Real estate developer Hagag Development Europe, controlled by businessman Yitzhak Hagag, has acquired housing project Obor Est Residence, located in eastern Bucharest, on the platform of former “Izolatorul” plant.
Law firm Filip & Company has assisted Centrokinetic network, specializing in orthopedy and medical recovery, aided in the deal by investment fund Agista as shareholder, in acquiring an almost 70% staje in the share capital of the company that operates Socrates clinic of Timisoara.
Polish retailer Zabka, which has more than 10,000 stores back home, is officially entering the Romanian grocery retail market by opening its first store under the Froo brand. This is the brand the group will use in Romania.
Early Game Ventures on April 25 finalized the necessary documents for the official launch of its second investment fund, with a total value of EUR60 million, the firm said in a press release.
The Bucharest Stock Exchange, the operator of Romania’s capital market, in the first three months of 2024 posted RON2.96 million net profit at group level, 68% higher than in the same period of 2023, while the net margin rose from 14% to 17%.
Companies in the first three months of 2023 leased around 200,000 square meters of logistic and industrial spaces, with demand mainly coming from production firms, FMCG and logistic operators, in line with data provided by real estate consultancy Cushman & Wakefield Echinox.
Aquila Part Prod Com, an entrepreneurial company providing distribution and logistic services for the consumer goods market, ended the first quarter of 2024 with 11% higher revenues than in the year-earlier period, at RON624 million, while profit shrank by 26% to RON19.6 million.
Romanian company Axes Software, specialized in developing software solutions for the logistics sector for over 18 years, ended 2023 with a turnover of RON9.7 million (nearly EUR1.9 million), up 12% versus 2022, below its initial target for a nearly 20% increase, in line with finance ministry data.
American company PDQ, which provides management solutions for active software, has paid over EUR20 million to acquire the entire package of shares of CODA Intelligence, a Romanian startup specialized in cybersecurity solutions, from its founders and from the two funds which had invested in the project, namely Early Game Ventures and RocaX, several sources familiar with the deal told Ziarul Financiar (ZF) daily.
Oradea-based Criboser, the second most dynamic road carrier in Romania by revenue in 2022, expects business to grow this year after buying 20 more trucks to carry goods from Belgium, Germany and the Netherlands.
Carmo-Lact Prod, the company based in Bistrita-Nasaud, which makes the Monor dairy products, had a turnover of RON249 million in 2023, up 19% on the year, in line with calculations by Ziarul Financiar (ZF) daily based on finance ministry data.