Romania Feed

Law firm Filip & Company assisted Fondul Proprietatea in the sale of its stake within Hidroelectrica IPO totally worth RON9.3 billion.

Real estate developer Grand Development, founded by Ionut Nicolescu, is set to invest EUR12 million in Montebello Transylvania Resort development, a 47-villa compound located near Brasov.

Store network Annabella, controlled by Mutu family, has taken over the Best Market chain from entrepreneur Ion Soloman, in one of the biggest deals in food retail and also the most important deal between two local players.

Mayr-Melnhof, a major player on Romania’s packaging market, which operates on the local market via MM Packaging firm, will complete a new warehouse in the coming period and expects turnover to rise by 7% in 2023.

Fondul Proprietatea, managed by US-based Franklin Templeton, has raised RON9.3 billion (EUR1.9 billion) by entirely selling on the bourse the 20% stake it held in Hidroelectrica, the biggest hydropower producer in the region, in Europe’s largest IPO in 2023.

Austria's Hirsch Porozell, which produces polystyrene in Romania, has acquired the extruded polystyrene (XPS) insulation material activities in Romania of Dutch global paints and coatings maker AkzoNobel.

Romanian-held construction company TerraGaz in Otopeni, Ilfov County, posted growth of 45% in revenue to RON181 million in 2022, but the figure is lower than the record high of RON263 million of 2020.

British-held packaging manufacturer DS Smith Paper Zarnesti posted RON634.9 million (EUR128.7 million) revenue in 2022, up 40.5% from the RON451.9 million (EUR91.8 million) of the previous year, according to ZF calculations based on data from the Finance Ministry website.

DS Private Equity (DSPE), a private equity firm based in Seoul (South Korea) has signed the term sheet agreement with Nuclearelectrica and Nova Power & Gas (part of the E-Infra Group), the shareholders of RoPower, which is the project company developing the Doicesti SMR Power Plant in Romania, with the intention to invest EUR75 million for the development of FEED 2 study.

Brillio, a US-based multinational company that has been present in Romania since 2020, is expanding its presence in Europe with the acquisition of CloudStratex, a London-headquartered advisory services company that helps clients build smarter, more agile, and efficient cloud infrastructure to accelerate digital transformation.

The 5,000 Romanian entrepreneurs active in the cross-border eMAG Marketplace program have exported over 5 million products to Hungary and 3.3 million to Bulgaria in the first half of 2023, according to eMAG representatives.

Romania's central bank has decided at its board meeting on Wednesday (July 5, 2023) to keep its benchmark interest rate on hold at 7% a year.

Real estate developer Comnord Development said on Wednesday (July 5) that it would invest EUR30 million in a luxury residential project in northern Bucharest.

Nearly half (46%) of consumers worldwide believe food prices will continue to rise, compared to 42% in the previous survey carried out in February, as per the PwC Global Consumer Insights Pulse Survey 2023 conducted in June 2023.

Arobs Transilvania Software, the largest IT group listed on the Bucharest Stock Exchange, has informed the capital market about the complete takeover of Arobs Pannonia Software Kft, headquartered in Budapest, Hungary, specialized in fleet management and custom software development.

Armchair and sofa manufacturer Italsofa Romania, the local subsidiary of Italian group Natuzzi, for 2022 reported turnover worth RON338.2 million (EUR68.6 million), up 14% from the previous year, in line with ZF calculations based on Finance Ministry data.

Versuni Romania, the former Philips Domestic Appliances Romania, aims to reach turnover of almost RON460 million from the import and distribution of home appliances.

QFort door and window maker Casa Noastra in 2022 registered RON707 million turnover, 39% higher than in 2021, with 2022 being in fact the best year ever for the company owned by Stefan Cherciu.

Quadrant Amroq Beverages, the bottler of PepsiCo drinks in Romania, ended 2022 with RON1.5 billion turnover, up 36% from 2021.

New car registrations in Romania increased by 19.03% on the year to a total 13,173 units in June 2023, data from the association of automotive manufacturers in Romania (ACAROM) showed on Tuesday (July 4). DRPCIV.