Romania Feed

Bistrita-based car battery manufacturer Rombat, controlled by the South African group Metair, posted about RON504.5 million (EUR102.3 million) revenue in 2022, up 3% from the RON488.6 million (EUR99.3 million) of 2021, according to ZF calculations based on Finance Ministry data.

Automotive plastic parts and subassembly manufacturer Oechsler Romania, the local subsidiary of Germany’s Oechsler group, ended 2022 with a turnover of RON149.9 million (EUR30.4 million), down nearly 1% from RON151.8 million (EUR30.8 million) in 2021, as per finance ministry data.

OMV Petrom (SNP.RO), the largest fuel producer in Romania and the company to which eight million Romanian employees have an exposure of RON4.2 billion through the Pillar II private pension scheme, has invested RON800 million in government securities and treasury certificates to diversify its portfolio.

Romania is shortly launching its first auction for a contract-for-difference (CfD) support scheme for renewable energy. Onshore wind power projects and solar photovoltaic (PV) projects with a total capacity of 2,000 MW will be supported through a CfD scheme for 15 years, the European Bank for Reconstruction and Development (EBRD) said in a statement.

Law firm RTPR has assisted Romcim, held by Ireland's CRH Group, in relation to the acquisition from businessman Michael Dietrich of the company Bauelemente Reinvest and its fully owned subsidiary, Bauelemente, the leading manufacturer of prefabricated reinforced and prestressed concrete in Romania.

Romania's Finance Ministry raised RON410 million from banks on Monday (August 7), selling government paper maturing in February 2038, at an annual average yield of 6.9%.

Romania's central bank has decided at its board meeting on Monday (August 7, 2023) to keep its benchmark interest rate on hold at 7% a year.

Law firm Clifford Chance Badea assisted Enel Green Power Romania in implementing and completing the acquisition of a 63 MW photovoltaic park built in Calugareni, Giurgiu County, from Greece’s Mytilineos Group.

The number of foreign-owned companies newly established in Romania increased by 0.5% in the first half of 2023 to 3.493 units compared to the same period in 2022, as per data from the National Trade Register Office.

Midia Marine Terminal (MMT), a member company of the KMG International Group, said in a stock market report on Monday (August 8) that it started the overhaul works at the marine terminal located 8.6 kilometers offshore in the Black Sea, which ensures the supply of crude oil to Petromidia refinery – the largest and most complex refinery of its kind in Romania.

The Romanian private equity market has kept a good pace in the first half of 2023, seeing several notable transactions such as Innova Capital’s takeover of NETOPIA Group or Value4Capital’s investment in Clarfon, according to Radu Dumitrescu, Financial Advisory Partner-in-Charge, Deloitte Romania.

One United Properties (ONE.RO), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, said it had 5,692 residential units and a gross leasable area (GLA) of 34,500 square meters of office space under development on December 31, 2022.

Stockday, the B2B e-commerce platform held by Coca-Cola HBC and Heineken Romania, had a turnover of RON530 million in 2022, up 67% versus 2021, as per finance ministry data.

IT group Bittnet (BNET.RO), an integrator of IT&C solutions and a provider of training services in the IT sector, has informed investors in a stock market report regarding the signing of two significant contracts by Data Consulting (a company part of Bittnet Group) for the supply and installation of IT infrastructure equipment (switches and routers).

Agricultural holding ROCA Agri RDF, which owns the companies RDF Agricultura, RDF SA, Adidana Agricultura, Dachim and Supliment, aims to become a one-stop-shop solution for farmers and to bring innovation in the Romanian agricultural sector, through a digitalized approach, with enhanced productivity.

Helleniq Renewables, a subsidiary of Helleniq Energy Holdings, has signed a binding agreement with MYTILINEOS for the construction and acquisition of 4 photovoltaic (PV) parks in Southern Romania, with an aggregate capacity of 211 MW.

Romania's energy ministry and E-Distribuţie Dobrogea signed a non-refundable financing contract through the Modernization Fund, in the total amount of RON47.71 million (VAT included).

Deloitte Romania is promoting Alexandru Stancu, Ana Serban, Florian Sima and Raluca Burciu to the positions of directors within the Audit and Assurance Practice, effective September 1, 2023.

Nestor Nestor Diculescu Kingston Petersen (NNDKP) has assisted a syndicate of banks in providing EUR550 million in financing to Swiss-based agri-business group Ameropa, which owns some of the largest local agribusiness companies – Azomures, Romania’s largest fertilizer producer, Ameropa Grains SA, a major grain trader, and Chimpex, a leader in port operations.

Swiss-based agri-business group Ameropa, which owns Azomures, Romania’s largest fertilizer producer, has signed the contract for a syndicated loan worth EUR550 million which will be used for the company's current business.