Tei Group, a major player in the Romanian pharmaceutical retail and Paval Holding, the investment vehicle controlled by Dragosand Adrian Paval - founders of Dedeman DIY stores, announced the conclusion of a partnership under which Pav?l Holding takes over a 30% package of Tei Pharmacy and Bebe Tei. The value of the transaction was not disclosed. Local entrepreneur Roxana Maftei founded Tei Group. Clifford Chance Badea, the local office of global law firm Clifford Chance, advised Grupul Tei, while KPMG Legal advised Paval Holding. "Beyond its financial capacity, Paval Holding will contribute with its experience in the development of a network of physical stores, as well as its expertise in efficient financial management. Through this partnership, the Tei Group aims to move to the next stage of its evolution, benefiting as much as possible from the know-how, scalability, but also from the financial solidity that Pav?l Holding brings," Roxana Maftei said, Wall-street.ro reported. Tei Pharmacy and Bebe Tei are businesses with local capital that have registered a remarkable evolution in recent years. Founded in 1992, Tei Pharmacy specializes in pharmaceutical retail.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
