 50+ countries and more than 7,200 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Banking & Finance, Payment Institutions, Funds, Corporate/M&A, Private Equity, Energy & Climate Change, Life Sciences & Healthcare, TMC, Tax, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property, Consumer Products, Hospitality, Travel & Leisure, Infrastructure & Projects, Insurance and Real Estate.

For more information, please visit cms.law 

For entrepreneurs and social innovators developing solutions in areas such as climate, health, cities, oceans, or food systems, the SI-Mission Facility Training & Scaling Programme has extended the application deadline for its European learning and networking programme. The new application deadline is September 30!

Built around the five EU Missions, the programme helps participants understand how their projects align with these priorities and how they can prepare their organisations for the next stage of development.

Activities include webinars, practical sessions, and in-person meetings organised by Impact Hub Network and its European partners (including us). Participants will also gain access to tools for scaling social innovation, work on impact models and development plans, and learn directly from experts and practitioners working in the fields covered by the EU Missions.

Another key benefit is access to a European community of entrepreneurs and social innovators working on similar challenges. The programme creates opportunities for knowledge sharing, collaboration, and new partnerships, while also providing valuable preparation for the European scaling competition to be launched in 2027. In the next stage, selected participants will have the opportunity to present their initiatives to international investors and partners at a final event in Italy.

You have until September 30 to apply to the programme!

Make the most of this final opportunity to join the programme!

ANA Spa Crowne Plaza Bucharest, part of Ana Spa Collection by Ana Hotels, is expanding its wellness and regeneration offering with a new experience based on hyperbaric oxygen therapy.

In an increasingly dynamic lifestyle, where time dedicated to recovery and wellbeing has become just as important as time devoted to physical activity, interest in modern wellness therapies and technologies continues to grow.

Responding to this trend, ANA Spa Crowne Plaza Bucharest is adding hyperbaric oxygen therapy to its portfolio of services — an experience that complements its range of therapies dedicated to relaxation, recovery and revitalisation.

What Is Hyperbaric Oxygen Therapy?

Hyperbaric therapy involves exposing the body to pressure higher than normal atmospheric pressure in a controlled environment while breathing oxygen. The increased pressure enables the body to utilise a greater amount of oxygen, which is the principle underlying the use of this therapy in certain medical and recovery settings.

Hyperbaric therapy is recognised for certain medical indications and, within the wellness and recovery space, has become a technology of growing interest among people focused on recovery and maintaining an overall sense of wellbeing.

Physiological effects associated with the therapy include increased oxygen availability to tissues and support for the body's natural oxygen-dependent processes. Benefits and recommendations vary, however, depending on the protocol and each individual's specific circumstances.

Wellness with a Modern Approach

At ANA Spa, the new hyperbaric chamber joins a comprehensive portfolio of facilities and therapies, ranging from an indoor swimming pool, sauna and hammam to massages, physiotherapy, TECAR therapy and flotation therapy.

Through this diversification, ANA Spa aims to offer a wellness experience tailored to different needs — from relaxation and switching off to recovery and revitalisation. Today, wellness means more than simply relaxing. It means paying attention to how you feel, listening to your body and discovering solutions that can complement a balanced lifestyle.

The new experience is available at ANA Spa Crowne Plaza Bucharest and is designed for those who wish to discover hyperbaric therapy and incorporate new forms of recovery and wellbeing into their routine.

Discover more at www.anawellness.ro/oxygen-experience/

Bucharest, September xx, 2026 – Reff & Associates | Deloitte Legal announces 14 promotions effective as of September 1, 2026. These include the promotion of Ana Galgotiu-Sararu to Partner, Stefan Caramida and Andrea Grigoras to Counsel, while Stefan Mihartescu and Ana Maria Vlasceanu have become Senior Managing Associates. Elena Iacuba, Lucian Savin, and Andrei Ududoiu have been promoted to Managing Associate, while Andra Campeanu, Diana Dulama, Valeriu Iliescu, Alis Morar, Teodora Nitu, and Malin-Cristian Unguru have advanced to Senior Associate positions.

”I am particularly delighted that we can mark our 20th anniversary with a significant strengthening of our leadership team, which now brings together nine partners and an equal number of counsels, out of more than 85 lawyers within the firm. I would like to believe that, over these two decades, we have built a distinctive organization, including from a career development perspective, with multiple levels of responsibility reflecting the evolution of skills from highly technical expertise to project management, team leadership, client portfolio expansion, and reputation building. For senior positions, the recognition awarded reflects not only excellence in client service but also a tangible contribution to the development of the practice, with expectations that are often more demanding than those generally required across the profession, making these achievements all the more meaningful. I would like to thank them all for their commitment and contribution to our team’s success and to strengthening our reputation in the Romanian legal market,” said Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova.

Ana Galgotiu-Sararu – Partner, Dispute Resolution practice, with more than 14 years of experience in this area, is recognized for advising clients on high-profile and strategically significant litigation and arbitration matters, particularly in real estate and construction, commercial, corporate, regulatory and administrative sectors. Since joining Reff & Associates in 2019, Ana has played a central role in the expansion and strengthening of the firm’s commercial and administrative disputes practice as one of the leading dispute resolution practices in Romania.

Stefan Caramida – Counsel, Corporate, Commercial and M&A practice, has more than two decades of experience advising clients on complex corporate, commercial, and transactional matters. His practice focuses on M&A transactions, corporate governance, and the negotiation of high-value commercial agreements. Widely appreciated by clients for his strategic insight and practical advice, Stefan is recognized by Legal 500 as a Leading Associate.

Andrea Grigoras – Counsel, Competition Law practice, has 18 years of experience in this area and leads complex antitrust mandates, advising clients on some of the most sensitive and sophisticated competition matters in the market. She is particularly valued for her ability to provide pragmatic, business-oriented advice on clients’ complex legal issues. Andrea has been ranked by Legal 500 for several years, most recently as a Leading Associate.

Stefan Mihartescu – Senior Managing Associate, Tax Litigation practice, has more than 12 years of experience advising national and international companies on matters involving significant tax exposure and regulatory implications. His extensive litigation experience allows him to provide practical and strategic guidance tailored to clients’ business objectives.

Ana-Maria Vlasceanu – Senior Managing Associate, Employment Law practice, has 15 years of experience advising employers on complex workforce, employment, and social security matters. She is particularly recognized for helping organizations navigate transformative workplace developments, including restructurings, cross-border workforce mobility, pay transparency, collective bargaining, and transfer of undertakings.

Elena Iacuba – Managing Associate, Dispute Resolution practice, with a focus on administrative, real estate, construction, and public procurement disputes, is recognized for advising clients on complex and strategically important litigation.

Lucian Savin – Managing Associate, Dispute Resolution practice, has more than eight years of experience advising clients on strategically significant disputes, particularly in the real estate, commercial, public procurement, and employment sectors.

Andrei Ududoiu – Managing Associate, Banking & Finance practice, with more than seven years of experience, he advises banks, investment firms, asset managers and other regulated entities on complex regulatory, licensing, and compliance matters.

Reff & Associates | Deloitte Legal is celebrating 20 years of activity in the Romanian market, during which it has steadily grown and consolidated its position in the business law, and its activity has expanded to 14 practice areas. With a team of 85 lawyers specialized in the main areas of practices of business law, the firm is recognized as a leading law firm in Romania for the quality of services and ability to deliver solutions on complex legal matters. The areas of practice include banking and finance, business integrity, capital markets, competition, consumer business and data protection, corporate, commercial and mergers and acquisitions, dispute resolution, employment, energy and environment, insolvency, intellectual property, legal management consulting, public sector and real estate, as well as tax controversy. The firm represents in Romania Deloitte Legal, a global network with more than 3,100 lawyers in 75+ countries.

