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.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
