Romania Feed

Romanian natural gas producer and supplier Romgaz (SNG.RO) on Wednesday (July 26) announced its shareholders in a stock market report that it opened two term deposits with Romania’s import-export bank Eximbank without auto-renewal option, with the interest rate negotiated on July 25, 2023.

An integrated team of PwC Romania and D&B David si Baias, the partner law firm of PwC in Romania, has provided advisory services and financial, legal and tax assistance to Romanian state-run energy holding Complexul Energetic Oltenia in the process of selecting the investors with which it will be developing partnerships in order to carry out eight projects of solar photovoltaic (PV) parks and a gas-fired power plant.

Companies' focus on environmental, social and governance (ESG) standards has accelerated over the last two years, with tenants appreciating the potential contribution on the environment of the implementation of sustainability measures in the field of office space design and in the strategies regarding real estate portfolios.

Apemin Tusnad, one of the largest natural mineral water bottlers in Romania, expects a turnover of RON85.7 million in 2023, up 7% from 2022.

Cybersecurity company SafeTech Innovations has informed the local capital market with regard to the sealing on July 25 of a partnership agreement with the Romanian National Cyber Security Directorate.

SIF Hoteluri, controlled by SIF Banat-Crisana, has sold the Eurohotel hotel of Baia Mare for EUR2.1 million.

Financial analysts part of CFA Romania association forecast an average inflation rate of 8.21% in the next 12 months, up from 7.73% rate forecast in May, amid the high budgetary gap and tax hike expectations.

Paver maker Elis Pavaje is carrying out investments to boost its production activity, with the budget earmarked for this year standing at RON25 million.

Polish group CCC, owning the footwear brand of the same name, the second largest such retailer in Romania, but also epantofi and Modivo stores, has brought a new brand on the local market, namely HalfPrice, a low-price fashion retailer, active on the outlet segment.

UAE’s Al Dahra is wooing businessman Ioan Popa for a potential acquisition of Transavia after China’s Smithfield withdrew from the process, according to several market sources.

Bunnyshell, the local startup that has developed an Environment as a service (Eaas) platform, is in the middle of a funding round totally worth EUR4 million, with EUR3.5 million coming from current investors, Early Game Ventures (lead investor), RocaX, Marius Istrate and Ana Cinca, and the rest set to be raised via a campaign on SeedBlink platform.

Rezolv Energy, a project company held by Actis, a leading global investor in sustainable infrastructure with EUR20 billion assets, has announced that it acquired the rights to build and operate a 229 MW solar plant in Silistra Municipality in north-eastern Bulgaria, less than 10 km off the Romanian border, which will reportedly serve the Romanian market as well.

Romania's retail sector attracted 21% of the total investment volume recorded in the first half of 2023, 7% higher than the level recorded in the same period of 2022, remaining around EUR39 million, as per data from CBRE, the global leader in the commercial services and real estate investment market.

Romania’s general consolidated budget posted a deficit of RON37 billion in January-June 2023, or 2.3% of gross domestic product (GDP), higher by almost RON14 billion than the level recorded in the same period of 2022, the finance ministry said on Tuesday (July 25).

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, fell to 6.44% a year on Tuesday (July 25) from 6.45% on Monday (July 24).

Deloitte Romania has assisted RetuRO, the company set up according to the current legislation with the purpose of managing the Deposit-Return System, considered Romania's most important circular economy project to date, in securing a green financing of RON426 million from ING Bank.

Agricola Group based in Bacau, one of the largest poultry processors and manufacturers of dry-cured salami and ready-meals in Romania, ended the first half of 2023 with a turnover of almost RON567.6 million (EUR115 million), up 13% from the year-earlier period.

Romanian dairy producer Artesana has promoted Sergiu Multescu to the position of Executive General Manager.

UniCredit Bank is introducing in its portfolio a lending solution for micro-enterprises in Romania with a turnover of maximum EUR1 million.

Greek group Public Power Corporation (PPC), which in 2023 took over Enel’s Romanian assets, has signed an agreement with Lukoil’s European subsidiaries to entirely acquire Land Power SRL, which owns an 84-MW wind park in Romania.