For more information about Reff & Associates, please visit www.reff-associates.ro.

Are you a woman entrepreneur with a business that has been operating for at least one year? This could be your opportunity to take the next step in growing your business.

€90,000 in grants for 6 women entrepreneurs:

• 1 grant of €30,000
• 2 grants of €15,000
• 3 grants of €10,000

But She’s Next is about more than funding. 15 finalists will gain access to 1-on-1 mentoring, group coaching, training sessions, masterminds and resources designed to support both their business growth and personal brand.

During the application period, entrepreneurs can also join 7 free webinars covering topics such as funding and business finance, marketing and communication, AI in business, leadership, strategic business development and customer acquisition.

📅 Applications are open from September 15 to November 15, 2026.

The program is open to businesses that have been operating for more than one year and are at least 51% women-owned.

👉 Apply and find out more: https://impacthub.ro/programe-pentru-antreprenori/shes-next-2026/ 

She’s Next is an initiative by Visa and ING Bank Romania, in collaboration with Impact Hub Bucharest.

Bucharest, 11 September 2026 – Wolf Theiss advised Symfonia sp. z o.o., a portfolio company of MidEuropa and Accel-KKR, on its most recent strategic transaction in Romania, namely the acquisition of Setrio Soft SRL, a Romanian company offering software solutions for healthcare and logistics professionals. The transaction closed on 31 August 2026.

Wolf Theiss advised Symfonia on all Romanian legal aspects of the transaction, including due diligence and the drafting and negotiation of the share purchase agreement and related transactional documentation.

The Wolf Theiss Corporate/M&A team was led by Partner Ileana Glodeanu and included Flavius Florea (Counsel, Data Protection, IP & TMT), Associates Vlad Catană, Delia Ardei-Dan, Ramona Mosora and Laurenţiu Bolborici (all Corporate/M&A), Senior Associate Ioana Iacob (Employment), Partner Anca Jurcovan and Senior Associate Maria Popescu (both Antitrust & FDI).

Symfonia is a leading provider of ERP, payroll and human capital management software solutions for business in Poland. Serving more than 50,000 customers, the company offers business-critical software solutions and is at the forefront of the transition to cloud and AI-powered solutions. Since the completion of the carve-out from global ERP software provider Sage in March 2021, Symfonia together with Accel-KKR and MidEuropa embarked on a journey to consolidate the fragmented enterprise software market in Central Europe.

Accel-KKR is a technology-focused investment firm with USD 19 billion in cumulative capital commitments. The firm invests in software and technology-enabled businesses, providing a broad range of capital solutions across buyouts, growth investments and credit strategies.

MidEuropa is a leading European private equity investor with deep roots in Central Europe and a track record spanning over 25 years. Headquartered in London, with offices in Warsaw and Bucharest, MidEuropa identifies strong investment opportunities across the consumer, healthcare, services and technology sectors and supports their growth and international expansion. To date, MidEuropa has raised and managed funds of over €6.5 billion and completed 49 investments and more than 290 add-on acquisitions across 20 countries.

The transaction represents a further step in Symfonia's expansion strategy in Romania and strengthens its presence in key vertical software markets.

"We are delighted to have completed yet another transaction in Romania and to continue our growth journey in a market that offers significant opportunities for innovation and digital transformation. Having trusted advisors who understand our business and transaction objectives is essential, and Wolf Theiss has once again proven to be an outstanding partner throughout this process." - Wioletta Kałoska, General Counsel, Symfonia.

"The acquisition of Setrio Soft represents another important milestone in Symfonia's growth journey in Romania. We continue to invest in high-quality software businesses that complement our portfolio and strengthen our ability to support customers with innovative, industry-focused solutions. Romania remains a strategic market for us, and we are excited to further expand our presence through such partnerships." – Bartlomiej W. Kulas, Head of M&A, Symfonia.

"We are pleased to have once again supported Symfonia on the completion of another strategic acquisition in Romania. This transaction further underscores the continued attractiveness and maturity of the Romanian technology sector, while also reflecting the growing sophistication of M&A structures deployed by strategic investors and private equity-backed groups across the region. We are proud to be at the forefront of these transformative transaction and to contribute to the development of one of the most dynamic technology markets in Central Europe." 
– Ileana Glodeanu, Partner, Wolf Theiss

About Wolf Theiss

Founded in 1957, Wolf Theiss is one of the leading law firms in Central, Eastern and South-Eastern Europe (CEE/SEE). We have built our reputation on unrivalled local knowledge which is supported by strong international capabilities. With 400+ lawyers in 13 countries and a central European hub in Brussels, over 80% of the firm's work involves cross-border representation of international clients.

Austria, Albania, Bosnia and Herzegovina, Brussels, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

Global law firm Dentons has advised Kommunalkredit Austria AG on the €50,630,000 refinancing of the 60 MW Ruginoasa onshore wind farm, owned and operated by DRI, the EU renewables arm of DTEK, in Iași County, Romania.

The refinancing will help fund the project’s transition from construction-stage to operational-stage through an extended facility on improved economic terms, reflecting the strong risk profile of the operational asset, that has been generating electricity since December 2023.

The wind farm comprises ten Vestas wind turbines and is expected to generate renewable electricity for more than 30 years, contributing to Romania's energy transition and long-term energy security.
Acting as lender legal counsel, Dentons’ Banking and Finance team in Bucharest managed and coordinated all English and Romanian law aspects of the transaction from structuring to completion.

Bucharest-based Banking and Finance partner Simona Marin led the legal team, assisted by counsel Stefi Ionescu, associate Maria Brinza and paralegal Iulia Alexandrescu (all Banking and Finance), partner Claudiu Munteanu-Jipescu, counsel Angelica Pintilie and associates Alin Dimache and Carolina Mitea (all Energy), as well as partner Bogdan Papandopol, counsel Luiza Onofrei and associate Diana Anghel (all Real Estate). 

Simona Marin commented: “We are delighted to have supported Kommunalkredit on this important refinancing. The transaction reflects the growing maturity of Romania’s renewable energy market and the continued appetite of international lenders for high-quality operational assets. Ruginoasa is a significant wind project, and we are pleased to have contributed to securing its long-term financing alongside an excellent team of professionals.” 
 

Mega-dealmakers shrug off geopolitical shocks

·        Despite a bout of global shocks, dealmakers remain confident about Europe’s M&A prospects for the year ahead.

·        Deal volume in H1 2026 reached almost 9,500, down 5% from the same period in 2025.

·        Despite this dip in volume, aggregate deal value in H1 soared to EUR 723bn, a 54% year-on-year increase, reflecting a surge of megadeals.

·        In our survey of 250 Corporate and Private Equity dealmakers, almost two-thirds of respondents (64%) expect M&A levels in Europe to rise in the next 12 months – up from last year, when half forecast an increase.

·        Over a third of the respondents (35%) say inflationary and interest rate pressures will be the biggest obstacle to dealmaking in Europe in the coming year. Vendor/Acquirer valuations gaps (33%) and financing difficulties (27%) are also identified as persistent concerns.

