The European financial services industry announced a 3% year-on-year fall in M&A deals in 2023, with 641 deals across the region, compared to 661 deals in 2022, according to the latest EY financial services M&A analysis. The total disclosed deal value also fell; from €50.0bn in 2022 to €34.7bn in 2023, representing the lowest annual value recorded since 2013. Iulia Bratu, Partner, Head of Lead Advisory, EY Romania: “M&A activity in the Romanian Financial Services sector saw a strong year in 2023, recording 14 transactions, with disclosed-value deals accounting for 10.2% of the total market, at USD 490m. This represented a doubling of the transaction number and 210% increase in deal values and was a particularly positive performance from an historical perspective, supported by landmark transactions in the banking segment such as the sales of Alpha Bank and First Bank’s Romanian operations (USD 319m and USD 138m, respectively). Financial Services M&A within the local market is likely to continue its positive dynamics in 2024, with another milestone transaction such as Banca Transilvania’s acquisition of Hungarian lender OTP’s Romanian operations expected to be announced in the first part of the year.” Sector-specific M&A activity across Europe’s financial markets • The number of European insurance deals rose from 223 in 2022 to 240 in 2023, but the total publicly disclosed deal value halved year-on-year, falling from €18.8bn in 2022 to €9.4bn in 2023. • The number of deals in the European wealth and asset management industry in 2023 was on par with the 206 in 2022. However, again, the total publicly disclosed deal value decreased year-on-year; from €6.6bn in 2022 to €4.9bn in 2023. • In the European banking sector, there were 195 deals in 2023, down from 232 in 2022, with the total publicly disclosed deal value also decreasing year-on-year from €24.6bn to €20.4bn. The number of non-European firms acquiring European targets was down from 96 in 2022 to 81 in 2023, and the total disclosed deal value fell from €18.5bn in 2022 to €17.1bn year-on-year. European firms acquiring targets from other markets fell from 62 in 2022 to 47 in 2023, with total disclosed deal value decreasing from €7.0bn to €2.9bn year-on-year.
The shares of four other companies listed on the Bucharest Stock Exchange (BVB) will be included in the MSCI Frontier, MSCI Romania, MSCI Frontier IMI and MSCI Romania IMI. Romania will thus have 30 listed companies part of the MSCI indices as of June 1, 2024. The shares of telecom group Digi Communications (DIGI)...
DP World announced on May 15 the opening of three new sites in Romania, following total investments of over EUR 130 million. The company said the projects aim to provide “a significant boost to the country’s growing status as a key hub of European trade.” Thus, Constanta, the largest container port on the Black Sea, […]
Measuring the confidence of Romanian managers and entrepreneurs in the local economy for over 4 years, the results of the 10th edition of the CONFIDEX study highlight the optimism, resilience, and adaptability of the Romanian business environment. According to the CONFIDEX study from the first semester of this year, the proportion of managers who declare […]
Alternative investment fund BT Property said on May 15 that it acquired Funshop Park Turda, Cluj county, from the Polish group Scallier. The transaction marks the fund's entry into the retail market, where it aims to expand. Funshop Park Turda retail park has over 9,000 sqm of leasable area and BREEAM-certified buildings, according to international standards. BT Asset […]
Attractive Romania/România Atractivă was launched this week with the aim of offering local and foreign tourists a new tool to explore the country. The multimedia platform includes 12 thematic routes in 35 counties, listing 275 landmarks to discover. The program, with a value of over RON 36.3 million, is part of the National Recovery and Resilience […]
It’s a packed agenda this week, with film festivals, art and jewelry fairs, events for foodies, the start of the light and music show at Bucharest’s Unirii fountains, and an anniversary but slimmed-down edition of the Night of Museums. The public in Iași can attend the events of the Romanian Creative Week, while theater fans […]
