Romania Feed

The European Bank for Reconstruction and Development (EBRD) on Thursday (Nov 4) revised upwards its forecast on Romania’s economic growth to 7.2% in 2021 and 4.4% in 2022.

Concilium Consulting, consultancy company in business restructuring affiliated to Turnaround Management Association, announces the restructuring of all outstanding tax debts of Satrotec AG, international manufacturer of auto parts, having Swiss shareholding. The exemption has been obtained based on the Government Ordinance 6/2019 and aims tax debts amounting to RON two million.   “We managed to […]

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, grew to 2.40% a year on Thursday (November 4) after staying put at 2.36% a year over the last four days, per central bank data.

Wolf Theiss welcomes Bogdan Bibicu as its new partner. Bogdan Bibicu will strengthen the Corporate Investigations practice both in Bucharest and throughout the CEE/SEE region.   Bogdan brings significant experience in the areas of Corporate Investigations, Banking & Finance, Restructuring & Insolvency, Projects, TMT, Lifesciences & Pharmaceuticals. He will focus on further developing the local […]

Filip & Company assisted Banca Transilvania in finalising the acquisition from the Polosih group Getin Holding of the Idea Bank group in Romania, consisting of Idea :: Bank, Idea :: Leasing, Idea :: Broker de asigurări and Idea :: Investment. The acquisition documents were signed in June 2021, and in the meantime the regulatory approvals […]

In a busy autumn on investment arbitration, the Court of Justice of the European Union (“CJEU” or the “Court”) was invited to rule on a very interesting question – the possibility of a Member State to conclude an ad-hoc arbitration agreement that allows it to continue arbitration proceedings initiated under an invalid BIT arbitration clause. […]

Serial entrepreneur and business angel Grégoire Vigroux, along with former KPMG senior tech consultant Diego Roy de Lachaise and former Apple executive Zsolt Kadar, have launched bonapp.eco, a mobile application that aims to combat food waste, connecting consumers with retailers to sell food that is close to expiration date. The food is sold to consumers […]

Romanian property restitution fund Fondul Proprietatea (FP.RO) is summoning its shareholders on December 15 – mostly Pillar II (mandatory) private pension funds – to approve a share buyback program worth maximum RON2 billion and a special dividend of RON0.06 per share.

Writing essays is a fact of life for most college students, but the process of writing essays can also be make-or-break for many students’ college careers. Romania has the lowest percentage of people with college degrees in the European Union, and currently just over half a million students are enrolled in college in a country […]

Teilor Holding, the group of companies including luxury jewelry chain Teilor, Teilor Invest Exchange and Invest Intermed GF IFN, plans to carry out by yearend a private corporate bond placement on the AeRO market of the Bucharest Stock Exchange, with a value put at RON45 million.

BRD-Societe Generale ended the first nine months of 2021 with net banking income worth RON2.3 billion, up 1.2% from the same period of 2020, and RON920 million profit, up 25%.

Chocolate producer Kandia Dulce posted turnover worth almost RON140 million in 2020 and aims for an increase of around 16% in 2021.

Romania’s largest online retailer eMAG plans new logistics investment and it also targets regional centers that should reduce delivery times nationwide.

Wine maker Avincis, of Dragasani vineyard area, expects 20% higher turnover this year against 2020, even as this year has still been marked by pandemic-related uncertainty.

Grain and oilseeds trader Soufflet Agro Romania posted RON217.9 million (EUR45.2 million) revenue in 2020, 40% lower than the RON362 million (EUR76.4 million) revenue of 2019, Finance Ministry data show.

Logistics and international freight transport group Alexander in Arad is aiming for EUR200 million revenue in 2021.

Almost a month after the start of deliveries, Dacia’s Spring all-electric electric model has reached its first 1,000 customers in Romania, carmaker Dacia said in a press statement.

Slatina-based Delta Aluminiu, a Romanian producer of industrial profiles and aluminum systems, has contracted a loan of RON20 million from state-run lender CEC Bank to support its current activity.

Precast concrete product maker ASA CONS in Turda posted about EUR12 million revenue in the first half, an increase of 14% on the year-ago period, the company said.

Electrica (EL.RO), one of the main actors on the energy supply and distribution market in Romania, has signed a RON750 million loan agreement with Erste Group Bank and Raiffeisen Bank Romania, the company announced.