Nestor Nestor Diculescu Kingston Petersen (NNDKP) law firm reported a turnover worth over 12.5 million euros last year, compared with the 7 million euros derived in 2005.
A significant contribution to these figures was achieved as a result of the success fee collected for the sale of BCR. The transaction was practically completed in the last quarter of 2006, almost a year after the Romanian state and the Austrian group Erste, which purchased the largest Romanian bank, signed the papers.
"The results obtained are above the estimates we made at the beginning of the year. Apart from the success fee we got from BCR, the real estate segment, the acquisitions, mergers, as well as the banking sector also had a significant contribution to the results reported," said Ion Nestor, managing partner in an interview for ZF.
The success fee obtained by the state's advisors - bankers, lawyers, and auditors, from the BCR sale topped 20 million euros.
Nestor is one of the most powerful lawyers on the local business market. The firm he set up in 1990 has played a role in some of the most significant transactions sealed in Romania. In the sale of BCR, a transaction worth 3.75 billion euros, NNDKP represented the state's interests, while in the Petrom sale, a transaction worth over 1.5 billion euros, the law firm represented the buyer, OMV-Austria.
"For me, BCR has remained the most interesting project I have worked on up to this point. I directly coordinated this project, but one of my partners, Alina Radu, who manages the practice of banking law for NNDKP, was the one who actually saw it through. Petrom's privatisation was also an interesting project to observe, because I did not personally handle it," said Nestor.
The Petrom project was Manuela Nestor's responsibility, the second managing partner. Carmen Peli, another partner also played a key role in the transaction.
"This firm is not all about Ion Nestor. If it was so, it would fit in a studio."
In 2006, the NNDKP lawyers represented the Indian group Ranbaxy in the acquisition of the drug manufacturer Terapia Cluj, last year's biggest private transaction, worth 324 million dollars. The firm provided assistance for financing projects worth approximately 3.2 billion euros and counselled the investment fund RAEF when it sold the leasing, mortgage lending and consumer finance companies to the General Electric group for 140 million euros. They have also assisted one of the most powerful local real estate developers GTC, in several real estate projects and they provided legal assistance to the British investment fund North Asset Management in the acquisition of a shopping centre in Sibiu, a transaction that was worth 82 million euros.
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