Romania Feed

Euroins Romania, one of the largest insurance companies on the local market, has implemented two successive capital increases worth a total RON126 million, per data provided by company representatives.

French real estate group Catinvest has completed a mixed-use building within the Electroputere Parc shopping center in the city of Craiova and opened the first Class A office building in Craiova; a second similar project is to be completed in 2021, following a total investment of EUR39 million.

The total value of transactions, including offers, with all types of financial instruments traded on the Bucharest Stock Exchange (BVB) neared the threshold of EUR3 billion, or the equivalent of RON14.3 billion, in January-November 2020, higher by 42.3% in national currency compared to the first 11 months of 2019.

Demand for consumer loans in Romania has increased in the fall after the summer rekindled appetite for such loans, following the significant decline in the spring due to the lockdown caused by the COVID-19 pandemic.

Romanian ice cream producer Ice Dyp in Timis County is entering the craft ice cream market after having bought Ati Cream plant in Harghita County from Romanian entrepreneurs. The officials of the company would not reveal the value of the deal.

Investment fund Black Sea Fund I is acquiring the majority stake in oral radiology and dentistry techniques clinics DigiRay.

Romania's antitrust body on Tuesday approved the deal whereby oil and gas company OMV Petrom (SNP.RO) seeks to outsource operations and services to the consortium Dietscon O&M S.R.L. (leader), Dietsmann S.R.L., Dietsmann Safety and Environment Services S.R.L. and Confind S.R.L. (Dietscon consortium) and to Bonatti association SpA, Bucharest branch (leader) and Bonatti RO PARMA S.R.L.

When it comes to extending the network of companies held under a specific structure in Western Europe, ready-made companies are a popular alternative to incorporating a company from scratch. In fact, the rule is to acquire a ready-made company from a specialized provider and the exception is to incorporate one. Ready-made companies, also named “shelf companies" or more accurately, “off-the-shelf companies" are companies incorporated by specialized providers with the purpose of being sold to investors who need a new company in a respective jurisdiction. The name describes them quite accurately – such companies are a simple set of documents and do not hold any assets, do not have any employees, they leave all of this to the decision of the buyer and, according to the local legislation of each jurisdiction.

Allianz-Tiriac, the second largest insurer on the Romanian market, reported gross underwritings totaling over RON1 billion in January-September 2020, down 2.5% on the year, due to the coronavirus impact on the automotive market and tourism, according to company representatives.

Corporate bonds issued by Agroserv Mariuta, the dairy processor of Laptaria cu caimac, started trading Tuesday on the Bucharest Stock Exchange's multilateral trading system under the ticker symbol MILK25E.

KMG International recently opened a new Rompetrol filling station in Georgia, in the Borjomi municipality, in line with the new concept of filling stations in Romania, Moldova and Bulgaria.

German discount fashion store chain Kik has grown to 54 stores in Romania after having opened 17 in several cities of the country during the pandemic.

French-held Orange group, one of the largest actors in the world’s communications industry, plans to make significant investments in Romania in the next few years, having allocated EUR268 million to buy the former Romtelecom from Germany’s Deutsche Telekom to expand fixed and mobile networks and become a force to be reckoned with on the fixed-mobile services market.

Romania's gross domestic product fell 6% on the year in real terms in the third quarter, a breakdown reading from the country's statistics board showed Tuesday.

Biscuit manufacturer Croco, one of the largest in this business in Romania, has completed a EUR6 million investment in boosting production capacity and diversifying its product range and hired 60 new people for a total of almost 500, owner Damian Mereu says.

Romanian prime minster Ludovic Orban said Monday he has decided to resign as head of government, ahead of negotiation for a new Cabinet after Sunday's parliamentary elections.

Banks in Romania granted new loans to households and companies totaling RON67.42 billion in the first ten months of 2020, accounting for nearly a quarter of total private lending stock at the end of October.

2Performant, a Romanian technology company specialized in e-commerce and digital marketing, will start trading its shares Wednesday, December 9, under the ticker symbol 2P on the alternative trading system AeRO of the Bucharest Stock Exchange.

Bonds issued by Agroserv Mariuta, the dairy processor Laptaria cu Caimac, will start trading on the Bucharest Stock Exchange Tuesday, December 8, under the ticker symbol MILK25E.

German discount chain Lidl is expanding its Romanian network, by opening two new stores in the town of Siret (Suceava County) and the town of Gheorgheni (Harghita County), respectively, on December 10.