·        On the buy-side, respondents identify digitalisation (33%) and turnaround opportunities (30%) as crucial drivers of M&A, while raising capital for expansion in faster growing areas (49%) and a pick-up in valuations (42%) are expected to be key motivators on the sell-side.

·        Most respondents (88%) have noticed a jump in M&A activity in Europe led by US bidders over the last 12 months, and 95% expect that interest to increase in the year to come.

·        Respondents expect the Benelux region (38%) and the UK & Ireland (also 38%) to see the highest M&A growth in the next 12 months. These are followed by Iberia (31%) and Italy (22%), comfortably ahead of France and Germany, reflecting broader economic confidence in Southern Europe.

·        Half of respondents believe that private equity will be the most available source of finance in the next 12 months, followed by cash reserves (42%) and bank lending (40%).

According to CMS’s 2027 European M&A Outlook, almost two-thirds of dealmakers expect the level of European M&A activity to increase over the next 12 months, in spite of geopolitical turmoil. The Outlook was published today in association with financial data firm Mergermarket.

Despite the outbreak of war in Iran and the attendant Hormuz crisis – precipitating higher energy prices and renewed inflation – M&A in Europe enjoyed a busy H1. Transaction volume was down just 5% compared to the same period in 2025, but the real story can be found at the top of the deal market – aggregate value climbed by a towering 54% year-on-year, reaching EUR 723bn. Evidently, megadeals were back in force.

Louise Wallace, Head of the CMS Corporate/M&A Group, said: “Optimism prevails amongst dealmakers, despite sometimes challenging and unpredictable circumstances. The reasons behind M&A, including digitalisation, raising capital to fund growth, making the most of distressed opportunities and the narrowing of valuation gaps between buyers and sellers are sparking enthusiasm – we hope potential brakes of elevated interest rates and challenging financing in some sectors do not dampen that optimism in 2027.”

CEE Overview

In H1 2026, CEE M&A deal value increased by 4% year-on-year to EUR 20.6bn, while deal volume reached 526, down 15% from the same period in 2025. While deal count has declined, the uptick in value signals continued appetite for meaningful transactions in the region.

Sentiment towards the region remains polarised. Among survey respondents, 6% place CEE first for the strongest anticipated M&A growth in Europe, while 10% rank it first for the lowest growth, reflecting the divided views. CEE is identified by 7% of respondents as the leading investment destination in the coming year.

Horea Popescu, CMS Managing Director for Central and Eastern Europe and Managing Partner CMS Romania, commented: “Central and Eastern Europe continues to demonstrate resilience. While deal volumes declined more than the European average, the increase in deal value shows investors remain committed to meaningful transactions in CEE. With 95% of survey respondents expecting greater US buyer interest in European assets, CEE stands to benefit as acquirers look beyond Western Europe for value.”

Rodica Manea, Corporate Partner at CMS Romania, stated: “Even amid geopolitical volatility and tighter financing conditions, Romania remains firmly on investors' radar. The Polpharma acquisition of Biofarm signals that international buyers see value in our market. Technology and energy are driving M&A expectations across Europe, and Romania is well positioned to capture its share.”

Digitalisation and rising valuations

According to respondents, digitalisation will be the principle buy-side driver of M&A in Europe over the next 12 months, with 33% citing this in their top two and 18% ranking this first, a result consistent with rising digital investment and artificial intelligence outlays. Turnaround opportunities come in second place overall (30%) while consolidation is third (27%).

In a reversal from our last study, when capital raising for expansion in faster growing areas was expected to be the least important sell-side M&A driver, this factor comes out as the most significant this year, cited by 49% of respondents overall.

Financing pains

Over half of respondents (58%) believe financing conditions in Europe will worsen over the next 12 months, reflecting interest rate pressures and tightening credit standards in the region. However, this figure does nevertheless represent a marked improvement from our previous survey, when more than three-quarters of dealmakers (78%) expected financing conditions to deteriorate.

Regarding key sources of capital, half of respondents believe private equity will be the most available financing source over the coming year, given the still-enormous stores of dry powder available to sponsors and the pressure on private equity firms to put that capital to work.

Southern pivot

Though respondents continue to highlight Benelux and the UK & Ireland as the two regions that will see the highest M&A growth over the next 12 months, Southern European markets have recently climbed into dealmakers’ estimations. Nearly a third (31%) of respondents rank Iberia in their top two for accelerating M&A, while 22% say the same of Italy, which last year ranked second bottom. With GDP growth rates in Southern Europe handily exceeding the euro area average, the region is affirming its reputation as a magnet for international M&A.

US influx

Reflecting rising appetite among US buyers for European assets – where targets generally carry less steep valuations than their equivalents in the US might – most respondents (88%) say they have seen more US buyers active in the region over the past 12 months. Respondents expect this cross-Atlantic trend to continue: 95% anticipate seeing more interest from US buyers in European assets over the coming year.

Outlook for 2027

Though megadeals took all the headlines in H1 2026, European M&A over the coming 12 months appears more likely to skew towards value investments. Buyers are on the lookout for turnaround opportunities and are emphasising creative solutions to close valuation gaps. Sellers, meanwhile, are focusing on core business resilience, including considering divestments of peripheral units and raising capital to reinvest in higher-growth segments.

Read the full CMS European M&A Outlook 2027 here: https://cms.law/en/int/publication/cms-european-m-a-outlook-2027

– ENDS –

Methodology

In Q2 2026, Mergermarket surveyed senior executives from 182 corporates and 68 private equity firms based in Europe, the USA and APAC about their expectations for the European M&A market in the year ahead. Among the 250 executives interviewed, 70% are headquartered in Europe, while the remaining 30% are split equally between the USA and APAC. 91% of all respondents have been involved in an M&A transaction in Europe over the past two years and 84% plan to undertake an M&A transaction in Europe in the coming year.

All responses are anonymous and results are presented in aggregate.

About CMS:

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 92 offices in 50 countries across the world, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment, Labour & Pensions, Intellectual Property and Real Estate.

For more information, please visit cms.law

About Mergermarket: Mergermarket blends market-leading human insights, advanced machine learning and 30+ years of Dealogic data to deliver the earliest possible signals of potential M&A opportunities, deals, threats and challenges.

For more information, visit mergermarket.com

 The Faculty of Law of the University of Bucharest, Universul Juridic Publishing House, together with the Romanian Journal of Private Law (RRDP), the Romanian Journal of Case Law (RRDJ), with the support of STOICA & ASOCIAȚII, are organising the “Valeriu Stoica” National Civil Law Conference on 24–25 September 2026. The event will take place at the Faculty of Law of the University of Bucharest, in the ‘Constantin Stoicescu’ lecture theatre, and will bring together renowned professors, researchers and legal practitioners.

The theme of this year’s edition – ‘The exercise of subjective civil rights and procedural rights. Abuse of rights in the Civil Code and the Code of Civil Procedure’ – offers an analysis of one of the areas in which the distinction between the legitimate exercise of a right and its abusive use raises particularly complex issues, in both substantive and procedural law.

Over the course of the two days, the guest speakers will address the fundamentals and limits of the exercise of subjective and procedural rights, the criteria for identifying abuse of rights, the sanctions it entails, as well as the solutions developed by legal doctrine and court practice.

On the first day of the conference, during the fourth panel, scheduled between 15:45 and 17:30, Professor Emeritus Valeriu Stoica, PhD (Founding Partner, STOICA & ASOCIAȚII) will deliver a presentation on the topic ‘The right to unilateral termination and the right to unilateral cancellation, from the perspective of abuse of rights in contractual matters’.

