The prime-minister Marcel Ciolacu met on Wednesday at the government headquarters the general manager of the Greek energy company Public Power Corporation (PPC) and Alessio Menegazzo, manager for Sustainability and Institutional Affairs of the subsidiaries in Romania of the Italian group Enel. PPC and Enel are expected to finalise this month the transaction, announced for the first time on the local market by Profit.ro through which the operations in Romania of the Italians have been taken over by the Greeks.The meeting at Victoria Palace was also attended, besides Stassis and Menegazzo by the founder and CEO of the Romanian group specialized in services for the energy industry Adrem, Corneliu Bodea who is also the president of the professional body Centrul Roman al Energiei. As Profit.ro said, the ministry of energy has recently decided through the Energy Holding Management Company (SAPE) where he is the only shareholder and owns minority stakes in Romanian energy suppliers and distributors whose controlling stakes are being sold by Enel to PPC, that the Italians’ transaction with the Greeks can go ahead without Enel SpA first being obliged to make a sale offer to the Romanian state for the majority stakes about to be sold to the largest Greek energy company. Thus, the details of the conclusion of the acquisition process by the Greek group PPC of the Romanian business of the Italian company Enel, announced for the first time on the local market by Profit.ro, have been finalized. The Italians' entire portfolio in Romania will come under Greek control for a price of €1.26 billion. PPC plans to finance the acquisition through a combination of debt and equity, of which €800 million will come from already secured financing available in the form of a €485 million five-year loan from Greek banks and a €315 million bridge loan from international banks.
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
Prosecutors with Romania's General Prosecutor's Office have formally changed the legal status of former presidential candidate Călin Georgescu from suspect to defendant, judicial sources told Agerpres on Friday, June 27. The decision comes after Georgescu quoted Corneliu Zelea Codreanu, the leader of...
