Romania Feed

ING Bank Romania has announced that Mihaela Ionita will join its team as Human Resources (HR) Manager and member of the bank’s Board of Directors, starting January 1, 2023.

Law firm Filip & Company has assisted Fondul Proprietatea in selling its entire stake, consisting of 1.777.067.726 ordinary shares, held in OMV Petrom (SNP.RO) through an accelerated private placement set off on Tuesday (Dec 13).

Law firm Tuca Zbarcea & Asociatii advised the banking syndicate consisting of Banca Comerciala Romana (BCR), as coordinator and lender, Raiffeisen Bank, BRD Groupe Société Générale, Banca Transilvania, ING Bank N.V. Amsterdam Sucursala Bucuresti and Erste Group Bank AG, as lenders, in making available an additional EUR50.7 million credit facility to MedLife Group.

Real estate developer Globe Trade Center (GTC) Romania has signed a long-term contract with Regus, part of IWG, which will occupy 1,200 square meters in the City Gate South Tower, starting June 2023.

Mazars, the international audit, tax and advisory firm, has released its new report "ESG: where are you on the journey?", which takes a closer look at the rise of environmental, social and governance (ESG) topics on business agendas.

Libra Internet Bank continues its financing through the stock exchange with a third bond issue, worth EUR4.262 million and the bonds will trade on the main section of the Bucharest Stock Exchange, under the ticker symbol LIBRA32E.

Romania's capital market in Romania grew by 8.6% in November 2022 through the lens of the BET index, which includes the 20 most liquid companies listed on the Bucharest Stock Exchange (BVB), and the BET-TR index, which also includes dividends.

Holiday spending remains at 2021 level this year, even though 37% of consumers are in a worse financial situation compared to last year and about three-quarters (73%) expect higher prices, according to Deloitte Holiday Retail Survey 2022.

Luxoft Romania, a wholly owned subsidiary of DXC Technology and one of Romania’s biggest software development and IT solutions company, has expanded its team in recent years and ends 2022 with 2,500 employees.

French-Belgian retailer Cora, present in Romania with an omnichannel business including 10 hypermarkets, the ecommerce platform www.cora.ro and 8 cora Urban proximity stores, is cementing its online operations by expanding delivery services nationwide.

BRD Pensii, which manages the Pillar II fund with the lowest net asset unit value since its launch in 2008, of RON23.49 vs RON10 in 2008, is contemplating several scenarios with regard with its exit from this segment, including sale to another manager or a possible activity transfer to BRD Asigurari de Viata, in line with ZF information.

Global Business Solutions (GBS), the largest shared services centre of cigarette producer BAT, and one of the six worldwide, is moving Romania offices in the second development phase of One Cotroceni Park project, where it will fill a 10,500- square meter area.

Courier services company Cargus, a major player on Romania’s market, plans to expand its activity in six European countries next year.

Electroarges (ELGS.RO), one of the largest home appliances manufacturers in Romania, completed a bond placement that ended with 2 million bonds with a par value of RON2.5 each subscribed. In all, it raised RON5 milion cash, the company said in a report to the Bucharest Stock Exchange.

The Justice District, the real estate project to be built on the Esplanada plot on Bulevardul Unirii in Bucharest, which should include 23 institutions, got its Detailed Urban Plan (PUD) approved, the Justice Ministry said.

Romania competition authorities greenlighted the deal whereby ROCA Agri RDF, the farming holding of ROCA Investments, entirely takes over Dachim and Supliment companies controlled by Vetimex Capital group.

Business angels investment platform Growceanu is investing EUR80,000 in MedTech startup MediNav, which uses AI to extract structured medical information, in a EUR250,000 round.

Automobile Dacia and Ford, Romania’s two carmakers, in the first 11 months of this year manufactured 473,535 passenger cars, up 24.6% from the same period of 2021, in line with data provided by the the association of automotive manufacturers in Romania (ACAROM).

One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the acquisition of three historical buildings in Bucharest with the purpose of restoring and transforming them into a new development of the company - One Downtown.

Car parts producer Optibelt Power Transmission of Tautii-Magheraus locality, Maramures county, the local subsidiary of Germany’s Arntz Optibelt, in the first half of this year completed a EUR4.2 million investment in a hall for new production lines and in the development of the semi-finished products line.