Romania Feed

Romania’s national gas transmission company Transgaz (TGN.RO) on Wednesday evening notified the Bucharest Stock Exchange of its board of directors having approved, subject to voting by a General Meeting of Shareholders, an increase in share capital by incorporating the reserves made from the net profit in the previous financial years in amount of RON1.77 billion.

Olimpia Parking, a Romanian-Swiss owned company, completed an investment in a 1,500-space parking lot near Otopeni Airport this September.

Nuclear power producer Nuclearelectrica and Nova Power & Gas launch RoPower Nuclear, the project company for the development of small modular reactors (SMRs) in Romania, on the site of the former coal-fired power plant in Doicesti, Dambovita County, Nuclearelectrica said in a stock market report on Wednesday.

Harri Kiiski said he was resigning from the position of Chief Executive Officer (CEO) of Azomures, the largest fertilizer producer in Romania and the biggest natural gas consumer, after almost five years of activity, citing personal reasons.

Courier services company Cargus is launching its own network of lockers, targeting investments of EUR40 million in the next two and a half years.

Rompetrol Well Services (PTR.RO), the oil services division of Rompetrol Group, announced in a stock market the payment of dividends from profit reserves of previous years and the distribution of 2021 profit through Depozitarul Central (the Central Depository) and the payment agent BRD – Groupe Société Générale.

Dent Estet Group, part of the MedLife Medical System, is getting ready to open a new dental clinic in Arad, chief executive officer Cristian Taban said at the ZF Health&Pharma Summit ’22.

Bitdefender, one of Romania's most successful IT companies, which has become a strong global player in the cybersecurity solutions market, has announced a spectacular partnership with Scuderia Ferrari in Formula 1, which will see the company's logo displayed on the Ferrari drivers' helmets as well as on the F1-75 single-seater driven by Charles Leclerc and Carlos Sainz.

Germany’s do-it-yourself (DIY) retailer Hornbach is expanding its Romanian store network by opening its ninth unit, in Constanta (south-eastern Romania).

Real estate developers acquired land plots worth a total EUR720 million in capital city Bucharest over the last two and a half years (between 2020 and the first half of 2022), almost double the level recorded between 2017 and 2019, as per data from real estate consulting firm Cushman & Wakefield Echinox.

Depanero, the largest service and repair firm for electronics and appliances in Romania, part of eMAG group, has leased over 4,000 square meters in the Sema Parc business park developed by River Development.

Law firm Filip & Company has assisted Evergent Investments (EVER.RO, former SIF Moldova), a company that distinguishes itself through private equity investments, in acquiring a significant stake in Romanian software producer MWARE Solutions, a company specialized in Big Data, unstructured data, artificial intelligence and digitalisation solutions.

The European Bank for Reconstruction and Development (EBRD) on Wednesday (Sept 28) revised upwards its forecast on Romania’s economic growth to 5.4% in 2022 from a previous projection of 2.5%, which translates into an increase of 2.9 percentage points.

Financial analysts part of the CFA Romania association expect the Romanian leu will depreciate to an average of 5.04 units to the euro in the next 12 months, while the annual inflation is seen averaging 10.05% during the same period, a monthly poll by CFA Romania showed Wednesday (Sept 28).

Dental clinic network Dr. Leahu posted operating revenues worth RON59.3 million in the first half of this year, up 32.8% from 1H/2021.

French group Alten, specialized in consulting and tech services, has sealed an agreement to acquire IT company Qualitance, set up 15 years ago by Radu Constantinescu and Ioan Iacob.

Wine maker Purcari Wineries has signed an agreement to purchase the majority stake, of 76%, in Bulgaria’s Angel’s Estate winery.

Lantmännen Unibake Romania, a major player on Romania’s bakery market, has started building the new plant of Pantelimon where it will manufacture premium bread specialties.

HeadHunting IT, an IT specialist selection and recruitment firm set up 10 years ago, registered EUR6 million turnover in 2021, up over 33% from the previous year amid rising demand for specialists domestically and abroad, stated Razvan Rada, the company’s general manager.

Romania is a strategic market for Spanish-owned Glovo, as more than 10% of the global virtual stores operating under the Glovo Express brand in the group's network are located locally, says Daniel Alonso, vice president of Glovo's quick commerce division. In fact, the Romanian office is a regional hub.