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A cross-border team from law firm Dentons assisted electricity producer Hidroelectrica during its EUR1.9 billion initial public offering, followed by the listing in the Bucharest Stock Exchange, which resulted in a EUR9.4 billion capitalization.
A team of lawyers of Schoenherr si Asociatii assisted Dutch-held AkzoNobel in the sale of its extruded polystyrene (XPS) operations in Romania to Austria’s Hirsch Porozell.
OMV Petrom’s (SNP.RO) total hydrocarbon production shrank by 5.3% from 120,100 barrel of oil equivalent per day to 113,700 in the second quarter of 2023 compared with the year ago period, following a decline in both oil and natural gas production.
Romanians are dissatisfied with their current salary amid inflation and have become more active in seeking new jobs. The number of applications has gone up by 23% against 2022. Retail companies have attracted the highest number of applications.
Romania’s trade gap in January-May 2023 shrank by 13.4% from the year-earlier period, to EUR11.05 billion, after exports rose by 7.5% and imports went up by 2.1%, in line with the country’s statistics board INS.
Total average income per household in Romania rose by 12.1% in the first quarter of 2023 vs the same period of last year, to RON6,979/month, namely RON2,797 per person, up 13%, in line with data from the country’s statistic board INS.
Spark Car Sharing, the company behind the biggest player on Romania’s car sharing market, in 2022 posted RON10.1 million turnover, up 55% from the previous year, in line with Finance Ministry data.
Aaylex One, an integrated business that includes poultry brand Cocorico in its portfolio, ended 2022 with RON 1.1 billion turnover, up 35% from 2021, in line with ZF calculations based on public data.
Viterra Romania, the former Glencore, ended 2022 with RON4.87 billion turnover, up 40% from 2021, in line with ZF calculations based on public data.
Local retailer La Cocos, controlled by entrepreneur Iulian Nica, in 2022 boosted its turnover by around 30%, twice as fast as inflation, with the company’s sales reaching RON713 million.
Telecommunications operator Digi Communications (DIGI.RO) has called shareholders for August 18, 2023, to discuss, among others, the distribution of a RON1 gross dividend per share, which, based on the current trading price, would give investors a 2.9% yield.
Banca Transilvania’s (TLV.RO) chief financial officer George-Razvan Calinescu made ten transactions during which he sold Banca Transilvania shares at prices between RON21 and RON21.56 each on July 5, Bucharest Stock Exchange data show.
A multijurisdictional team of Clifford Chance lawyers from the Bucharest, London and Frankfurt offices, coordinated by Madalina Rachieru-Postolache (partner in the global Capital Markets practice), has advised the underwriters in connection with Hidroelectrica's listing, the law firm said in a press release.
Law firm RTPR assisted Piletilevi Group in buying the majority stake in Departamentul Logistic Event SRL, owner of ticket sales website bilete.ro.
Romania’s statistics board INS upwardly reviewed the country’s economic growth for the first quarter of 2023 against the fourth quarter of 2022, to 0.2%, from 0.1% in June, but also against the first quarter of 2022, to 2.4%, from 2.3%.
Romania’s fintech startup Key Way Group, which has developed a trading platform for CFDs under CAPEX.com brand, has acquired WiredMarket.com broker of Greece, thus marking its first acquisition and arrival on the Greek market.
Stay Fit Gym, Romania’s second largest fitness center chain, is stepping up expansion and wants to reach 55 units by end-2025, almost double the initial plan, which will entail investments of around EUR25-30 million in 2023 and the next two years, explained Alexandru Lascar, the company’s CEO.
Furniture maker Iris Service Ciuc, controlled by entrepreneur Negru Petru, for 2022 reported turnover worth RON175.8 million (EUR35.7 million), up 22.3% from 2021.
Farmaceutica Remedia plans to invest in drug distribution in 2023, with space expansion and automation on the objectives list.
Cotroceni Park, the company via which the revenues of Bucharest’s AFI Cotroceni mall are reported, in 2022 posted turnover worth RON331 million, a new record high. Against 2021, the result is 58% higher. However, the company stayed in the red, with a RON31.4 million negative result.19080 items