“Abuse of rights is one of those fundamental issues that compels us to revisit the relationship between the freedom of the holder of a right and the limits on its exercise. It is an issue that is both theoretical and deeply practical, present in both substantive law and civil procedure. The conference provides an opportunity for an in-depth analysis of these issues, through dialogue between legal doctrine and case law and through the contributions of leading academics, judges and practitioners. “The value of such an event lies precisely in the diversity of perspectives and in the opportunity to compare theoretical constructs with the practical problems that the application of the law raises on a daily basis,” said Professor Emeritus Valeriu Stoica, Founding Partner, STOICA & ASOCIAȚII.

Details regarding the programme, speakers and conference registration are available on the event page.

The CEE findings reveal several important trends:  

Please find both reports available for download at the links below. 

→ 7th Annual Horváth CxO Priorities Study – Romania Report 
→ 7th Annual Horváth CxO Priorities Study – CEE Report 
 

As the legislative process for transposing the EU Pay Transparency Directive into Romanian law advances, the time available for employers to prepare is gradually diminishing. For organisations that have not yet started assessing the impact of the new requirements, now is an important moment to begin the necessary preparations.

In recent months, an increasing number of organisations have begun reviewing their remuneration practices, job architecture and evaluation frameworks, pay gaps, and HR processes in light of the forthcoming requirements.

Based on projects carried out by the Forvis Mazars team, preparation involves more than simply updating policies or procedures. Organisations must be able to demonstrate that remuneration decisions are grounded in a consistent job architecture and job evaluation methodology, as well as in salary structures and remuneration criteria that are objective, transparent, gender-neutral and applied consistently across the organisation.

To help organisations better understand these changes, Forvis Mazars has prepared a practical summary comparing the key requirements of the EU Pay Transparency Directive with the provisions included in the draft legislation currently under discussion in Romania. The document presents the EU requirements alongside the Romanian legislative proposals, making it easier to identify the main obligations and assess their potential implications for employers.

Access the document here.

The new framework will significantly strengthen employees' rights to access information on remuneration and introduce a higher level of transparency regarding how pay is determined.

Another particularly important aspect is the evaluation and classification of jobs based on an objective methodology tailored to the organisation's specific characteristics and applied consistently across all positions.

The evaluation should take into account criteria such as skills, effort, responsibility and working conditions, supported by the information and responsibilities set out in job descriptions. This enables organisations to identify positions involving the same work or work of equal value and to demonstrate that any differences in remuneration are based on objective, gender-neutral and non-discriminatory criteria.

Although the legislation in Romania is still being finalised, the deadline established at EU level for transposing the Directive, 7 June 2026, has already passed. As a result, once the national legislation is adopted, a significant number of the new employee rights and employer obligations are expected to become applicable within a relatively short timeframe.

Organisations that have not yet begun preparing should therefore review their remuneration structures, job evaluation frameworks and relevant HR processes in advance, rather than waiting for the final version of the legislation. Early preparation can support not only compliance but also a stronger employer value proposition by increasing transparency and reinforcing perceptions of fairness.

At the same time, a lack of preparation may increase exposure to complaints and litigation related to pay discrimination, obligations to pay remuneration differences and compensation, as well as potential sanctions. Organisations that take proactive steps now will be better positioned to manage these risks and meet the new requirements effectively.

If you would like to learn more about the potential impact of the new requirements on your organisation, the Forvis Mazars team is available to assist you.

Bucharest, September 8, 2026 – Deloitte Romania is expanding its management team through the promotion of Andrei Evi, from the Financial Advisory practice, Elena Barbu, from Audit and Assurance, and Dan-Alexandru Marin, from the Cybersecurity team in the Consulting practice, to director positions, effective as of September 2026.

“Despite the challenging overall environment, we continue to report sustained growth across our firm this year, allowing us to deliver on the ongoing career advancement opportunities that underpin our business model. At Deloitte, we are privileged to rely on professionals who combine expertise with a collaborative mindset, a commitment to continuous development, and a strong focus on the success of their teams and of the clients they assist. Developing future leaders is a strategic priority for our organization, and recognizing outstanding contributions is a key part of how we support this journey. We are proud to have colleagues who help strengthen trusted relationships, contribute to business growth, and support the development of the local business community every day,” said Alexandru Reff, Country Managing Partner, Deloitte Romania and Moldova.

Andrei Evi, Financial Advisory Director, has more than 15 years of experience in banking and finance in Romania and Austria, complemented by a background in law. At Deloitte, he has led teams delivering risk and regulatory projects for financial institutions across Romania and Central and Eastern Europe and has contributed to projects carried out by four European supervisory authorities aimed at developing disclosure and reporting tools and guidelines. He has also been involved in European Bank for Reconstruction and Development (EBRD) programmes for partner banks in the Western Balkans and Moldova. In addition, he has helped develop new service offerings for banks, including the integration of climate and ESG-related risks into collateral valuation and management methodologies for financial institutions in Romania and across the region.

Elena Barbu, Audit and Assurance Director, joined Deloitte Romania in 2019 and has more than 12 years of experience in financial audit and assurance. She has led complex audit engagements for multinational and entrepreneurial companies operating in industries such as retail, consumer products, distribution, manufacturing, and healthcare, working with leading organizations in Romania. Her expertise includes audits performed under both Romanian Accounting Standards (RAS) and International Financial Reporting Standards (IFRS), advisory services on complex accounting matters, mergers and spin-offs, and financial statement preparation. Elena also plays an active role in developing the Audit and Assurance practice through team leadership and her involvement in recruiting and developing the next generation of professionals. She holds a Bachelor’s degree in Accounting and Management Information Systems from the Bucharest University of Economic Studies and is a member of ASPAAS, CAFR, and CECCAR.

Dan-Alexandru Marin, Cybersecurity Director in the Consulting practice, has nearly 20 years of experience in information technology and cybersecurity. Throughout his career, he has developed extensive expertise in areas such as penetration testing, red teaming, and offensive security, leading complex projects for organizations in financial services, healthcare, aviation, automotive, education, and the public sector. At Deloitte Romania, he has led and contributed to cybersecurity assessments for major institutions and organizations, including central banks, commercial banks, healthcare providers, and multinational companies. His experience includes TIBER-RO red-team engagements, web and mobile application security testing, network infrastructure assessments, and cloud security testing.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. The firm’s professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 180-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its over 470,000 people worldwide.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,300 professionals.

Please see Deloitte.ro to learn more about the global network of member firms.

Expert: Dagmara Barwa, Deputy Customs Product Director, Rohlig SUUS Logistics

From 1 February 2027, EU member states will begin selling certificates under the carbon border adjustment mechanism, with purchases processed through a central platform integrated with the CBAM registry. A single application can cover between 1 and 99,999 certificates. Under the draft rules, once a purchase application has been submitted its content cannot be changed, and withdrawal will only be possible before payment is completed. Settlements will be processed in euro, and each certificate purchased will carry an administrative fee of EUR 0.05.

The certificate price itself is not negotiable – it is derived from the weighted average of EU ETS allowance auction prices. The European Commission set it at EUR 75.36 per tonne of CO₂ in the first quarter of 2026 and EUR 75.28 in the second. From 2027 onwards, publication will move from a quarterly to a weekly cycle, narrowing the gap between allowance quotations and the certificate purchase price.

