Romania Feed

French-held Carrefour group will take over rival Cora’s operations in Romania in the largest deal in local retail in the last few years, put at EUR70 million to EUR90 million, several sources told ZF. The two parties had not returned ZF’s calls for comment on the agreement and the motivation behind the sale and acquisition by the time the story was ready for posting.

Sustainable residential, office, and mixed-use real estate project developer One United Properties on Tuesday held the General Meeting of Shareholders, which approved distribution of the second tranche of dividends from the 2022 profits, the 2023 budget and reelected the current members of the Board of Directors, among others.

Nestlé Romania, one of the largest players on the food and beverage market, saw a 21% organic sales growth across its ten product divisions.

A&D Pharma Group, with a history of almost three decades, being established in 1994, is changing its name to Dr. Max Romania.

Agribusiness company Agroserv Mariuta S.A (MILK.RO)., which owns the Laptaria cu Caimac brand, on Tuesday notified the Bucharest Stock Exchange of changes in its management.

Poland’s Resource Partners, one of the leading regional managers of private equity funds, said on April 25 that Romania would be the main market for the investment company’s third fund, which aims at a size of EUR150 million.

The hydrocarbon production of Romgaz (SNG.RO), the second largest oil company in Romania declined by 5.4% from 8.45 million to 8.07 million barrel of oil equivalent in the first quarter of 2023 compared with the year-ago period, the company’s report to the Bucharest Stock Exchange published on Tuesday shows.

Financial investment company SIF Banat-Crisana (SIF1.RO) has announced that during the trading period of May 4-5, 2023 the shares listed under the ticker symbol SIF1 will be suspended from trading at the Bucharest Stock Exchange as part of the process of changing the company's name to Lion Capital.

Nuclear power producer Nuclearelectrica (SNN.RO) placed with Exim Bank a term deposit without extension in the amount of RON130.14 million, the company informed its shareholders and investors via a report to the Bucharest Stock Exchange on Tuesday, April 24.

Global real estate professional services firm JLL (NYSE: JLL) and iO Partners have announced on April 25 that JLL will transfer to iO Partners its existing Leasing, Capital Markets, Valuation Advisory, Consulting and Project Management delivery businesses to iO Partners in the Czech Republic, Hungary, Romania and Slovakia.

Seed producer and processor Germina Agribusiness (SEOM.RO), controlled by regional investment fund SIF Muntenia (SIF4.RO), reported a turnover of RON2.3 million in 2022, down over 90% from RON35.4 million in 2021, as per calculations by Ziarul Financiar (ZF) daily based on data from the company’s annual financial report.

Law firm Filip & Company assisted RCS & RDS S.A., part of the Digi group, in the signing of a senior loan facility agreement that consists of a term loan facility of EUR150 million, a revolving credit facility of up to EUR100 million and one or more incremental facilities not exceeding an aggregate of EUR250 million for up to five years.

Most employees in Central and Eastern Europe (CEE) say they would need a 20-30% pay rise to cope with inflation, but between 60-77% say they have not been told of any increase by employers, as per a regional survey by Undelucram, one of the leading employee community networks in CEE.

Amid economic instability, unforeseen social and geopolitical events, and a global shortage of experts across all major business areas, companies face an increasing need for efficient strategies that ensure operational sustainability, as per a study by WEBCON, the leading European-based provider of a complete Low-code Application Platform for mass delivering business solutions.

Euro area economic growth surprised on the upside, with stagnant GDP in Q4/2022 and likely modest growth in Q1/2023, quelling previous expectations of an imminent recession, as per the EY European Economic Outlook.

The world’s largest semiconductor companies will spend US $300 million in 2023 on artificial intelligence-based solutions dedicated to chip design, an investment that will increase by 20% annually over the next four years, according to the Deloitte TMT (Technology, Media and Telecommunications) Predictions 2023 report.

The uptrend of listings continued on the Romanian capital market in the first quarter of the year amid a volatile period for international capital markets. The seven financing rounds carried out through the Bucharest Stock Exchange (BVB) totaled EUR428 million, of which six bond issues with a combined value of EUR427 million and one equity issue of almost EUR1 million.

Andrei Sarbu, CEO and founder of real estate consulting firm SVN Romania, one of the largest real estate consulting firms in Romania and leader of the housing segment, with over 15 housing projects in its portfolio, has taken over control of the company, becoming its sole stakeholder by acquiring the stake held by Ionut Nicolescu, former chairman and co-founder of SVN Romania.

Suceava-based paving stone manufacturer Symmetrica, owned by Stanciu family, is building a new plant due to be located in Ovidiu locality of Constanta county, with Dobrogea being an area the company has not yet covered.

Telecommunications operator Digi (DIGI.RO) on Monday night notified the Bucharest Stock Exchange that its RCS&RDS subsidiary signed an agreement for several loan facilities worth EUR500M to refinance debt and use to investments and other purposes on April 21.