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bpv GRIGORESCU STEFANICA advised Infineon Technology in relation to a EUR 57 million office lease agreement with One United Properties

bpv GRIGORESCU STEFANICA advised German company Infineon Technologies, a world leader in semiconductor design and manufacturing, in the negotiation of a EUR 57 million lease agreement with leading property development group One United Properties. The contract represents one of the largest office leases ever recorded in the local market.

The contract is for the turn-key delivery of a sustainable 20,950 sqm GLA office building for the German technology company. This first-class real estate project is to serve Infineon’s needs for a period of 15 years, starting in 2026.

Advising on this lease is part of the ongoing assistance provided by bpv GRIGORESCU ȘTEFĂNICĂ to the German company Infineon Technologies, in strengthening its position on the Romanian market and in its continued expansion in Romania, including advising Infineon Technologies on the conclusion of other office space leases in Romania.

bpv GRIGORESCU STEFANICA’s team was involved in all stages of the negotiation of this contract and will continue to assist Infineon Technologies in all development stages of the project, providing legal assistance on the implementation of all contractual provisions related to the delivery of the turn-key project and the works required by Infineon Technologies in order to obtain LEED Platinum certification.

Our team included Anca Albulescu, Partner (Real Estate, Corporate/ M&A, Due Diligence), Alina Tyelu, Managing Associate (Real Estate), Angelina Danaila, Associate (Real Estate).

“In the current context, the lease agreement between Infineon Technologies and One United Properties represents a unique opportunity in the Romanian office market. Our client’s decision shows the company’s continued trust in the potential of Romania to further grow high-tech semiconductor chip R&D activities.”, said Anca Albulescu, Partner, GRIGORESCU STEFANICA

“We value the long term collaboration with GRIGORESCU STEFANICA and their legal advice in establishing the contract for this important project for Infineon in Romania”, said Guenter Krasser, Vice President and Managing Director of Infineon Romania.

The last year’s success of our Real Estate practice area continues into 2023, which confirms to be a very active year, with several running mandates currently in various stages of completion. Recently, our team advised:

(i) Ringkjøbing Landbobank AS, a bank based in Denmark, in connection with the refinancing of a facility granted by Unicredit to Agro Cocora S.R.L. and with respect to the financing of Black Sea Farmland Aps;

(ii) Beiersdorf Romania in connection with the eight-year lease agreement with CBRE;

(iii) Hornbach on the sale of undeveloped land to various FMCG companies.

Iveco Defence Vehicles secures EUR 700 million contract with support from bpv GRIGORESCU STEFANICA

bpv Grigorescu Stefanica advised Iveco Defence Vehicles (IDV), part of the CNH Industrial group of companies, during the public procurement procedure of the Romanian Ministry of National Defence for the acquisition of more than 2.900 high mobility trucks for a total contract value over EUR 700 Million. The procedure was finalized with the awarding of the framework agreement to IDV in December 2019, the first batch of 942 vehicles to be delivered over four years, starting 2020.

During the past 12 months, the procedure was challenged several times by IDV’s closest competitor, but the Romanian courts dismissed all claims.

IDV was advised by a joint team of public procurement and litigation experts led by Anca Albulescu, Partner and Head of the Public Procurement Practice, and Daniel Stefanica, Partner and Head of the Dispute Resolution Practice of bpv Grigorescu Stefanica, assisted by Raluca Marcu, Managing Associate, and Serban Dumitrescu, Senior Associate.

RE: INFRA – Infrastructure, Utilities & Environment magazine, no. 5 | Winter Edition 2020 – Infrastructure beyond

*A material coordinated by Anca Albulescu, Partner

In our previous INFRA brochure, we asked ourselves what makes us better than robots. Our answer was: human interconnectivity.

The topic is vast and brings new challenges as days go by. Talking about human interconnectivity, Romania is most likely to be one of the first EU countries to implement the 5G technology. This is the fifth generation of mobile internet connectivity, which promises to grant a much faster upload and download speeds, much broader coverage and more stable connections. 5G technology is mainly about more efficient use of the radio spectrum and allowing more devices to access the same mobile internet at the same time. Just imagine a swarm of drones cooperating to carry out a search and rescue mission, which can fire warning fires and monitor traffic, all communicating wirelessly with one another and the base through 5G networks.

Moreover, we face a new concept: Infrastructure as a Service. Intriguing that only now infrastructure has started to be conceived as a service. It may be a service model that delivers computer infrastructure on an outsourced basis in the form of hardware, networking, and storage services to support business operations. Finally, we understand that it’s not only about the hardware, but also, again, about interconnectivity.

You can get a glimpse of all the above, but also read about hard facts of our day-to-day reality, such as de land book registration of construction erected without building permit and amendments of public procurement contracts… just turn the page and have a good reading!

The magazine can be downloaded in PDF format from this link.