Romania Feed

Romanian hydropower producer Hidroelectrica has signed a deal with Germany energy group STEAG to acquire the Crucea wind farm in Constanta county, southeast Romania.

Romania's finance ministry on Wednesday raised 984.5 million lei (EUR202 million), versus its RON700 million target, selling bonds maturing in October 2023 at an average yield of 2.54%, central bank data showed.

Aurachain is the new technology partner for the Bucharest Stock Exchange (BVB) and the Central Securities Depository. Two innovative solutions developed using the low-code Aurachain platform will be implemented to accelerate and optimize the shareholder voting process at exchange listed companies using blockchain technology, and to facilitate access to the capital market by digitizing investor enrollment.   BVB […]

On 23 December 2020, STEAG GmbH (“STEAG”) and Societatea de Producere a Energiei Electrice în Hidrocentrale Hidroelectrica S.A. (“Hidroelectrica”) signed an agreement concerning the sale of STEAG’s shares in Romanian subsidiaries Crucea Wind Farm S.A. (“Crucea Wind Farm”) and STEAG Energie Romania S.R.L. (“STEAG Energie Romania”) to Hidroelectrica, following a highly competitive process which involved […]

Desiring to support early education in Romania, SkyTower becomes a partner for the national program “Read me 100 stories!” implemented by the OvidiuRo Association.   Through the “Read me 100 stories!” program, OvidiuRo aims that by 2025 all kindergartens in Romania will become Libraries kindergartens, true reading islands for children, with the purpose of improving […]

The #Localnicii platform, developed by Kané Group, is about transforming a restaurant into a platform designed to encourage the purchase of local products from entrepreneurs who have emerged in recent years and who, this year, have lost their channels of interaction with their customers.   Together with over 90 local producers in the hospitality industry, […]

The European Fund for Southeast Europe (EFSE) has lent EUR2 million to Vitas IFN to enable it to extend its financing capacity for micro-enterprises and small- and medium-sized enterprises (SMEs) which have difficulty in contracting loans in the context of an unfavorable economic conditions generated by the sanitary crisis.

Romania's Competition Council said Wednesday it was analyzing the deal whereby Romanian Business Consult (RBC), the largest integrator of IT solutions for the food and retail industry, plans to acquire Ropeco Bucuresti, a company specialized in the sale of IT solutions and equipment.

Businessman Omer Susli, the owner of home décor stores Homelux, has bought four buildings located in Barlad (two buildings), Tulcea and Drobeta Turnu Severin, from American-held investment fund Portico Investments Romania, in December 2020.

French-held retailer Auchan has announced the implementation of the Auchan Drive service whereby customers can pick up the orders placed and paid online via the application or the online store, from the parking lot of the nearest Auchan hypermarket.

Financial analysts, members of CFA Romania (Chartered Financial Analyst) association, expect the Romanian leu to depreciate to an average of RON4.9906 to the euro over the next 12 months, the country’s economy to shrink 4.4% and the unemployment rate to reach 6.5% at the end of 2020.

Seven of the modern grocery retail chains in Romania have opened new stores in 2020, despite the COVID-19 pandemic. In all, 421 new hypermarkets, supermarkets, modern convenience and discount stores were inaugurated, making 2020 the second best year for expansion after 2019.

Alexandrion Group, the largest spirits producer in Romania, estimates gross revenue of EUR100 million in the country in 2020.

The number of pretzel, pastry and doughnut shops in Romania has increased six times to 3,800 since 2009, ZF has calculated from the data of the country’s National Sanitary Veterinary and Food Safety Authority (ANSVSA).

Software services company Wipro Limited will take over the IT divisions of METRO group in Germany and METRO Systems Romania.

Liberty Galati announced Tuesday it completed an investment of EUR13.5 million in the modernization of a hot stove for one of the steelworks’ blast furnaces.

Vifrana, the leading organic wine producer in Romania by the cultivated area, wants to repay a loan of RON8.2 million contracted ten years ago from state-run lender CEC Bank, to invest in technology and to expand abroad on new business segments.

Hotel operators in Romania expect an annual average occupancy rate of 31% in 2021, compared with 24% in 2020, when the market saw an average decline in profit of 73% for January-October, per a survey by Cushman & Wakefield in partnership with the Romanian Hospitality Industry Federation (FIHR).

Real estate developer Impact Developer & Contractor (IMP.RO) announced Tuesday it has closed early its private placement of corporate bonds brokered by TradeVille.

Romania’s real estate investment market will end 2020 with a volume of approximately EUR900 million, up nearly 40% against 2019, which represents the equivalent of roughly 9% of the volume estimated for the six largest countries in Eastern Europe, almost double the share of 4.7% reported in 2019, per data from real estate consulting firm Colliers International.