The European Commission estimates that once the 50-tonne threshold is introduced, around 18,000 importers will remain within the mechanism's scope, down from the previous 200,000. Poland is overrepresented in this group: 3,256 domestic declarants were registered during the transitional period – the second-highest figure in the entire European Union. The Commission has concluded consultations on the draft regulation setting out the mechanics of certificate purchase and repurchase. The most important changes concern the centralization of transactions and the rules for settling surpluses.

Only one repurchase application per year

Importers will be able to submit one repurchase application per year. To use this option, the required number of certificates must first be surrendered by 30 September of the given year, and the application itself needs to be submitted by 31 October – failure to meet this deadline will result in the loss of the right to repurchase. The scope of repurchase is further limited: it covers only the number of certificates the declarant was required to acquire that year under the quarterly obligation. The authority reviews applications three times a year – 1 April, 1 July and 1 November – and has 42 days to do so.

A certificate left unused on the account cannot be bought back from the importer by any other company. Certificates which are neither surrendered nor covered by repurchase are cancelled without compensation on 1 November. Therefore, excess purchases become an unrecoverable cost. This means that forecasts of import, goods volumes and embedded emissions will directly shape financial planning.

2027: two compliance tracks in parallel

From 2027, purchasing certificates will require importers to plan on an ongoing basis, rather than simply settling obligations once the reporting period ends. It will be the initial year in which the mechanism will follow two tracks at the same time. The first is the settlement of 2026 with declaration and surrender of certificates by 30 September 2027. The second is a new quarterly obligation: starting 31 March 2027, at the end of each quarter the authorised declarant's account is required to hold a number of certificates equivalent to at least 50 percent of the embedded emissions in goods imported since the beginning of the year. Companies should therefore be prepared to combine customs data, information obtained from suppliers, and import volume forecasts with the CBAM timetable.

Costs will rise, and the mechanism's scope will expand

Companies should plan beyond one year, as the financial burden will gradually increase. The mechanism is being phased out in parallel with free ETS allowances: in 2026, importers will pay for 2.5 percent of embedded emissions; in 2027 – 5 percent; in 2030 – 48.5 percent, reaching the full 100 percent by 2034. The markup on default values – applied when an importer has not received verified data from a supplier – is rising, as well, from 10 percent in 2026 to 20 percent in 2027 and, effective from 2028, to 30 percent for steel, aluminium, cement and hydrogen. The default values themselves are no longer fixed either: implementing regulation 2026/1740, published on 31 July 2026, corrects them retroactively from 1 January 2026, so companies which calculated emissions using previously downloaded tables are obliged to recalculate them.

At the same time, the mechanism's scope itself is expanding. The European Commission has proposed bringing 180 processed products with a high steel and aluminium content – i.a. metal structures, machinery and automotive components – under CBAM from 1 January 2028. The Council of the EU adopted a general approach on 12 June 2026 and supported the including of post-production scrap into the mechanism, while the European Parliament's Environment Committee came out in favour of extending it to more than 400 product codes. The final list is still under negotiation, which is why it is worth starting a review of tariff classification, origin and the supplier base now.

How to prepare for the new rules?

Despite the narrowing of the mechanism's scope, Poland remains one of the key markets where preparing for the new obligations will be particularly important. Companies should organise their customs data, information regarding the origin and weight of goods, as well as their embedded emissions data, and import forecasts.

At Rohlig SUUS Logistics, we support businesses at every stage of CBAM obligations compliance – from reporting and calculating emissions, through obtaining authorised declarant status and preparing annual declarations, to planning settlements and certificate purchases.

The draft regulation on the sale and repurchase of certificates has not yet been adopted, so its final wording may change. The sales start date – 1 February 2027 – follows from the regulations currently in force.

***

About Rohlig SUUS Logistics

Rohlig SUUS Logistics is the largest Polish logistics operator and one of the leading operators in Central and Eastern Europe and Central Asia. It specialises in the comprehensive management of logistics and global supply chains. The company carries out logistics processes using road, sea, air, rail and intermodal transport, and also offers contract logistics, customs services and project cargo. In addition, Rohlig SUUS Logistics offers supply chain design tailored to clients' specific needs as Supply Chain Solutions. In 2025, the company generated revenue of PLN 2.6 billion. It currently employs more than 2,600 people across more than 40 branches in 9 countries and manages more than 385,000 m² of warehouse space. It is one of the few Polish companies with decarbonisation targets approved by SBTi.

The LIDC Congress 2026 will take place in Bucharest, Romania, between 15-18 October 2026, bringing together an outstanding line-up of internationally renowned speakers, including Richard Whish (Emeritus Professor, King's College London), Maria Jaspers (Director, DG Competition, European Commission), Josef Drexl (Professor, University of Munich and Director, Max Planck Institute), Eugene Regan (Judge, Court of Justice of the European Union), Ioannis Kokkoris (Professor, Queen Mary University), and Vivien Terrien (Vice-Chairman, French Competition Authority), alongside many distinguished judges, practitioners, academics and competition law experts from across Europe and beyond. The scientific program will address some of the most pressing issues in competition and intellectual property law, including merger control, foreign investment screening, new forms of implementing cartels, digital markets, defence rights in antitrust litigation, developments in copyright litigation, standard essential patents, and the evolving relationship between competition and IP law.  

Beyond the scientific discussions and networking, the Congress offers an exceptional social programme, including welcoming cocktail on Thursday evening, dinner at Cotroceni, Gala Dinner at UNDA (a spectacular restaurant by the lake) and cultural visit to Mogoșoaia Palace.

Registration for the LIDC Congress 2026 in Bucharest is now open at https://arcon.org.ro/en/lidc-registration/.

For more information, please find attached the full program and the event's magazine.  

 CMS has advised leading Norwegian renewable energy solutions provider Scatec ASA (Scatec) on the agreement to acquire the 77 MW Urleasca onshore wind project from OX2, a leading European renewable energy developer, marking its entry into the onshore wind market in Europe. This deal complements Scatec’s existing 190 MW Dobrun & Sadova solar portfolio in Romania. CMS also advised Scatec on the acquisition and project financing of the Dobrun & Sadova portfolio, which represented Scatec’s first transaction in the Romanian market. Scatec is a leading renewable energy solutions provider that develops, builds, owns, and operates renewable energy plants, with 6.4 GW generation and 2 GWh storage capacity in operation and under construction across five continents. 

CMS advised Scatec on all legal and tax aspects of this highly complex transaction, including the coordination of an integrated multi-stream due diligence process covering the full suite of project, construction and supply arrangements, including the Turbine Supply Agreement (TSA) and Balance of Plant (BoP) contracts. CMS also advised on the transaction structuring, drafting and negotiation of the transfer documentation and execution of the transaction, and will continue to assist Scatec with obtaining the necessary regulatory clearances and all closing-related matters.

Varinia Radu, Head of Energy and Climate Change at CMS Romania and Deputy Head of the CEE Energy, Projects and Construction (EPC) practice, comments: “Scatec’s expansion of its Romanian portfolio with its first wind asset marks a significant milestone. This deal further demonstrates the depth of investor interest in the Romanian renewable energy sector and CMS’s market-leading capability in structuring and executing such complex transactions. We are grateful for having the opportunity to work together with Scatec in another transaction in Romania and we look forward to strengthening our collaboration.”

Ramona Dulamea, Energy Senior Counsel of CMS Romania, comments: “We are pleased to have supported Scatec in further expanding its Romanian renewable energy portfolio through this transaction. Beyond its scale, the deal stands out for its dynamics in a revolving market and the level of complexity involved across the project, construction and transaction workstreams.”

