* Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a 9.9% stake. Alpha Services and Holdings S.A., 100% parent of Alpha Bank S.A. (“Alpha Bank”), and UniCredit have agreed the key economic terms for the merger of UniCredit Bank S.A. (“UniCredit Bank Romania”) with Alpha Bank Romania S.A (“Alpha Bank Romania”), as part of a broader strategic partnership. Under the terms of the merger, Alpha Bank is expected to retain 9.9% of the combined entity’s share capital and will remain involved in the new combined entity via governance mechanisms including board level representation. Transaction completion is expected in 2024, subject to confirmatory due diligence process, corporate approvals for the merger and all necessary regulatory approvals and consents, including on anti-trust. The transaction will create the third largest bank in the local market in terms of total assets by combining two of the top ten banks in Romania. It brings together two complementary franchises, with UniCredit Bank Romania and Alpha Bank Romania having solid footholds in the corporate and retail segments, creating a major diversified financial institution that will be better positioned to serve its customers and to create new opportunities for growth within the Romanian market. For the first time in Romania, two European banking groups are joining forces in a partnership approach to consolidate the market. This new approach aims to not only support the Romanian economy but also to prioritize the needs of the customers and those communities within which they operate.
Romania will set up and operate its first fish farms in the Black Sea this year, as announced by environment minister Mircea Fechet, with certain areas already assigned for future farms. Investments are long overdue, as discussions about fish farms in the Black Sea have been ongoing for decades in Romania, while similar investments have […]
Monica Tamaș has been appointed general manager of Unilever Romania and Moldova beginning January 2025. She will oversee the local strategy and investment initiatives "aimed at optimizing Unilever's performance within the Home Care, Beauty and Personal Care, and Nutrition sectors across Romania and Moldova." Tamaș joined Unilever Romania in 2013, following roles in leading FMCG […]
A recent scientific paper published in the Nature Communications journal revealed evidence of “hominin activity” dating back at least 1.95 million years in Romania. The result marks the oldest proof of human activity in Europe, predating that found in Georgia, set at 1.8 million years. The findings were built based on a thesis proposed in […]
Romania's Electromontaj signed a 10-year partnership with TenneT BV, the electricity transmission operator in the Netherlands. The collaboration, which includes the participation of three other international companies, will see the construction of 400 km of new high-voltage lines and the modernization of 600 km of existing lines, with a total project value of EUR 1.75 […]
APTIQ Global announces the affiliation of the Turkish firm CLK Consultancy under the APTIQ Tax brand, which means a strategic expansion into the Turkish market, while fostering growth and delivering exceptional value to their clients across Turkey, Germany, France, Switzerland, Austria, Ireland, Italy, Spain, Romania, Poland, the Czech Republic and Slovakia. As part of their […]
Prosecutors from Romania's National Anticorruption Directorate (DNA) carried out searches at the Sinaia City Hall and the residence of mayor Vlad Oprea on Wednesday morning, January 22, in connection with an investigation into multiple corruption charges, according to judicial sources quoted by the media. Sources told local news agency Agerpres...
