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.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