The CMS team was led by Ramona Dulamea (Energy), Catalin Vasile (Corporate M&A) and Edwina Udrescu (EPC), under the coordination of Varinia Radu (Energy). The wider team included Andrei Tercu (Tax); Alexandru Trandafir (Real Estate); Mircea Moraru (Corporate M&A); and Claudia Nagy (Competition & FDI).

Unser Mitglied MENSAVE veranstaltet ein kostenloses Webinar zu den Grundlagen der Ersten Hilfe sowie zur Anwendung eines automatisierten externen Defibrillators (AED). Die Teilnehmenden erhalten praxisnahe Einblicke und wertvolle Empfehlungen für den professionellen Umgang mit Notfallsituationen im Arbeitsalltag. 

Über MENSAVE

MENSAVE ist ein rumänisches Unternehmen, das sich auf Erste-Hilfe-Schulungen spezialisiert hat und diese landesweit anbietet. Mit seinem Engagement für Notfallvorsorge und Gesundheitsbildung vermittelt MENSAVE essenzielle Kenntnisse und Fähigkeiten, die im Ernstfall Leben retten können.

✅ Kostenfreie Teilnahme für Mitglieder der AHK Rumänien
✅ Praxisnahe und direkt im Arbeitsalltag anwendbare Inhalte
✅ Begrenzte Teilnehmerzahl

📅 Montag, 28. September 2026
🕚 10:30 Uhr

🔗 Anmeldung und weitere Informationen: Webinar MENSAVE

 

•68% of companies expect artificial intelligence solutions to improve efficiency and shorten tax audits

•45% of participants believe AI-driven tax audit findings will be more difficult to understand and challenge

The complexity of tax regulations, particularly those related to transparency and reporting requirements, remains the most significant tax policy challenge facing multinational companies (65%) for the third consecutive year, while most organizations (84%) expect these obligations to become even more stringent over the next two to three years, according to the Deloitte 2026 Global Tax Policy Survey. Therefore, 40% of respondents identify increasing compliance requirements as the factor with the highest impact on business operations. At the same time, when evaluating investment decisions, tax stability and certainty are considered just as important as the overall level of taxation, with both factors cited by between 50% and 60% of participants.

The digitalization of tax is also a key concern for surveyed companies (56%), as it promises to enhance efficiency for both businesses and tax authorities, while also involving additional costs and implementation challenges.

Reactions to AI-based tax compliance software were predominantly positi8ve. The main anticipated benefits include improved accuracy of tax processes (29%), more time available for core operations (18%), improved compliance (15%), and other advantages. However, companies also recognize the additional costs and operational complexity associated with implementing AI-based tax solutions (15%).

In tax audits, AI-powered solutions are seen as an efficiency driver, leading to faster and more effective audits (68%) as well as more targeted inspections and, consequently, fewer information requests from tax authorities (59%). On the other hand, 45% of respondents expect AI-driven tax audit findings to be difficult to understand and challenge.

Tax Administration 3.0 agenda continues to gain momentum globally. Nearly two-thirds of participants (60%) report progress in implementation across the jurisdictions in which they operate, while 27% have observed significant developments. Expected benefits include reduced time and resources spent on tax compliance (26%), more collaborative relationship with tax authorities (23%), improved taxpayer services (17%), and fewer but more effective tax audits (14%). However, almost one in five participants (19%) believe that the digitalization of tax administration could result in additional costs and increased complexity.

Regarding electronic invoicing, confidence in its benefits has moderated compared to previous years, reflecting high implementation costs and increasingly complex technical requirements. While simplified tax compliance (36%) remains the primary perceived advantage, significant investment in systems and technology (37%), together with increased operational complexity (25%), continue to be areas of concern among taxpayers.

“The findings of this year’s survey send a very clear message: regulatory complexity remains the most pressing tax challenge for companies worldwide. The combination of reporting requirements, compliance burdens, and the additional costs associated with tax digitalization is exerting increasing pressure on businesses. At the same time, the benefits expected from simplification and modernization initiatives will take time to fully materialize. Romania reflects many of these global trends, as companies operating locally are subject to both international tax rules, such as the global minimum tax and sustainability-related requirements, and an increasingly complex domestic tax landscape. Over recent years, this complexity has been amplified by multiple digital reporting requirements, which have so far represented more of a financial and administrative burden than a benefit for taxpayers. A key challenge remains the tax administration’s ability to fully process and leverage the large volumes of data collected through these reporting systems to serve their intended purpose – to simplify procedures for compliant taxpayers and strengthen the early detection of tax evasion-, due to the lack of adequate IT infrastructure within the tax administration,” said Vlad Boeriu, Tax & Legal Partner-in-Charge, Deloitte Romania.

In these circumstances, the study’s participants believe that reducing complexity and disproportionate compliance burden should remain a central focus of global tax policy. One example is the introduction of simplification mechanism related to the implementation of the global minimum tax (Pillar Two of the OECD tax reform), intended to ease compliance obligations for both businesses and tax administrations. About 80% of participants expect their organizations to benefit from this mechanism, suggesting that the new framework will have broad applicability.

However, the appetite for even further simplification in this area remains strong – 41% of companies believe simplification efforts should continue, while 58% expect certain areas of tax compliance to become even more complex in the coming years.

From a financial perspective, 88% of participants anticipate higher tax liabilities as a consequence of Pillar Two implementation.

Deloitte 2026 Global Tax Policy Survey, now at its 13th edition, was conducted among tax managers and CFO’s, in order to analyse the impact of new international tax regulations on companies worldwide. This year’s survey involved more than 1,000 tax leaders in 28 countries.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. The firm’s professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 180-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its over 470,000 people worldwide.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,300 professionals.

Please see Deloitte.ro to learn more about the global network of member firms.

The STOICA & ASOCIAȚII team, comprising the lawyers Dragoș Bogdan (Managing Partner), Mihai Stănescu (Managing Associate) and Ingrid-Amelia Apetrei (Managing Associate), has secured, at first instance, for its client Terapia S.A., the market leader in this sector in Romania, the right to continue marketing food supplements containing the substance ‘methylene blue’. The Cluj Court of Appeal ordered the suspension of the administrative acts issued by the National Institute of Public Health (INSP), which had annulled the notification certificates – that is, the documents on the basis of which these products may be legally marketed in Romania. The court’s decision halts, at least temporarily, the measure that would have blocked the sale of stock worth over 60 million lei, in a market estimated to be worth over 200 million lei.

The INSP based its decision on an alert issued in 2025, more than a year before the certificates were revoked, via the European RASFF (Rapid Alert System for Food and Feed). This alert, stating that methylene blue was not authorised as a food ingredient in the EU, had been issued by Belgium, without any reference to Terapia S.A.’s products, and was the only one of its kind in the more than 20 years that the RASFF system has been in operation. The INSP based its intervention on Law No. 56/2021, a piece of legislation which, however, expressly excludes herbal food supplements from its scope – that is, precisely the type of product targeted by the cancellation measure.

Dragoș Bogdan: “The absurdity of the cancellation measure – taken more than a year after the alert was issued – stems from a combination of factors which, I hope, merely indicate an excessively bureaucratic approach, rather than a deliberate intervention by the authority to distort the market. On the one hand, according to the relevant European regulations, only substances that were not consumed to any significant extent by the EU population prior to 15 May 1997 are subject to authorisation. However, methylene blue has been documented as being used for medical and therapeutic purposes and as a supplement since the 19th century. I remember my mother forcing me to swallow methylene blue when I was little... 

