The Capital Markets practice of Clifford Chance Badea, the Bucharest office of global law firm Clifford Chance, has advised OMV Petrom in relation to the delisting of its Global Depository Receipts (GDRs) from the London Stock Exchange.

The Clifford Chance team led by Mădălina Rachieru-Postolache, partner and Head of the Capital Markets practice, and senior associate Gabriel Toma has provided OMV Petrom with Romanian and English law legal assistance during the entire process, including the communication with the regulatory authorities in Romania, the Financial Conduct Authority and the London Stock Exchange. The English law aspects were covered by James Koessler (senior associate in the London office of Clifford Chance) and Mathias Toubiana (associate).

Mădălina Rachieru-Postolache said: “Working with OMV Petrom team is always a privilege and we thank OMV Petrom for having entrusted us with another interesting project. After having advised on all the listings of GDRs by Romanian companies on the London Stock Exchange (Romgaz, Electrica, Fondul Proprietatea and OMV Petrom), I am particularly proud of being able to see the circle completed with this delisting, which is also a sign that the Romanian capital market has reached that competitive edge so as to compete with the largest European capital markets.”

The Bucharest Capital Markets practice is acknowledged by all major international legal directories as one of the top Romanian law firms in the field (the Tier 1 category) for more than 17 years. The Capital Markets portfolio successfully advised by Clifford Chance Badea in the past 12 months now exceeds EUR 20 billion, the Bucharest team advising on all major mandates launched in Romania, as well as a series of complex transactions at global level.