Romania Feed

Corsar Online, a company held by entrepreneur Tiberiu Pop, which has posted net losses in each of the past three years, with a peak of RON3.5 million in 2020, filed for insolvency on August 2, according to Bucharest Court of Law documents.

Victor Capitanu and Andrei Liviu Diaconescu, the two founders of real estate developer One United Properties (ONE.RO), one of the leading players on the Romanian real estate market, on Tuesday announced in a stock market report that they acquired over 800,000 shares of the company, for a total price of over RON1.5 million.

Dino Parc of Rasnov, the largest dinosaur themed park in south-eastern Europe, generated revenue worth RON5.4 million in the first half of 2021, close to the level in the first half of 2019, the park’s best year so far, when it reported RON5.5 million revenue.

Payment solutions provider Payten, part of Asseco South Eastern Europe Group (ASEE Group), is carrying out a new strategic investment in eCommerce, by acquiring the majority stake in local software solutions provider ContentSpeed.

Romania's unemployment rate stood at 3% at end-June 2021, lower by 0.06 percentage points than in May 2021 and the same as the rate recorded in June 2020, data from the country’s employment agency ANOFM showed Tuesday.

The mergers and acquisitions (M&A) market in Romania totaled EUR1.8 billion in the first half of 2021, for 83 transactions announced, a PwC Romania analysis for Romania’s M&A market showed Tuesday.

Sweden’s IKEA says the development of the store it is building near Timisoara will take 12 months, with variations depending on field work conditions.

Established companies on the construction market, such as Concelex, Bog’Art or PORR, but also newer companies in the field, are reshuffling their strategies and betting more on public sector projects.

New vehicle registrations in Romania grew 20.3% in July 2021 compared with July 2020, to 17,571 units, data from the Automotive Manufacturers and Importers Association (APIA) showed Tuesday.

Real estate consulting firm CBRE Romania has assisted boutique investment fund manager Adventum, run by a Hungarian team of managers but officially based in Malta, in acquiring Hermes Business Campus office complex in northern Bucharest, held by Belgian real estate developer Atenor.

Garanti BBVA Leasing, part of Garanti BBVA Romania Group, on Tuesday signed a loan agreement for EUR10 million with International Finance Corporation (IFC), a member of the World Bank Group, for the funding of small and medium sized enterprises (SMEs) affected by the coronavirus pandemic.

South-African investment fund NEPI Rockcastle, the leading investor and developer of retail properties in Central and Eastern Europe and the largest shopping mall owner in Romania, targets investments of EUR140 million until the end of 2021, for development and capital expenditure related to ongoing projects.

Chemical producer Chimcomplex Borzesti (CHOB.RO), which owns the Oltchim and Borzesti platforms, ended the first half of 2021 with a turnover of RON1.1 billion (EUR233 million), double year-over-year, and switched to a net profit of RON282 million (EUR57 million), versus loss of RON27 million in the first half of 2020, per its financial report released Tuesday.

Delivery platforms have in recent years permanently and definitively changed the way the domestic food retail works, and the plans of companies such as Foodpanda or Glovo do not stop here.

BRD Groupe Societe Generale, the third largest lender on the Romanian market by assets, on Tuesday reported a net profit of RON628.6 million for the first half of 2021, up 55% from the same period in 2020, per its half-year financial report.

Swedish-held fashion retailer H&M posted SEK 1.046 billion (EUR102 million) sales in Romania in the first half (December 1 – May 31) of this year, an increase of 19% on the year-ago period.

Alexandrion group has expanded to Greece with alcoholic beverage import and distribution operations, a country where it takes 54 brands in 18 categories. The Romanian business therefore sells its own products and those of its partners.

Allianz-Tiriac ended the first quarter of 2021 with gross written premiums from health insurance of RON41.1 million, 11.4% lower than in the year-ago period and remained the leader of the health insurance market, Romania’s Financial Supervisory Authority data show.

Vincon Vrancea, one of the largest winemakers in Romania, has finalized the rebranding process and became Beciul Domnesc, starting August 1, 2021.

Romania's finance ministry on Monday raised 442 million lei (EUR89.8 million), higher by RON42 million than planned, selling bonds maturing in October 2030 at an average yield of 3.5%, central bank data showed.