The prime-minister Marcel Ciolacu met on Wednesday at the government headquarters the general manager of the Greek energy company Public Power Corporation (PPC) and Alessio Menegazzo, manager for Sustainability and Institutional Affairs of the subsidiaries in Romania of the Italian group Enel. PPC and Enel are expected to finalise this month the transaction, announced for the first time on the local market by Profit.ro through which the operations in Romania of the Italians have been taken over by the Greeks.The meeting at Victoria Palace was also attended, besides Stassis and Menegazzo by the founder and CEO of the Romanian group specialized in services for the energy industry Adrem, Corneliu Bodea who is also the president of the professional body Centrul Roman al Energiei. As Profit.ro said, the ministry of energy has recently decided through the Energy Holding Management Company (SAPE) where he is the only shareholder and owns minority stakes in Romanian energy suppliers and distributors whose controlling stakes are being sold by Enel to PPC, that the Italians’ transaction with the Greeks can go ahead without Enel SpA first being obliged to make a sale offer to the Romanian state for the majority stakes about to be sold to the largest Greek energy company. Thus, the details of the conclusion of the acquisition process by the Greek group PPC of the Romanian business of the Italian company Enel, announced for the first time on the local market by Profit.ro, have been finalized. The Italians' entire portfolio in Romania will come under Greek control for a price of €1.26 billion. PPC plans to finance the acquisition through a combination of debt and equity, of which €800 million will come from already secured financing available in the form of a €485 million five-year loan from Greek banks and a €315 million bridge loan from international banks.
According to a report from Romania’s National Institute of Statistics, during the period 2020-2022, the proportion of Romanian companies that introduced new or improved products or business processes into the market was 8.8%, a decrease of 1.9% compared to 2018-2020. Business innovation refers to the wide range of activities that enterprises...
SD Worx, a leading European HR and payroll solutions provider, said that it completed the acquisition of Romanian Software SRL, the market leader in Romania for payroll and Human Capital Management (HCM) solutions. Romania thus becomes the 18th European country in which SD Worx has its own proprietary payroll & HR software. SD Worx announced […]
The Holy Light will be brought from Jerusalem to Bucharest on the evening of Saturday, May 4, and then distributed to other areas of the country, according to a press release published by Basilica.ro. Moreover, a delegate of the Metropolis of Moldavia and Bucovina will take the Holy Light from Bucharest to Chisinau, in the […]
After six months of renovation work, the bookstore Șt. O. Iosif, the “heart” of Libris, reopened its doors in Brașov on April 26. The investment in the space redevelopment project, which also includes the rehabilitation of the building - a historical monument in which the bookstore has been operating since its foundation, amounts to EUR […]
Romanian athletes shined at the 2024 European Rowing Championships in Szeged, Hungary, gathering a total of eight medals: four gold, two silver, and two bronze. They thus managed to secure the second place in the competition’s medal count for Romania, the Olympic and Sports Committee announced. The gold medals were won...
Seventeen birds from species protected by law were found by police at the residence of a man in Domneşti, Ilfov county, in southern Romania, and were subsequently released into the wild. The police have opened a criminal case related to the matter. During checks, police officers from the Ilfov Animal Protection Office discovered that the […]
