Romania Feed

Five-star Radisson Blu in Cluj-Napoca, developed by Winners Park Invest and opened in June last year, had an average take-up of 65% in September and expects the same level for October.

Romanian state-run CEC Bank has signed a new agreement, of EUR105 million, with the European Investment Bank (EIB) to support small and medium-sized enterprises (SMEs) and mid-cap companies in order to boost their competitiveness and switch to a sustainable and green economy, within the Recovery and Resilience Facility (RRF RO) - Romania Member State Compartment.

Fondul Proprietatea (FP.RO) on Thursday notified the Bucharest Stock Exchange of having collected RON650 million, following completion of the sale of the sale of ENEL Romania. The fund had minority stakes in E-Distributie Muntenia, Enel Energie Muntenia, E-Distributie Dobrogea, E-Distributie Banat and ENEL Energie. The buyer was Greece’s PPC.

Romania's Finance Ministry raised RON1.09 billion from banks on Thursday (October 26), selling government paper in two auctions, at annual average yields of 6.65% and 7.18%.

The European Investment Fund (EIF) is granting Raiffeisen Bank Romania two guarantee schemes worth EUR400 million to fund the investments carried out by small and medium-sized enterprises (SMEs) on the Romanian market.

Czech Agrofert Group has bought the majority stake in Romanian company East Grain, through a share capital increase, which is the most significant foreign investment in the Romanian agribusiness sector over the last year.

CIS Gaz, a Romanian natural gas company, founded in 1990 by Sebastian Calugar in Mures county, is expanding further in Egypt, where it has signed a cooperation memorandum with Town Gas, a gas distribution company, on the basis of which they will jointly develop projects in the field of natural gas transportation.

OMV Petrom, Romania’s largest oil and gas company, on October 26, 2023, completed the process of delisting GDRs from the London Stock Exchange in the wake of low interest in their trading and additional costs related to presence on this bourse.

Financial analysts part of CFA Romania association say the state budget gap estimated for 2023 will reach 5.8% in GDP, the highest value registered in the CFA survey since the start of the year.

Freight forwarder IB Cargo, which delivers freight for clients in the automotive, FMCG, pharma, agriculture sectors and others, in 2022 generated RON405.5 million turnover, up 35% from 2021.

Furniture maker Artemob International, controlled by French company P3G Industries, for 2022 reported turnover worth RON134.3 million (EUR27.2 million), down 22.7% on the year, in line with ZF calculations based on Finance Ministry data.

Retailer Made by Society is readying to enter Poland with a store in the main mall of Warsaw. This will be the third foreign market for the fashion retailer, after Bulgaria and the UK.

The Sibiu City Hall has bought for EUR5.2 million the land and buildings of the city's Fabrica de Cultura (Culture Factory) held by the company Constructii S.A., which is currently in reorganization.

Electrica (EL.RO), a major player on Romania’s electricity distribution and supply market, in a stock market report on October 25 announced the signing of the first non-reimbursable financing contract under Investment Measure I1 - Supporting investments in new electricity production capacities from renewable wind and solar energy sources, from the National Recovery and Resilience Plan (PNRR).

LIFE Group, which owns dental clinic chain Life Dental Spa, will be investing EUR4 million in at least ten dental clinics, four units under the "Life Beauty” brand and a multifunctional clinic, in capital Bucharest and other cities across Romania.

The European Investment Fund (EIF) has signed agreements with five banks to support Romania’s small and medium-sized enterprises (SMEs).

Infinity Capital Investments (SIF5 – formerly known as SIF Oltenia), which has an ownership stake of 37% in Electromagnetica (ELMA.RO), a producer of electrical equipment and electricity, plans to buy the remaining shares from investors through an offer for which it is offering RON0.181 per share.

The turnover of the local pawn shop market increased by 23% compared to 2021 and was two times higher than in 2013, touching a record high, of over RON1.6 billion in 2022.

Julius Meinl Romania, one of the biggest players on the premium coffee market, posted RON75.9 million (EUR15.4 million) revenue in 2022, up 42.5% from the previous year’s RON53.2 million (EUR10.8 millions), according to ZF calculations based on information from the Finance Ministry website.

Interpork Plus, which sells meat and meat preparations and is part of the Carmistin group, owned by the Paraschiv family, posted RON460.5 million (EUR93.4 million) revenue in 2022, up 52.7% on the previous year’s RON301.6 million (EUR61.3 million), according to ZF calculations based on data from the Finance Ministry website.