Romania Feed

Wine maker Purcari Wineries has announced the finalization of the acquisition of a majority 76% stake in Bulgaria’s Angel’s Estate winery.

ROCA Industry holding, set up by ROCA Investments for the construction materials market, is readying investment projects of around EUR30 million, meant to retool and boost the efficiency of producers part of its portfolio, explained Ionut Bindea, Chairman of the Board of Directors and interim General Director of ROCA Industry.

Pharma group Bioeel, owned by businessman Albert Attila, founding member, and Jean Scheftsik de Szolnok, a French citizen, in the first half of this year generated turnover worth RON312 million (EUR63.2 million), up around 21% from the year-earlier period, in line with ZF calculations based on company data.

Logistics company Mainfreight Romania, part of the New Zeeland group of the same name, is carrying out a RON30 million investment to expand the warehousing spaces it owns in Ploiesti.

Entrepreneur Claudiu Necsulescu, owner of Jidvei, a major wine maker in Romania, has since 2008 invested around EUR6 million in a winery in Dobrogea and in 430 hectares of vineyard in the area.

Everience - part of the Helpline group, which provides IT support services Europewide and grew to 350 employees in Timisoara in nine years, has decided to expand to Bucharest.

Romania’s Energy Ministry on Monday (Oct 10) signed the first nine contracts funded through the Modernization Fund, in the amount of EUR424 million, and the funds will go to Transelectrica (TEL.RO), as operator of the national energy transmission system.

Evergent Investments (EVER.RO, former SIF Moldova) said in a stock market report on Monday that it set off a program to buy back maximum 8.4 million own shares between October 10 and December 20, 2022.

Inform Lykos Romania, the local subsidiary of the Greek digital transformation services provider of the same name, saw sales increase by over 21% in the first half of 2022 compared with the same period last year, while the sales of the entire group increased by over 37.7% to EUR47.8 million.

Real estate developer One United Properties (ONE.RO) said in a stock market report on Monday that it would pay dividends in the amount of RON36.1 million through Depozitarul Central (Central Depository) and lender Banca Transilvania, starting November 3, 2022.

The Bucharest National Airport Company (CNAB), which manages Bucharest’s two international airports, Henri Coanda - Otopeni) and Aurel Vlaicu- Baneasa, has announced an investment of EUR21 million to increase the luggage processing capacity by 40%.

The INVL Renewable Energy Fund I managed by INVL Asset Management has concluded an agreement on the acquisition of a solar photovoltaic (PV) park project in Romania with a capacity of 174 megawatts (MW).

Dr. Fischer Dental (DENT.RO), a dental laboratory owned by Dr. Antoaneta Fischer, has bought a dental lab in Germany, in a EUR70,000 investment plus taxes and legal fees of EUR10,000. The move is part of the company’s strategy to expand sales to Germany and other countries nearby.

Romanian software developer mindit.io said it plans to hire some 110 tech specialists until September 2023, including juniors.

International rating agency Fitch has affirmed the BBB- rating for Romania's long-term forex issuer Individual Default Rating and the negative outlook, thus keeping the country's Eurobonds just above the junk debt area.

Romanian carmaker Dacia will be unveiling at Paris Motor Show the first hybrid engine to power one of its models - specifically, the compact MPV model Jogger.

Romania's trade balance posted a deficit of EUR22 billion in January-August 2022, higher by EUR7.381 billion compared with the first eight months of 2021, data from the country's statistics board INS showed Monday.

Banks’s profitability will remain subdued over the next year, because of an unprecedented mix of factors including Russia’s invasion of Ukraine, supply chain disruptions, inflation rise, tightening monetary policy across the world and potential recession or stagflation in certain economies, but is expected to improve until 2026 and reach the current levels of return on assets, as per Deloitte Banking and Capital Markets Outlook for 2023.

Fast-food restaurant chain McDonald's Romania ended the first half of this year with EUR136.6 million revenue, almost 25% higher than the same period in 2021. By comparison, inflation in the first half was around 15%, a sign that there was real growth in McDonald's business, not just one driven by price increases.

Private equity firm MidEuropa Partners, owner of private healthcare network Regina Maria, and Swedish group Medicover, are discussing in their London and Stockholm headquarters the possibility of merging their Romanian operations under the same umbrella, ZF sources say.