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PROFI takes over Maya stores

Wednesday, January 15, 2020

The PROFI network continues its expansion with the latest acquisition of Pram Maya, a group of 18 stores in Prahova and Dambovita county. The transaction has already been approved by the Romanian Competition Council. “Take overs are an integral part of PROFI’s development strategy and we are happy that this transaction is the biggest of this kind in our history. Appreciated by the public, from the beginning of next year, we will bring the ...

PHOENIX Group acquires the Ecofarmacia pharmacy chain

Wednesday, January 15, 2020

PHOENIX Group continues to expand the Help Net network by purchasing the Ecofarmacia drugstores. The chain operates 32 pharmacies in Transylvania, which will take the number of Help Net pharmacies to 300 by the end of 2019. At the moment, the transaction is being reviewed by the Romanian Competition Council. The Ecofarmacia drugstores are all located in Transylvania, one of the most prosperous regions of Romania, enjoying a leading regional position, ...

BR ANALYSIS: Local startup ecosystem to remain in investment mode as it enters 2020

Wednesday, January 15, 2020

Some EUR 1 billion has been raised by startups in Central and Eastern Europe (CEE) in 2019, with the investment environment for entrepreneurs set to remain dynamic through to 2020. In Romania, funding activity will continue to grow next year, according to market players. Locally, the largest funding deals of more than EUR 1 million each were recorded by Elrond, TypingDNA, FintechOS and Happy Recruiter. Bucharest led in terms of both the total ...

Proinvest Pascani prepares EUR 30 mln bonds issue and IPO

Wednesday, January 15, 2020

Proinvest Pascani, a company specialized in steel processing, owned by Romanian entrepreneur Vasile Sandu, is preparing to issue bonds worth RON 141 million (EUR 30 mln) and list them on the Bucharest Stock Exchange to finance a EUR 100 mln investment program. Vasile Sandu ...

Number of suspended companies in Romania Jan.-Nov., 2019, decreases by about 23pct

Wednesday, January 15, 2020

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The number of companies that suspended their business in the first 11 months of 2019 decreased by 22.93pct from the same time of 2018, to 12,842, according to data released by the National Companies Registry Office (ONRC).In November 2019, 971 companies were suspended.Most companies that put their business on hold in the first 11 months of 2019 were from Bucharest, 1,261, still down 28.64pct from the same period of the previous year. The counties of ...

Polish CIECH is trying to keep alive Govora soda plant

Wednesday, January 15, 2020

CIECH Soda Romania, the Romanian subsidiary of Polich chemical group CIECH, has decided to take further measures to keep all its workers and managers at the Govora soda plant in Romania, hoping that the facility will soon resume production if steam supply is provided, the company said in a statement. "It is a serious commitment from us and we hope that all discussions on finding a steam source for our factory will materialize with real support. We call ...

Evgeny Nikolsky, the new JTI 's GM in Romania

Wednesday, January 15, 2020

Japan Tobacco International (JTI), one of the biggest tobacco producers in the world, has appointed Evgeny Nikolsky as the new General Manager of its local subsidiary - JTI Romania.  Nikolsky, who comes from Kazakhstan, replaces Mark Rock, who was sent to manage the group's business in Germany.  Evgeny Nikolsky joined the JTI group in 2001 and, in 2009, he became sales manager in Kazakhstan. In 2014, he moved to ...

Number of companies running on foreign capital drops 2.11pct in first 11 months of 2019

Wednesday, January 15, 2020

The number of newly established companies running on foreign capital dropped, in the first 11 months of 2019, by 2.11 per cent, compared to the similar period of the previous year, to 5,096 units, according to data centralized by the National Office of the Trade Register (ONRC).The 5,096 new companies had a registered capital totaling 19.492 million US dollars, down 58.2 per cent from January to November 2018.The largest number of companies running on ...

Bulgarian company Kolev & Kolev to enter Romanian market

Wednesday, January 15, 2020

Bulgarian footwear manufacturer Kolev & Kolev, specialised in child shoes, is preparing to enter the Romanian where it aims at capitalising the lack of a local strong brand despite the relatively large ...

Holde Agri Invest lures RON 10 M from BVB investors

Wednesday, January 15, 2020

Holde Agri Invest SA, a Romanian agricultural company operating farmland, has successfully closed a private placement offer for its shares, having raised 10 million lei from Bucharest Stock Exchange investors. The offer took place between December 16th and 23rd, 2019. The intermediary to the transaction was SSIF BRK Financial Group, while the private placement was carried out through the POFX trading system administered by the Bucharest Stock Exchange, intended for ...

