Romania Feed

Real estate developer Park Partners, part of Park Properties Group, has sold over 60% of the apartments of the first building of the SunLake residential complex located on the shores of Lake Fundeni, still at the planning stage.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has increased to 7.97% a year on Friday (July 29), ending the July 25-29 week with a 6% increase compared to Monday’s level of 7.51%, as per central bank data.

Electromontaj, which specializes in constructions for energy projects, has completed the takeover of the majority 82,68% stake in Electrotehnica Echipamente Electrice, Romania’s oldest producer of electrical equipment, transformers and coils.

Infopress Group, one of the largest private players on Romania’s printing house market, controlled by Spanish private equity fund GED, has budgeted RON10 million investments for 2022.

German-held car parts supplier Kromberg & Schubert currently has 100 jobs available at its plant of Nadab, located around 40 km away from Arad county.

With RON4.6 billion net profit and RON26 billion sales, OMV Petrom, the biggest company listed on the Bucharest Stock Exchange, had a 1H/2022 more profitable that 2020 and 2021 put together amid unprecedented energy prices hikes.

Real estate developer Globe Trade Center (GTC) has sold its A-class Cascade Office Building in Bucharest to the Hungarian Crown Holding Kft., making a net profit of EUR1.6 million (+20%) on the transaction since its acquisition in 2017.

Property restitution fund Fondul Proprietatea (FP.RO) welcomed the approval on July 27, 2022 by the Romanian Government of a Memorandum supporting the planned stock market listing of state-owned company Salrom, the only salt producer in Romania.

tazz by eMAG delivery platform has announced the listing on its own website of products in the portfolio of Romanian startup Flip.ro.

The company Euro Insol was appointed judicial liquidator of Romelectro, the largest energy project contractor in Romania.

Orange Romania Group had a consolidated turnover of EUR766 million in the first half of 2022, up 44% from EUR532 million in the same period of 2021, the company said in its financial report.

Nestlé Romania, one of the largest companies on the local market of sweets, beverages and pet food, saw a 12.6% increase in sales in the first half of 2022.

CPI Property Group (CPIPG) will provide asset management services to IMMOFINANZ companies on the basis of a services agreement signed by the two parties.

CC Trust Group, a family business founded and held by Swiss entrepreneur Claudio Cisullo, bought 3,485,915 shares in real estate developer One United Properties (ONE.RO) on July 22 within the first stage of the share capital increase operation via cash contribution.

Law firm Wolf Theiss acted as legal advisor to AROBS Transilvania Software in relation to the acquisition of 100% of the shares in Nordlogic Software S.R.L. and, indirectly, of 100% of the shares in Silver Bullet Software S.R.L. and Nordlogic USA, Inc.

Romanian business managers expect a positive trend in the economic activity across large economic sectors for the July-September 2022 period, except for the manufacturing industry that is bound for stagnation, while prices in the construction and retail trade sectors will see accelerated growth, a survey by the country’s statistics board INS showed Thursday.

Romania’s three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei taken out before May 2019, has increased to 7.85% a year on Thursday (July 28) from 7.71% a year on Wednesday (July 27), as per central bank data.

AROBS Transilvania Software, the largest tech company listed on the Bucharest Stock Exchange, has announced it entirely took over Nordlogic, a local group of companies specializing in the development of personalized products and software platforms, with offices in Cluj-Napoca, Oradea and Seattle, US.

OMV Petrom (SNP.RO), the biggest company listed on the Bucharest Stock Exchange, for 2Q/2022 reported net profit worth RON2.89 billion, up 65.7% from the previous quarter and more than seven times higher than the 2Q/2021 figure.

Pentalog Romania, a French-owned provider of software development and consultancy services, present in Romania for over two decades, in 2021 saw net profit go up by over 16% in 2021, year-on-year, topping EUR3 million (over RON15 million) and thus reaching the 2019 level.