Romania Feed

Distribution and logistics company Aquila, with an annual turnover of EUR370 million, borrows EUR10 million from the European Bank for Reconstruction and Development (EBRD) for the development of its own brands, modernization of warehouses, digitalization and working capital.

Last month, the Gobalworth Foundation launched in partnership with the Renaşterea Foundations the Mobile Caravan for Cervical Cancer Diagnosis at Chitila Logistics Hub, one of the benchmark projects for Globalworth’s logistics and light industry sub-brand. Thus, between September 12 and December 10, approximately 1,200 women will have free access to Pap tests for detecting gynecological […]

The European Fund for Southeast Europe (EFSE) has provided a new loan worth the equivalent in lei of EUR10 million to BT Microfinantare (BT Mic), part of lender Banca Transilvania.

The transaction whereby Duraziv, the largest independent producer of building materials in Romania, sold the entire package of shares to world leader Saint-Gobain was completed on September 30, 2021, upon receiving all approvals from competent authorities.

Norofert Group, Romania’s leading Romanian producer of organic inputs, on Friday announced the appointment of Marcel Caruz to the position of Chief Operational Officer (COO) of the company.

Romania's finance ministry will be launching three new bond issues for the general population Monday, October 4, which can be subscribed until October 27.

Romania's foreign exchange reserves fell to EUR41.2 billion in September 2021, lower by EUR400 million than in August 2021, central bank data showed Wednesday.

Real estate developer One United Properties, and Le Manoir Group, active in the field of fine gastronomy, have bought boutique hotel Carpathian Lodge Magura in Buzau, for EUR2.35 million.

Stefan Vuza, president of chemical producer Chimcomplex Borzesti (CHOB.RO), which owns the Oltchim and Borzesti platforms, said he would borrow RON2.5 billion (over EUR500 million) on the international market in order to launch the biggest investment on the local chemical market of the last 30 years.

Romania's three-month ROBOR index, the interbank interest rate used as a reference to calculate variable interests for loans in lei, continued its upward trend and climbed to 1.79% a year on Friday (October 1), from 1.77% a year on Thursday (Sept 30).

CTP, the largest developer and manager of Class A logistics and industrial space in Romania, with a portfolio of approximately 1,850,000 square meters, has acquired an additional 153,000 sqm of logistics and industrial space, adding a new strategic location to its portfolio, in Brasov, and expanding its presence in Timisoara and southern Bucharest, being present in 13 cities and towns at present.

Croatian distribution group Orbico, controlled by Croatian investor Branko Roglic, has acquired sole control over Interbrands Marketing & Distribution, one of the largest distribution companies on the Romanian market.

Hellenic Telecommunications Organization SA (OTE) announced on Thursday that the sale of its 54% stake in Telekom Romania Communications SA (TKR) to Orange Romania has been successfully completed, and the final equity consideration reached EUR295.6 million.

Canned foods manufacturer Prefera Foods reported a loss of RON3.2 million for the first half of 2021, compared to a net profit of RON2.7 million in the same period in 2020, and a turnover of RON18.8 million, down 27% versus the first half of 2020.

Online furniture and home decor retailer Vivre Deco reported a loss of RON17 million in the first half of 2021, compared to a net profit of RON705,000 in the same period in 2021, but posted 19% higher revenue, of RON133 million, the company said its financial report Thursday.

Romanian state-owned natural gas producer Romgaz (SNG.RO) said in a stock market report Thursday that it initiated a non-binding process in order to obtain offers for financing in the amount of RON1.6 billion or the equivalent in euros, on the bank market, with a view to acquiring US giant ExxonMobil's 50% stake in the Neptun Deep gas exploration and drilling project in the Black Sea.

Connections Consult (CC.RO), a company founded in 2005 and specialized in providing software and IT services, has signed a contract worth RON5.8 million, as a subcontractor of a main bidder, with an end client which represents a public institution in Romania.

Romanian authorities issued 4,873 residential building permits in August 2021, 0.4% fewer than in July 2021 and 12.5% more than in August 2020, data from the country’s statistics board INS showed Thursday.

Money transfer fintech TransferGo, on Thursday said it has secured $50 million in a Series C funding round led by Elbrus Capital Fund III and Black River Ventures.

Romania attracted foreign direct investments (FDI) totaling EUR3 billion in 2020, after enterprises’ equity stood at EUR3.9 billion (equity worth EUR983 million plus reinvested earnings worth EUR3.016 billion), but the debt/claims ratio was negative, generating -EUR994 million debt transactions with FDI and non-resident fellow companies (debt less claims), central bank data showed Thursday.