Romania Feed

French technology company Lectra, with revenue of EUR236 million, said it reached an agreement to acquire Romanian company Gemeni CAD Systems, within a transaction that may reach EUR13-EUR20 million, depending on the fulfilment of certain growth targets.

Swedish-held Medicover, the third largest private medical service provider in Romania, targets investments of EUR4 million in imaging centers in four large Romanian cities - Iasi, Constanta, Craiova and capital city Bucharest, respectively.

Lender Banca Transilvania (TLV.RO) said in a stock market report Tuesday that it entered into an agreement with Raiffeisen Centrobank AG for the provision of the Issuer Market Maker (IMM) services on the spot regulated market administered by the Bucharest Stock Exchange.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, grew to 1.61% a year on Tuesday (Sept 7), after stagnating at the psychological threshold of 1.60% for 11 sessions.

The Romanian leu dropped to a new all-time low against the euro on Tuesday (September 7), as the central bank average reference rate stood at 4.9488 lei to the European currency.

Capital city Bucharest, the largest and most developed urban center in Romania, contributes 50% to the business of Cora store chain in Romania, namely, the hypermarket business considering that only in 2021 Cora launched, in Bucharest too, the first proximity stores.

Romanian poultry producer Avicola Slobozia (AVSL.RO), majority owned by Dumitru Stanoiu (81.8%), ended the first half of 2021 with a turnover of RON36.8 million, up 14% on the year, and a loss of RON5.8 million, 20-fold higher than RON290,000 in the first half of 2020, per data from its half-year financial report.

Lending broker Kiwi Finance expects to broker up to RON1.5 billion worth of loans until the end of 2021, along with a 30%-35% increase in customer numbers, compared with 2020, according to Anca Bidian, CEO of Kiwi Finance.

Romanian consumers took out more than RON2.87 billion new consumer loans in July 2021, the highest monthly volume in 14 years and 37.3% higher on the year-ago month.

Enel X Romania, part of Enel X, the advanced energy services division of Italy’s Enel Group, is building a solar power plant with a total installed capacity of nearly 1 MWp, for car parts manufacturer Compa Sibiu (CMP.RO).

BMW’s EUR1 billion investment in a plant in Debrecen, Hungary, will attract new investments in automotive component manufacturing in Romania, as well. The first two such investments went to plants in Arad and Oradea, which Global Vision built for two suppliers.

Andrei Frunza, former CEO of ride-sharing platform Free Now, has officially taken over as Chief Executive Officer (CEO) of job recruitment platform Bestjobs, starting September 1, 2021, the company said in a stock market report.

Romania's gross domestic product (GDP) grew 1.8% in real terms in the second quarter of 2021 compared with the first quarter of 2021, provisional (1) estimates from the country's statistics board INS showed Tuesday.

Reff & Associates | Deloitte Legal launches SecuRE, a proprietary digital tool that was created to help real estate owners and tenants manage regulatory compliance requirements, regardless of the kind of property they own or use and of the industry in which they activate. The web-based app facilitates the collection, review and archiving of permits, contracts, authorizations and any other regulatory document and allows users to archive and manage online the entire compliance process, to prioritize and to project manage the remediation process in case on non- compliance. SecuRE also integrates the legal knowledge of Reff & Associates | Deloitte Legal’s experts in the real estate regulatory compliance field, by indicating to users what kind of documents they need based on the information about the real estate asset they provide within the app.

SafeTech Innovations (SAFE.RO), a Romanian cybersecurity service provider, posted RON13.2 million operating revenue in the first half, an increase of 120% on the year-ago period, while the net profit rose 202% to RON1.3 million. Operating expenses on the other hand increased by 116% to RON11.5 million.

The Bucharest Stock Exchange has announced investors that the shares of Romanian engineering company Adiss will start trading on the AeRO market as ADISS on September 8.

Sphera Franchise Group (SFG.RO), the operator of the KFC, Pizza Hut and Taco Bell restaurants in Romania, which is also developing the KFC brand in Moldova and Italy, on Monday notified the Bucharest Stock Exchange shareholder Lunic Franchising and Consulting lowered its stake to 4.68% of the voting rights, following sale on September 2, 2021.

Romania's finance ministry on Monday raised a planned 300 million lei (EUR60 million), selling treasury bonds maturing in October 2034 at an average yield of 4.34%, central bank data showed.

Real estate developer Iulius Group, held by Romanian businessman Iulian Dascalu, is launching the Go Local program intended for small entrepreneurs in the regions where the Group is present with its projects.

Holde Agri Invest (HAI.RO), a Romanian company operating farmland, on Monday said its revenue skyrocketed 193% on the year to RON14.9 million in the first half of 2021, after carrying out investments of RON26.1 million, financed from own sources and borrowed capital, in upgrading existing farms and expanding the land operated.