Romania Feed

Agroland Business System, a firm developed by entrepreneur Horia Cardos, which owns a chain of supermarkets catering to farmers, on Thursday closed early a private placement whereby 8,565,782 shares had been subscribed, in the amount of RON38.5 million (EUR7.9 million).

MedLife (M.RO), the leader of the private medical services market in Romania, announced Thursday it has fully acquired the Veridia Medical Center in Bucharest, known as Basarab Medical Center.

Tei Group, which includes the Farmacia Tei network of pharmacies and Bebe Tei stores, leased a space of approximately 10,000 square meters in the Metav industrial park in northern Bucharest, to build a semi-automatic warehouse.

More than 60% of multinationals worldwide estimate a possible increase in their corporate tax burden as a result of the implementation of the reform announced by the Organization for Economic Co-operation and Development (OECD) at the beginning of 2020, based on two pillars: taxation of the digital economy (Pillar I) and minimum corporate taxation (Pillar II), respectively.

Finnish investment fund KJK Balkan Holding has exited the shareholding structure of construction material producer Teraplast Bistrita (TRP.RO) after selling its last 1.4% remaining stake on November 17 for RON9.8 million.

Romania plans to invest over EUR22 billion in its energy sector in the next ten years, according to the country's draft energy strategy for the period 2020-2030, launched for public debate.

Romania's government has approved a memorandum to include EUR1.3 billion state aid for the restructuring of energy holding CE Oltenia in the state's budget policies for the period 2021-2025.

While many hotels and other accommodation facilities used to be booked for winter holidays already at this time of the year, the pandemic took people’s joy of spending Christmas and New Year’s Even in large groups away. Many reservations have been cancelled and hotel owners are not sure how things will go as people prefer to spend their holidays at home.

Only one major deal has been closed in the construction sector so far in 2020, the takeover of the Steel division of TerraPlast group compared with four such moves in 2019. The construction sector, where deals have been fluctuating in the last few years, took a break this year.

Banks in Romania posted about 4.7 billion lei profit in the first nine months of 2020, their assets reached a new high, while the loan-to-deposit and NPL ratios went down compared with the year-ago period. Solvency reached 22.7%, Romania’s central bank preliminary data show.

Packaging manufacturer Promateris (PPL.RO), formerly known as Prodplast, ended the first nine months of 2020 with a net profit of RON3.9 million, up 70% on the year, and with sales revenue of RON81.7 million, up 51% on the year, per data from the company’s quarterly report.

Individual investors bought RON804.7 million worth of Fidelis government bonds for the general population during an eight-day period, from November 9 until November 18, 2020, brokers' data showed.

Scandinavian furniture and home décor retailer JYSK is continuing its expansion in Romania, by opening a new 1,200-square meter store within the Nova Shopping Park retail complex in Turda (Cluj County), reaching 92 units in Romania.

Lender ING Bank Romania on Wednesday said its total revenue grew 2% in January-September 2020, to RON1.57 billion, and its net profit dropped 26% on the year, to RON443 million.

Romania's national strategy and forecast commission has revised its 2020 GDP contraction estimate to 4.2% from a previous projection of 3.8% and sees the economy rebounding with 4.5% GDP growth in 2021, from 4.9% previously.

Romania's government is revising its budget deficit target to 9.1% for 2020 at an upcoming budget revision, finance minister Florin Citu said Wednesday.

Electronics retailer Altex opens a new store on November 19 in Deva, Hunedoara county, in a company-owned space, following an investment of EUR5 million.

Romanians bought RON72.5 million (EUR15 million) worth of dermo-cosmetics in pharmacies in the third quarter of 2020, down 0.5% compared with the same period last year but up 24% compared with the second quarter, Cegedim data showed Wednesday.

OMV Petrom (SNP.RO), the largest energy company in Southeastern Europe, has invested approximately EUR21 million at Petrobrazi refinery to raise bio-blending capacity and improve infrastructure for the transport, unloading and storage of bio-components within the refinery.

Dorna Lactate, the company that makes the LaDorna brand and is part of the French Lactalis group, ended 2019 with 223 million lei revenue, down 6% on 2018, and slipped into the red with an almost RON1.5 million loss compared with a RON9.5 million profit in 2018, Finance Ministry data show.