The Romanian mergers and acquisitions (M&A) market recorded 124 transactions in the first half (H1) of 2024, with a total estimated value of USD 2.3 billion, down 6% in volume compared to the 132 transactions, estimated at USD 3.7 billion, recorded in the similar period of 2023, according to an analysis by EY Romania sent on Friday.However, the specialists say, the value of the M&A market remained largely stable, if the acquisition of Enel Group's Romanian operations by the Greek company Public Power Corporation for USD 1.3 billion, the only mega-deal in the first half of 2023, is not taken into account.In addition, the transaction value was not disclosed for 79% of transactions announced in H1 2024, compared to the historical average of 65% observed since 2018.The most active sectors by deal volume were Real Estate, Hospitality & Construction (23 deals), Energy & Utilities (21 deals) and Consumer Products & Retail (20 deals), followed by Health Care and Technology, each recording 11 deals. In the first half of 2024, there were only two transactions with disclosed value exceeding USD 100 million, down from the five recorded in 2023.In terms of country of origin, the most active investors came from the US - historically the most active investor (10 deals), Austria (8 deals), Germany (7), France and Poland (4 deals each), followed by Italy and the Netherlands, both with 3 deals each.Compared with the second half of 2023, the volume of M&A transactions in Romania increased by 13.8% in the first six months of 2024, while the decrease in this period compared with the same period last year reflects the global trend.According to the analysis, strategic investors maintained their dominant position in the Romanian M&A market in the first half of 2024, accounting for 93% of transaction volume, although they announced the same number of deals as in the first half of 2023 (115).The three largest transactions in the first half were: the sale of OTP Bank's Romanian operations to Banca Transilvania, the country's largest bank, for USD 375 million; the acquisition of five industrial parks by CTP, Europe's largest publicly listed developer of industrial and logistics properties in Europe, from Globalworth Real Estate Investments' full logistics portfolio, for approximately USD 184 million; the sale of the 80 MW Mihai Viteazu wind farm by Spanish renewable energy company Iberdrola to Premier Energy for an estimated USD 94 million. The deal marked Iberdrola's withdrawal from the Romanian market.
The exhibition RomanIa – Identity representation of traditional dress in art, currently on view at the National Museum of Art of Romania (MNAR), gathers a variety of artistic representations of the traditional blouse ia, from painting and sculpture, to drawing, photography, installation, film, music, posters, fashion, books, albums, and more. It includes works by Henri […]
Over 136,000 non-EU citizens held residence permits for employment in Romania at the end of August this year, most of them coming from Nepal, Sri Lanka, Turkey, Moldova, and India, and two out of three immigrants live in Bucharest, Ilfov, Constanța, Timiș, and Cluj, according to a study conducted by the Economic and Social Council. […]
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