On the other hand – and this strikes me as utterly outrageous – although the INSP has revoked the certificates for the market-leading products, I can now buy methylene blue from a chemist’s without a prescription, over the counter, in a wide variety of forms (including as the pure substance). Furthermore, another 40 supplements containing methylene blue, produced by other companies, are doing just fine; they are not affected in any way by any measure imposed by any authority.”

With a history spanning over 30 years in the business law market, STOICA & ASOCIAȚII has gained national and international recognition in the legal and business worlds through its comprehensive legal assistance and representation of a vast portfolio of clients. Since its establishment in 1995 to the present day, the lawyers at STOICA & ASOCIAȚII have demonstrated that they are a strong team, founded on adherence to its principles: Fidelitas, Integritas, Fortitudo. STOICA & ASOCIAȚII has earned an excellent national and international reputation. Its professional achievements are recognised in the leading legal directories: Chambers Europe, Legal 500, WTR 1000 and IAM Patent 1000.

Bucharest's office market continues to strengthen its fundamentals, supported by a recovery in occupier demand driven by new lease transactions and expansions, against a backdrop of limited new supply. Net take-up accounted for 73% of the total leasing activity in H1 2026, up from 53% during the same period of 2025, highlighting a shift in corporate strategies as companies resume growth and expansion plans.

At the same time, the citywide vacancy rate continued its downward trend to 11.6%, the lowest level since Q3 2020. This trend was primarily supported by stronger demand from companies operating in the IT&C sector.

According to the Cushman & Wakefield Echinox Marketbeat Office Q2 2026 report, the total office take-up in Bucharest reached 109,500 sq. m during the first six months of the year, of which 60,400 sq. m were leased in the second quarter alone. Although the overall leasing activity remained approximately 10% below the level recorded in H1 2025, the structure of demand points to a rebound in transactions with a positive net impact on office occupancy levels.

The IT&C sector regained its position as the largest occupier segment in the capital city, leasing more than 30,500 sq. m in H1 2026, nearly double the volume registered during the same period last year. By contrast, the financial sector, which led leasing activity in 2025, recorded a significant decline in transaction volumes.

Among the most notable office transactions completed during the second quarter were Rohde & Schwarz Topex's 9,600 sq. m renewal and expansion in IRIDE Business Park 19 (Dimitrie Pompeiu), Veolia’s pre-lease of 6,000 sq. m in Green Court D (Floreasca-Barbu Vacarescu), Strabag's pre-lease of 4,600 sq. m in Queens District (Floreasca-Barbu Vacarescu), as well as Evoke’s renewal of 2,400 sq. m in Bucharest Business Garden (Center-West).

On the supply side, the market continues to be defined by a lack of new deliveries. No office projects were completed during the first half of the year, keeping Bucharest's modern office stock stable at approximately 3.43 million sq. m.

Looking ahead, market prospects remain encouraging, with approximately 216,000 sq. m currently under construction and scheduled for delivery in phases through early 2028. Given this development timeline, the shortage of high-quality office spaces is expected to persist on short and medium terms, maintaining upward pressure on prime rents across the city.

The five largest office projects currently under construction are the second phase of Timpuri Noi Square (Center, 60,000 sq. m, developed by Vastint), ARC Project (Center-West, 30,000 sq. m, developed by PPF Real Estate), AFI Central Tower (Center, 28,000 sq. m, AFI Europe), Queens District (Floreasca-Barbu Vacarescu, 23,000 sqm, Speedwell) and One Technology District (Dimitrie Pompeiu, 20,600 sq. m, One United Properties).

The growing imbalance between rising demand and restricted supply continues to reinforce market fundamentals and support rental growth, particularly in best-in-class buildings. The prime headline rents remained stable in Q2, with levels between € 21.00 - 22.00/ sq. m/ month being the norm in non-boutique projects in CBD (a series of high-profile buildings have asking rents of up to € 25.00 - 26.00).

From a regional perspective, Bucharest remains one of the most competitive office markets in Central and Eastern Europe. Its rental benchmarks are broadly comparable to those in Bratislava and remain below levels recorded in Warsaw and Prague. Across the CEE region, prime office rents increased by approximately 5% year-on-year, outperforming the European average of 4.5%.

Mădălina Cojocaru, Partner Office Agency, Cushman & Wakefield Echinox: "One of the most relevant signals in today's market is the increasing share of new lease transactions and expansions, which reflects growing confidence among occupiers in their business development prospects. At the same time, the office is once again becoming a key tool for employee retention and collaboration, prompting companies to seek higher-quality, more efficient and better-designed workplaces that support evolving work models. This demand, however, is meeting an increasingly constrained supply environment. New project deliveries remain limited, vacancy continues to decline, and occupancy levels in some of Bucharest's most sought-after CBD areas, including Piata Victoriei, Dorobanti and Buzesti, have already exceeded 95%. In this context, early real estate planning becomes essential. Companies considering relocation or expansion should start the process well in advance to secure access to high-quality, well-located office spaces in a market where the best opportunities are becoming increasingly scarce."

Cushman & Wakefield Echinox is the exclusive affiliate of Cushman & Wakefield in Romania, an independently owned and operated company. With a team of more than 80 professionals, the company provides a full range of real estate consultancy services to investors, developers, owners and occupiers. For more information, please visit www.cwechinox.com. 

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 53,000 employees in nearly 60 countries and across more than 350 offices. In 2025, the firm reported revenue of $10.3 billion across its core service lines of Services, Leasing, Capital Markets, Valuation and others. For additional information, visit www.cushmanwakefield.com. 

Deloitte Romania is pleased to invite you to the 4th edition of the CE Financial Crime Symposium, taking place on September 10, 2026, at Radisson Blu Hotel Bucharest, situated in 63-81Calea Victoriei, Bucharest, Romania, between 09:00 and 15:00.

The symposium will bring together Deloitte’ specialists and representatives of financial institutions, non-financial businesses, corporations, regulatory authorities and law enforcement agencies to exchange perspectives on the rapidly evolving financial crime landscape.

The discussions will explore current European and Romanian developments in anti-money laundering, fraud prevention and anticorruption, focusing on emerging risks, regulatory expectations and practical measures that organizations can implement to strengthen their compliance and investigation frameworks.

The agenda will cover the following topics:

• Financial crime landscape in 2026: the convergence of money laundering, fraud, corruption, cybercrime and sanctions evasion;
• Preparing for the new EU AML framework: AMLA’s role and emerging requirements concerning customer due diligence, beneficial ownership, risk assessment and transaction monitoring;
• The new face of fraud: artificial intelligence, deepfakes, social engineering, impersonation, payment fraud and mule-account networks;
• Anticorruption compliance in a changing regulatory environment, including public procurement, EU funds, conflicts of interest, third-party risks and whistleblowing;
• Follow the money: internal investigations, corporate intelligence, crypto-assets, complex corporate structures and cross-border financial flows; AI & technology.

These topics are relevant across a wide range of industries, with particular significance for Financial Services, Real Estate, Professional Services, Gambling, Retail and Consumer Businesses, Manufacturing, Import and Export, Oil & Gas, Pharmaceuticals, Automotive, Technology, and Power & Utilities.

The discussions will be conducted in both English and Romanian and simultaneous translation will be provided

More details about the agenda and speakers will follow soon.

