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.
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
Romanian airline AnimaWings is considering incorporating Buy Now, Pay Later options in its travel offers, similar to the ones already popular in the retail sector, Profit.ro reported. The new ticket financing strategy would be a first in the local aviation market. “It is not yet practiced...
Renowned Romanian author Mircea Cărtărescu will tour the United Kingdom from November 18 to 20 to mark the publication of the English edition of his novel Blinding: The Left Wing, released by Penguin Books. The volume, translated by Sean Cotter, is the first part of Cărtărescu’s acclaimed Blinding trilogy. The tour, organized by Penguin Books […]
Ahold Delhaize, the owner of the local supermarket chains Mega Image and Profi, has appointed Xavier Piesvaux as country manager for Romania beginning January 1, 2025. Piesvaux, who was brand president of Mega Image from 2006 to 2015, will return to the country, where he will oversee the expansion of the company’s local brands Mega […]
Timișoara, Bucharest, and Cluj-Napoca occupy the top three positions in the “Perfect City 2026” ranking conducted by the Bucureștiul Meu website. The study, which analyzed the quality of life in 17 Romanian municipalities, took into account seven criteria: infrastructure, the medical system, air quality, access to nature, cultural activities, relative salary, and the financial index. […]
