According to the data provided by the Romanian law firm, the fee income reached 23,572,074 euro in 2008 and revenues stood at 21,449,275 euros (VAT included).

Gabriel Zbarcea (photo), Managing Partner with Tuca Zbarcea & Asociatii, said: „We had a 45 per cent jump in billings as compared to 2007, which was largely fuelled by the rise in new client wins, plus growth in existing clients’ advisory work”.

The law firm also said the figures do not include the revenues from the secondary office in Cluj-Napoca which operates in association with a well-known local firm - Nistorescu, Somlea & Asociatii.

The firm derived most of its revenue from Mergers and Acquisitions, Corporate, Litigation and International Arbitration, as well as Real Estate work.

„Our growth target is being set at zero per cent for 2009 which is clearly going to be an uneven year. We do expect though our breadth of areas of practice to act as a hedge against the areas that are slower. We believe important parts of our firm’s practices will perform strongly in 2009, in particular Litigation, Concessions and Infrastructure, Employment, Energy and International Arbitration practice groups”, pointed out Florentin Tuca, Managing Partner with Tuca Zbarcea & Asociatii.

Compared to Musat&Asociatii, established by Gheorghe Musat, the law firm reported full-year turnover of 18.5 million euros and 10 million euro profit in 2008, up 30% from a year earlier.

The firm’s representatives also unveiled a plan to strengthen several practice groups such as Insolvency and Banking and Finance and thus will recruit a number of experienced professionals from the market.

Tuca Zbarcea & Asociatii now boasts 83 lawyers, including 16 partners and 42 support staff. The firm’s client portfolio consists of more than 400 clients.

Some of the most representative projects managed by Tuca Zbarcea & Asociatii in 2008 are:
Erste Bank/BCR, BRD – Group Societe General, Banca Transilvania: assistance in connection with a EUR 350,000,000 transaction for the sale of their participation in Asiban S.A., a top 10 Romanian insurance company. The transaction marked the most important project in the insurance sector in Romania.

Erste Bank / Banca Comercială Română (BCR): assistance in connection with the listing on the Bucharest Stock Exchange Market (BVB) in accordance with the regulations on cross-border listings. This was Erste Bank`s third listing on an EU regulated market, following the listing on the Vienna Stock Exchange and Prague Stock Exchange.

CEZ: assistance in a EUR 250,000,000 acquisition of Fantanele and Cogealac wind farms in the Dobrogea region. The two projects will be the largest onshore wind farm project in Europe, with a total capacity of 600 MW, approximately double the size of the next largest fully permitted onshore wind farm in Europe, and triple the size of the largest current operational wind farm in Europe.

Voestalpine AG: assisting Austria’s largest steel producer in the development of a massive greenfield project in South-Eastern Romania, following investments worth 5 bln–7bln euros. The company provided assistance on all M&A and real estate issues, as well as environmental, corporate, competition and State aid matters entailed by the project.

The law firm has also assisted Voestalpine in closing a Memorandum of Understanding (MoU) between the company and the Romanian Government, as well as in the acquisition of several plots of land in Dobrogea, worth approximately EUR 180,000,000.