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.
Romania’s BlueSpace Technology is preparing for the first public presentation of its VLAH (Hydramatic Autonomous Combat Vehicle) prototype, scheduled for the first half of December, according to a press release cited by Bursa.ro. The 4x4 armoured vehicle is the first...
The construction materials distribution company Sipex (BVB: SPX), traded at the Bucharest Stock Exchange, announced it will begin next year the construction of a dry mortars and thermal insulation materials factory in Ariceștii Rahtivani, Prahova County. The project will involve EUR 20 million of investment. The company said it has “all approvals for the submission […]
The German company Limoss plans to open an electronic components factory in Romania, through a greenfield investment, which would employ up to 500 employees, according to Profit.ro. The targeted...
The total electricity production in Romania contracted by 6% y/y to 37.2 TWh in January-September, according to data from the statistics office INS. The hydropower units’ output plunged by 23% y/y to 8.86 TWh, and the production of the wind farms contracted by nearly 10% to 4.19 TWh. The PV parks generated 38% y/y more […]
Romania closed its 2026 World Cup qualifying campaign with a 7–1 victory over San Marino on Tuesday night, November 18, finishing the year on a high in front of home supporters at the Ilie Oană Stadium in Ploiești. Despite the decisive win, the national team ended Group H in third place, behind winners Austria, who […]
A street in Bucharest’s District 3 has been closed to traffic after the state-owned gas network operator Transgaz warned that it had been built over natural gas pipelines in violation of safety standards. Brățării Street was allegedly built by the District 3 City Hall in the area without proper measures in place. Vehicular traffic over […]
