Bulgarian group Eurohold announced that “it is engaged in advanced discussions with European Bank for Reconstruction and Development (EBRD)” for the sale of a minority stake in its insurance arm Euroins Insurance Group (EIG). Both parties approved the project. The deal remains subject to an agreement on and execution of final transaction documents and satisfaction of contractual conditions to closing. EBRD will contribute EUR 30 mln through a capital increase, and Eurohold will also participate in the capital increase with a further equity capital injection of up to EUR 12 mln. Euroins Insurance Group will use the raised funds predominantly for the development and growth of the largest insurance entity within the group - Euroins Romania Asigurare Reasigurare, and additionally, to strengthen the holding’s market positions in Southeast Europe. As for the Romanian subsidiary of EIG, Ziarul Financiar outlines an ongoing EUR 24.3 mln capital increase from the parent group to be endorsed on September 15, on the top of two similar capital increases worth a combined EUR 25.5 mln operated recently. EIG also prepares a EUR 8.1 mln capital injection to be financed out of a subordinated loan. All these would result in a EUR 57.8 mln capital contribution of EIG to its Romanian subsidiary over the past year.
The multinational military exercise "Swift Response 24,” which will feature the largest airborne operations in Europe since World War II, has recently begun. The exercise will take place until May 24 in Romania, including in the Cincu range in Brașov County, according to Radio Brașov, as reported by Rador. According to the Ministry of National […]
The leader of Romania’s far-right party AUR, George Simion, posted on LinkedIn that he is recruiting people for "top-level representation," including positions such as senators. The recruitment announcement was posted two weeks ago from George Simion's verified official account on the platform, and over 100 people have applied so far. Simion is also looking for […]
I Love DOC, a spin-off of the International Documentary Film Festival fARAD, will screen ten Romanian documentaries made after 1989 and selected following a vote of the event's community of filmmakers, participants, and mentors. The films that will be screened are Radu Jude's The Dead Nation, Florin Iepan's Children of the Decree, Thomas Ciulei's Asta e (That's Life), […]
Imagine a school where, as a student, alongside all the activities and lessons that are part of the British Curriculum, you can design and build an electric car from scratch, test it on track, and embark on an adventure to the Arctic Circle to drive it on ice. It’s fascinating to see how through such […]
Dogman by Luc Besson is scheduled to open this year's Transilvania International Film Festival (TIFF), which takes place in Cluj-Napoca between June 14 and June 24. Dogman, which premiered in competition at the Venice Film Festival, pieces together, through flashbacks, the tragic fate of Doug, a young man who was thrown by his abusive father into a cage […]
The elective assembly of the new Board of Directors of the Italian Chamber of Commerce for Romania, which will remain in office for the next four years, took place on the 23rd of April at the headquarters of Unicredit Bank. The elections took place online, through the Eligo platform, and 63.41% of eligible voters participated. […]
