Romania Feed

Fashion brand Louis Vuitton, one of the most important names in the luxury industry, is preparing to go to the ground floor of the Athénée Palace Hilton Hotel on Calea Victoriei in Bucharest.

Paval Holding (Dedeman) is about to close a EUR350-390 million deal to acquire CA Immo office space portfolio.

New car registrations in Romania increased by 8.19% to a total 105,817 units in the first ten months of 2022 versus 97,870 units in the same period of 2021, data from the association of automotive manufacturers in Romania (ACAROM) and of Romania’s General Directorate for Driving Licenses and Car Registration (DRPCIV) showed on Wednesday (Nov 2).

Romania’s logistics and industrial market is close to touching a new record high in 2022 in terms of demand, which is reflected in the average vacancy rate that stood at 4.3% at the end of the first nine months of the year, one of the lowest levels of the last ten years, as per data from consulting firm Cushman & Wakefield Echinox.

Inflation and recent changes in the Tax Code prompt Romanian entrepreneurs to invest in the digitization and automation of processes in their companies in order to reduce expenses by up to 35%.

Ultragreens, a Romanian producer of microgreens and aromatic plants, set off its regional expansion by placing the first two Microgreens in the Kaufland Bulgaria network and preparing to open a Green Hub in the capital city of Sofia.

The Romanian mergers and acquisitions (M&A) market recorded 169 transactions in the first nine months of 2022, seeing an increase of 18% compared with the same period of 2021, according to an EY analysis.

Clifford Chance Badea, the local office of global law firm Clifford Chance, has advised Rezolv Energy, the portfolio business of global investment fund in sustainable infrastructure Actis, on the acquisition of the 1,044 MW solar plant in Romania’s Arad County from Monsson Group.

The Energy Deal Advisory team of KPMG in Romania assisted Monsson, the leading developer of renewable energy projects in Romania, with the sale of the largest solar project development in Europe to Rezolv Energy, a leading CEE energy transition platform backed by EUR500 million funding from Actis, a top global investor in sustainable infrastructure.

Courier services company Cargus has appointed Yannick Mooijman as the company's new Chief Executive Officer (CEO), starting November 1, 2022.

Raiffeisen Bank, a major player in Romania’s banking sector, is listing on Wednesday (Nov 2) its second issue of sustainable bonds worth RON325.5 million, on the Bucharest Stock Exchange.

Industrial production prices for the total (domestic market and non–domestic market) increased by 46.7% in September 2022 compared to September 2021, data from Romania's statistics board INS showed on Wednesday.

Monsson group, the biggest green energy project developer in Romania, has signed an agreement with Rezolv Energy, a company owned by British investment fund Actis, for the development of a 1,044 MW solar park in Arad.

Romanian entrepreneur Gigi Becali, owner of football team FCSB, the formerly Steaua, wants to develop an integrated agricultural business on the 850 hectares of land in Tulcea county he leased from the State Domains Agency (ADS).

Bucharest’s four-star Cismigiu hotel, one of the city’s monument buildings, controlled by Spain’s Hercesa, expects to generate EUR1.45-1.5 million turnover in 2022, according to Mirela Cojocaru, the hotel’s general manager.

Philips Orastie, part of Dutch giant Philips, currently has 60 jobs available at the home appliances plant of Hunedoara, where the company produces coffee machines and oral hygiene products.

International Lazar, a company specializing in freight transportation, controlled by entrepreneur Ion Lazar, aims to boost its turnover by 18-20% by yearend, according to the company’s officials.

Finnish tire producer Nokian Tyres, one of the world’s largest on this market, has announced it will invest EUR650 million in a production unit set to be built in Oradea.

Sanador Hospital, one of Romania’s biggest private healthcare providers, owned by Andronescu family, has invested EUR6 million in a completely digitalized operating room block, a first for Romania, including two operating rooms.

HiSky airline, founded by Iulian Scorpan from the Republic of Moldova, is expanding its range of routes operated from Cluj-Napoca airport with a new international destination, Israel.