The two businessmen accuse Romania of breaching the contract following the privatization of agriculture machinery maker IMUM Medgidia.
The consortium was selected following an auction held by Romanian privatization authority AVAS, Tuca Zbarcea&Asociatii said Monday in a news release.
Tuca Zbarcea&Asocitatii has a team of 90 lawyers in its Bucharest office.
Freshfields specializes in legal consultancy for business and it is active in Europe, the Middle East, Asia and the United States, with some 2,500 lawyers.