Accenture acquires Symcom's cyber security division from Broadcom

Wednesday, January 15, 2020

Accenture has agreed to acquire Symantec’s Cyber Security Services business from Broadcom, Inc. Financial terms were not disclosed. The transaction is pending some approvals and is expected to be concluded in March this year. Accenture invested almost USD 1.2 billion worldwide during 2019 fiscal year within 33 acquisitions in order to gain abilities and critical capacities in strategic sectors.The new acquisition will make Accenture ...

Frames Barometer: Workforce shortage seen as top challenge to business environment in 2020

Wednesday, January 8, 2020

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The workforce crisis, the rise of inflation, the prospects for the national currency's depreciation and the expansion of the financial gridlock are seen as the major challenges to the business environment in 2020, found the 9th "Barometer on the state of the economy" conducted by consulting company Frames and released on Friday.Whereas in the previous opinion barometer, issued in July 2019, the inflation and the depreciation of the leu were the highest fears of ...

Insolvencies, down by 24.44pct in first 11 months

Wednesday, January 8, 2020

The number of companies and authorized individuals (PFAs) facing insolvency decreased by 24.44 pct in the first 11 months of 2019, compared to the similar period of the previous year, to 5,830 insolvencies, according to data posted on the website of the National Trade Register Office (ONRC).Most companies and PFAs facing insolvency were registered in Bucharest, respectively 1,059, on the decrease by 30.05 pct compared to the same period of 2018. The ranking ...

ONRC : Number of deregistered companies up 30pct in Jan-Nov. 2019

Wednesday, January 8, 2020

Number of deregistered companies increased by 30.01 percent in the first eleven months of 2019 compared to the similar period of 2018, reaching 95,019, according to the statistics of the National Trade Register Office (ONRC).The largest number of deregistrations was recorded in Bucharest - 11,544 companies (1.66 percent more against with January-November 2018) and in the following counties: Iasi - 4,780 (plus 66.26 percent), Cluj - 3,685 (plus 6.26 percent) and ...

ANALYSIS: M&A market had 110 transactions in Romania in 2019

Wednesday, January 8, 2020

The mergers and acquisitions (M&A) market has witnessed 110 transactions in Romania in 2019, the highest level in a decade. In 2018, the number of deals was 98 and in 2017, 106. According to Deloitte estimations, the total volume, including transactions whose values were not disclosed, was EUR 4–4.4 billion in 2019 (EUR 3.8-4.3 billion in 2018), while the disclosed transactions amounted to EUR 1.7 billion (EUR 1.9 billion in ...

Zentiva group announces merger with AI Sirona Bidco

Wednesday, January 8, 2020

Zentiva, one of the main local pharma producers announced that it was informed on Monday by the majority shareholder Zentiva Group about the merger between the company Zentiva group and the company AI Sirona Bidco, this being the single shareholder of the company Zentiva group.  ‘This merger produces effects starting with 31st December 2019. Following the merger, the company Zentiva Group A.S. stopped existing, the whole patrimony being ...

TypingDNA rised a USD 7 million Series A round led by Google’s AI-focused venture fund

Wednesday, January 8, 2020

Behavioral-biometrics company TypingDNA, a Romanian  start-up  has announced on January 4 that it raised a USD 7 million Series A round led by Gradient Ventures, Google’s AI-focused venture fund. Other participants include EU-based fund GapMinder, Techstars Ventures, among others, businesswire.com reported. TypingDNA, set up by Romanian Raul Popa and Cristian Tamas in Oradea four years ago, has developed proprietary artificial ...

EY analysis: 20% increase in the number of start-ups set up in Romania in 2019

Wednesday, January 8, 2020

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After years of constant growth, 2019 set a new milestone in the development of the Romanian Tech startups ecosystem. It is growing up and attracting investor’s interest, reads a EY survey.Funding of Romanian startups became more sustainable and diversified. The pipeline of the local and international ventures is no longer driven by a few small-sized companies in e-commerce and marketplaces, rather it shows a balanced mix of innovative ideas in FinTech, Biometrics, ...

Connections ends the year with a turnover of USD 7 million

Wednesday, January 8, 2020

Connections, a leader in the digital transformation market in Romania, estimates for the end of 2019 a turnover of approximately USD 7 million, up 25% from the previous year. “For us, 2019 was a construction year, we focused on investments. The key points were achieved: strengthening the intelligent automation division, the expansion plan on international markets (Middle East, Southeast Asia), strengthening partnerships with technology providers ...

Nova Tech Integrated Solutions becomes MetaMinds

Wednesday, January 8, 2020

Nova Tech Integrated Solutions, a team formed over 10 years of excelling in integrating IT Solutions, will become MetaMinds. With a varied portfolio, cutting-edge technology, international awards for innovation in IT architecture, and a team of experts formed over the past 10 years, the company’s goal is to expand organically and to evolve constantly, assuming a strategy of social responsibility and active involvement in changing our society through ...

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