Romania Feed

Retail sales in Romania (excluding sales of motor vehicles and motorcycles) grew by 12.4% in unadjusted data year-over-year in the first eight months of 2021 and by 11.2% when adjusted for seasonality and number of working days, data from the country’s statistics institute showed Wednesday.

Holde Agri Invest (HAI.RO), a Romanian company operating farmland, announced it acquired a farm of 230 ha of land, entirely operated in a rent regime, in Calarasi county, close to its Frumusani nucleus. The deal amounts to RON2 million.

Romania's food retail sector reached EUR19 billion in 2020, rising further despite the pandemic. The upward trend will continue, with the sector expected to grow on average 5% per year and reach EUR25 billion in 2025, in line with a report by research and analysis company Roland Berger.

The outsourcing industry is one of the winners of the coronavirus pandemic, considering it’s an industry whose activity is compatible with teleworking. Thus, companies in the industry continued to hire in 2020 and the 10 largest employers had over 17,200 employees last year, up over 17% from 2019, according to ZF calculations based on Confidas.ro data.

Romania’s e-commerce market ranks 50th globally, with a value of $3 billion in 2020, ahead of Bangladesh and below Singapore, in line with data provided by research platform ecommerceDB.com.

Cold cuts producer Meda Prod ’98, controlled by entrepreneur Luchi Georgescu, a business worth RON217 million last year, ended the first seven months of 2021 with 7% higher turnover, according to the company’s representative.

MedLife (M.RO), a local integrator of private medical services, said in a stock market report on Tuesday that Mihai Marcu, the company’s Chief Executive Officer and Chairman of the Board of Directors, on Sept 30 sold a package of 280,000 MedLife shares, at a price of RON19.3 per unit, within deals worth a total RON5.4 million.

Romanian Superbet group, the largest sports betting and gaming business in Romania, is strengthening its top management team, by recruiting Adrian Comaneci for the position of Group Commercial Finance Manager.

Local educational software producer Ascendia (ASC.RO on Tuesday said it partnered up with the Bucharest University for a project aimed at developing a next-generation system for data management and analysis, which will reach almost RON5 million, according to company representatives.

Romanian state-owned natural gas producer Romgaz (SNG.RO) announced Tuesday that it agreed with US giant ExxonMobil to extend the exclusivity period, from October 15, 2021, to November 15, 2021, in order to complete the negotiations of the transaction for the acquisition of Exxon's stake in Neptun Deep offshore block in the Black Sea.

A multidisciplinary team of the Financial Advisory Practice of Deloitte Romania and of law firm Reff & Asociatii, member of the Deloitte Legal global network, has provided assistance to chemical producer Chimcomplex Borzesti (CHOB.RO) in the process of contracting a loan of EUR90 million.

Lawyer Alexandra Radulescu has joined law firm Dentons Romania as Counsel within the Litigation and Dispute Resolution Practice.

Turkish-owned real estate developer Opus Land, which developed the Cosmopolis residential compound in Bucharest, registered a turnover of EUR29.5 million in the first nine months of 2021, compared to EUR30.6 million for the full-year 2020, per data from representatives of SVN Romania, real estate consultant and exclusive agent of the project.

The World Bank on Tuesday (October 5) revised upwards its forecast on Romania’s economic growth to 7.3% in 2021, from a previous projection of 6% in June 2021, followed by a 4.8% GDP growth in 2022 and a 3.9% GDP growth in 2023.

Alina Bulgariu is the new Financial Vice President of Ursus Breweries. She joined the executive team starting October 1, 2021.   Alina has more than 25 years of experience in the FMCG industry. She started her career with Coca-Cola HBC, where she held various positions in the Finance department. Then, in 2000, she moved to […]

Romania’s center-right government of Liberal Prime Minister Florin Citu has been toppled in a no-confidence vote on Tuesday (October 5), with 281 votes in favor of the motion.

Last month, Oltina IMPEX PROD COM SRL company obtained the SafeGuard certification, following the audit performed by Bureau Veritas specialists. Through the “Restart your business with Bureau Veritas” solution, it has been certified that the manufacturer complies with national and international best practices and recommendations on the preventive measures applicable against the new type of […]

Connections Consult, a company listed on the AeRo market of the Bucharest Stock Exchange, has acquired Brusch Services, a company specializing in IT consulting and software development services previously owned by Gustav Bruckner and Axel Schwartz.

A multi-disciplinary team made of experts from Deloitte Romania’s Financial Advisory practice and from Reff & Associates | Deloitte Legal provided assistance to Chimcomplex in obtaining the EUR 90 million funding for refinancing existing loans and for investment. The chemicals producer borrowed EUR 26.7 million from CEC Bank and EUR 30 million from Alpha Bank […]

Connections Consult SA,  leader on the digital transformation market in Romania, listed on the AeRO market of the Bucharest Stock Exchange (BVB) under the symbol CC, announces the acquisition of 100% of the shares of Brusch Services SRL, specialized in IT consulting and software development in nearshoring regime (provision of services to markets close to […]