This transaction marked the entry onto the Romanian market of LDC Group, by means of its Hungarian holding, LDC Tranzit Holding ZRT, in view of operating and expanding the production and processing of poultry business of Calibra M&D Impex in Hunedoara area.

The Romanian Government, through the Ministry of Finance, has launched a draft law for public consultation aimed at amending and supplementing Government Emergency Ordinance no. 99/2006 on credit institutions and capital adequacy. The main goal is to incorporate into national legislation the amendments to Directive 2013/36/EU introduced by Regulation (EU) 2023/1114 on crypto-asset markets (MiCA Regulation). It should be noted that Romania must implement these changes by December 30, 2024, to comply with the MiCA Regulation requirements.

According to a press release issued by the Ministry of Labor, as a result of discussions within the National Tripartite Council for Social Dialogue, the provisions of the Collective Labor Agreement have been extended to the entire banking sector in Romania, as they have become applicable to all banking entities. It is our understanding from this press release that approximately 45,000 employees in the sector will benefit from this extension, marking a first in the field of social dialogue.

This marks the first such authorization under the new regulations for a payment institution in Romania, allowing for the acceptance of payment operations both online and in physical locations.

KPMG Legal – Toncescu și Asociații, the Romanian law firm affiliated with KPMG in Romania, is pleased to announce the promotion of four of its counsels to Partner: Cristina Roșu, Irina Stănică, Dragoș Iamandoiu, and Călin Dragoman. This well-deserved recognition reflects their dedication and outstanding contributions to the firm’s success. With these promotions, KPMG Legal now has a team of eight partners, including Laura Toncescu (Head of KPMG Legal – Toncescu și Asociațiii), Nicoleta Mihai, Sebastian Olteanu and Alexandru Mocănescu. This expansion further enhances the firm's leadership and ability to deliver top-tier legal services.