Participation to the event is free of charge. The physical attendance is limited to 2 participants per company. Please note that seating is limited, and allocation will be conducted on a first-come, first-served basis. Due to the restricted number of seats available, early registration is encouraged to secure your place.

Please confirm your attendance by August 31, 2026, by registering via the link below.

Bucharest, 6 August 2026 – Wolf Theiss advised the shareholders of three companies active in the electrical power industry (i) Electroechipament Industrial S.R.L., (ii) Electroechipament S.R.L. and (iii) General Equipment Automation S.R.L., on the sale of their shares to Adrem Group, one of the largest contractors and service providers in the electrical power industry. The transaction was signed on 29 July 2026 and remains subject to the necessary approvals from the relevant authorities.

Electroechipament Industrial Group (EEI Group) is a Romanian entrepreneurial business with more than 30 years of experience in developing energy infrastructure. It specialises in the design, construction and commissioning of electrical substations and power networks, industrial automation systems and electrical installations.

Wolf Theiss acted as legal advisor to the shareholders of the three companies throughout all stages of the transaction, including assistance during the due diligence process as well as the drafting and negotiation of the transaction documents. The transaction involved the simultaneous sale of three complementary businesses operating across the engineering, automation and distribution sectors within a single transaction framework.

The Wolf Theiss team was led by Partner Ileana Glodeanu and Counsel Luciana Tache and further included Senior Associate Delia Dumitrescu, Associates Vlad Catană, Marius Moldoveanu and Laurenţiu Bolborici (all Corporate/M&A), Partner Anca Jurcovan, Senior Associate Maria Popescu (both Competition & Antitrust) and Partner Adelina Iftime-Blăgean (Employment).

“We greatly valued the exceptional expertise and dedication of the Wolf Theiss team which played a key role in achieving the successful signing of the transaction. Ileana and her team guided us through the process with professionalism and responsiveness, and their strategic insights were highly appreciated." – Iancu Suteanu, CEO & Co-Founder Electroechipament Industrial Group

“We were pleased to advise the shareholders of Electroechipament on this transaction. We would like to thank the Electroechipament Industrial Group shareholders for their trust, the Adrem team and all advisors involved for the constructive collaboration throughout the process.” – Ileana Glodeanu, Partner

About Wolf Theiss

Founded in 1957, Wolf Theiss is one of the leading law firms in Central, Eastern and South-Eastern Europe (CEE/SEE). We have built our reputation on unrivalled local knowledge which is supported by strong international capabilities. With 400+ lawyers in 13 countries and a central European hub in Brussels, over 80% of the firm's work involves cross-border representation of international clients.

Austria, Albania, Bosnia and Herzegovina, Brussels, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia and Ukraine, Wolf Theiss represents local and international industrial, trade and service companies, as well as banks and insurance companies. Combining law and business, Wolf Theiss develops comprehensive and constructive solutions on the basis of legal, fiscal and business know-how.

Bucharest, August 3, 2026 – A multidisciplinary team of 33 specialists from Deloitte Romania, with expertise in audit, financial advisory, tax, valuation, risk and regulation, together with lawyers specialized in financial-banking law, state aid and public procurement, corporate law and personal data protection from Reff & Asociații | Deloitte Legal assisted Investment and Development Bank (IDB) in the pillar assessment carried out by the European Commission (EC).  This type of assessment is one of the most complex institutional evaluation processes applied to organizations that can manage financial instruments financed from the European Union budget, and its completion marks the fulfillment of a milestone assumed by Romania as part of the National Recovery and Resilience Plan (PNRR).

"The pillar assessment is a process that thoroughly tests the way a financial institution is built and operates. Conducting such an assessment requires both technical expertise and an ongoing dialogue between the auditor and the organization. We appreciate the professionalism and independence of the Deloitte Romania team, which carried out this mission with rigor and objectivity, in accordance with the European Commission’s standards", said Raluca Nicolescu, General Manager, Investment and Development Bank.

The multidisciplinary team Deloitte Romania and Reff & Asociații, which assisted IDB throughout the entire evaluation process, brought together legal, regulatory, financial, tax, governance, risk management, cybersecurity and digital operational resilience expertise, to meet the complex needs of the project. Deloitte Romania's advisory team  consisted of Claudiu Ghiurluc, Andrada Tănase, Alexandra Smedoiu and Alin Chitu, Partners, Laura Lică-Banu and Andrei Stan, Directors, Andreea Micu, Cristina Rusu, Cristina Viisoreanu, Cristina Cojocaru, Angela Borza and Silvia Mata, Senior Managers, Lavinia Munteanu, Miruna Ciopeală and Paul Evi, Managers, Victoria Tocan, Florin Iordănescu, Gheorghe Borta, Ioana Popa, Marinela Tanase and Ioana Popa, Senior Consultants, Luca Birtalan, Cătălin Simache, Consultants. The financial-banking, corporate, public procurement, personal data protection teams of Reff & Associates included Andrei Burz-Pînzaru and Georgiana Singurel, Partners, Silvia Axinescu, Counsel, Adrian Coman and Roxana Bratosin, Senior Managers, Bogdan Vlad, Corina Damaschin and Florin Grumeza, Senior Associates, Sebastian Maxiniuc and Tudor Munteanu-Jipescu, Associates.

"This mission confirmed our multidisciplinary team’s ability to meet exceptionally rigorous requirements, at the intersection of audit, financial, legal and regulatory expertise. The successful completion of the pillar assessment for IDB is a result with a direct impact on the way in which Romania will be able to access European Union funds, and Deloitte's contribution to this approach reflects our commitment to projects of strategic importance for the national economy", said Andrada Tanase, Partner, Advisory, Deloitte Romania. 

"More than 4,000 hours invested by a team of 33 Deloitte professionals with skills and knowledge covering both the specific requirements of the nine pillars defined by the European Commission, as well as a good part of the IDB's operational, governance, risk management and financial processes, all summarized in a 400-page report (including appendices) that met the requirements of the European Commission. I feel privileged to have been part of such a team that successfully delivered a project of special importance for both IDB and Romania", said Claudiu Ghiurluc, Partner, Audit and Assurance, Deloitte Romania.

The EC assessment confirms the strengthening of the bank's capacity to implement financial instruments supported by European Union funds and comprised nine pillars: the internal control system, the accounting system, independent external audit, providing financing from EU funds through grants, procurement, financial instruments, exclusion from access to finance, publication of information on recipients and protection of personal data.

Investment and Development Bank is the only development bank 100% owned by the Romanian state, through the Ministry of Finance. IDB contributes to Romania's economic and social development by facilitating access to finance, mobilizing investments, and implementing financial instruments that support the economy's competitiveness, innovation, and the transition to sustainable development.

Deloitte provides industry-leading audit and assurance, tax and legal, consulting, financial advisory, and risk advisory services to nearly 90% of the Fortune Global 500® and thousands of private companies. The firm’s professionals deliver measurable and lasting results that help reinforce public trust in capital markets, enable clients to transform and thrive, and lead the way toward a stronger economy, a more equitable society and a sustainable world. Building on its 180-plus year history, Deloitte spans more than 150 countries and territories. Its objective is to make an impact that matters through its over 470,000 people worldwide.

Deloitte Romania is one of the leading professional services organizations in the country providing, in cooperation with Reff & Associates | Deloitte Legal, services in audit, tax, legal, consulting, financial advisory, risk advisory, business processes as well as technology services and other related services, through 3,300 professionals.

Please see Deloitte.ro to learn more about the global network of member firms.