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Vodafone Romania officially joins forces with UPC
Wednesday, August 7, 2019
Vodafone Romania and UPC have closed the acquisition process, following the European Commission’s approval in July of Vodafone Group’s acquisition of Liberty Global’s operations in Romania, Germany, Czech Republic and Hungary in a EUR 18.4 billion transaction.The finalisation of the transaction represents a new journey for both Vodafone Romania and UPC as, from now on, the two companies are not competitors anymore. The joint team has now the ...
Group Rondo Ganahl in the acquisition of Transilvania Pack & Print
Wednesday, August 7, 2019
Austrian group Rondo Ganahl has bought a 60% participation in the Romanian printing company Transilvania Pack & Print S.A. from Offsetdruckerei Schwarzach GmbH, part of VBG group. The transaction closed at the beginning of June 2019. Deloitte Romania and Reff & ...
PwC study: CEO turnover at record high
Wednesday, August 7, 2019
Almost 17.5 percent of the executive directors (CEOs) of the world’s largest 2,500 public companies left their offices last year, according to the 2018 CEO Success study, recently released by PwC and Strategy& cited by http://business-review.eu/. The turnover rate hit a 15-year high of the 19 years covered by the reports. Over two thirds of the replacements occurred because of succession plans, while 20 percent of the executives were forced ...
Over 526k women shareholders or associates with companies in Romania, at end June
Wednesday, July 31, 2019
The number of the women shareholders or associates with the companies in Romania at the end of June 2019 counted for 526,007, the ones having a 37.47 pct share in the figure of the total shareholders or associates, the National Trade Register Office (ONRC) informs.So, according to the ONRC data the men shareholders or associates parked at 877,657 (a 62.53 pct share) with the 964,747 acting businesses in Romania. In the above-mentioned period, the total number of ...
Infosys opens cyber security center in Bucharest
Wednesday, July 31, 2019
Indian group Infosys, one of the global leaders in consulting and digital services, opened a cyber security center in Bucharest as an extension of its local Digital Innovation Center. The Cyber Security Center will provide comprehensive 24/7 real-time cyber monitoring and protection services to support European and global companies in their digital transformation efforts. These services – which include monitoring, crisis management and remediation, potential threat ...
Medicover and Synevo’s revenues in Romania, over 40% increase in the first half of the year
Wednesday, July 31, 2019
Medicover, an international company providing healthcare and diagnostic services has released the interim report for the first half of the year. The company reported a 24.6% revenue increase compared with the same period of last year to EUR 402.6 million. Medicover is active in Romania through both Healthcare and Diagnostic Services. “The strong start to the new year continued also in the second quarter. Our strategy to grow private pay Fee-For-Service, both organically and ...
Vodafone Romania has new executive management team
Wednesday, July 31, 2019
Vodafone Romania has announced on Monday the new Executive Management Team for both Vodafone and UPC Romania following the recent approval of European Commission for the transaction between the two companies. The members of the Executive Management Team are reporting to Murielle Lorilloux, CEO of both ...
Vodafone Romania recorded service revenues of EUR 158.6 million in the second quarter, up 0.2 percent
Wednesday, July 31, 2019
Vodafone Romania announces the key performance indicators for the quarter ended June 30th, 2019, as reported today by Vodafone Group Plc. Starting 1st of April 2019 Vodafone Group, and so Vodafone Romania, is reporting under new international accounting standards IFRS15 and IFRS16. Under the new accounting standards, Total Revenue declined by -2.7% compared to the same period of last year. The Service Revenue is at EURO 158.6 million and continues to grow on an underlying basis. The ...
Groupe Renault Romania, OMV Petrom and Continental ranked as Romania's best employers
Wednesday, July 31, 2019
Groupe Renault Romania, OMV Petrom and Continental top the list of Romania's best employers in the first edition of the "100 Best Employers in the Economy" yearbook put out by Capital Media Production, and which ranks the best to work for companies according to several criteria: number of employees, net average wage, benefits offered to employees.Next on the list are Bosch Group and Orange; the top five companies have a combined number of 332,394 employees who currently pay taxes ...
Auchan Romania to take over Petrom filling station stores
Wednesday, July 31, 2019
The Competition Council has authorized the takeover by Auchan Romania SA of the food and non-food Petrom filling station stores, the competition authority informed in a release.A member of Auchan Holding SA, retailer Auchan Romania operates non-specialized stores that mainly sell food, beverages and tobacco. In Romania, Auchan currently operates through 33 hypermarkets and 22 MyAuchan convenience stores.The main activity of OMV Petrom Marketing SRL is "Retail of motor ...
Orange Romania posts declining turnover on Q2 2019
Wednesday, July 31, 2019
In the 2nd quarter of 2019 (April-June), Orange Romania has posted a turnover of EUR 268.5 million, down by 2.4% as against the same period last year, mainly due to the amending Mobile Termination Rates and due to the slight decline of the device sales. On June 30, 2019, Orange Romania offered mobile, fixed and TV service for 10,736,700 customers, up by 2 percent as against the second quarter of last year. The fixed services continued the positive trend in the previous quarters. ...
Aluminum joinery market can reach EUR 75 milllion this year
Wednesday, July 31, 2019
The local aluminum joinery market will grow by up to 10 percent by the end of the year, to an estimated value of EUR 75 million, reaching the maximum potential of the years after the 2008 crisis, according to Reynaers Aluminum Romania representatives. At the same time, by mid-year, the company’s turnover had exceeded the target set for this period, as Reynaers Romania has been running an extensive investment plan to strengthen its position in the industry. In 2018, Reynaers ...
Reynaers Romania’s turnover exceeded 2019 targets by mid-year
Wednesday, July 31, 2019
The ascendant trend of the construction market as well as the customer orientation towards premium solutions led Reynaers Romania to register a turnover growth over 18 percent last year compared to 2017, which was 8 percent above forecasts. For 2019, Reynaers Romania had estimated a 10 percent increase in turnover, but the business has already exceeded expectations for this time span within the first half of the year. The high growth rates are driven by an investment plan aimed at ...
Facilitec Romania, sold out to Momentum Capital
Wednesday, July 31, 2019
Facilitec operating on the facility & property management market, owned in Romania by the Spanish entrepreneurs Diego Stuyck, Tomás Manjón and David Tortosa, has been sold this month to Momentum Capital, a company controlled by the Romanian entrepreneur David Canta. At present, Facilitec has complex ongoing projects in property and facility management services for the luxury residential segment and ...
Number of foreign-owned newly established companies, up 0.05pct in Q1, share capital down 75.3pct
Wednesday, July 24, 2019
The number of newly established companies running on foreign capital decreased in the first half of 2019 by 0.05 pct, compared to the same period of the previous year, to 2,857 units, according to data centralized by the National Trade Register Office (ONRC).These new companies had a subscribed capital amounting to an aggregate of 8.64 million US dollars, down 75.3 pct from January-June 2018.According to the cited source, between 1991 and 2018, 221,334 ...
Abris invests in Global Technical Group
Wednesday, July 24, 2019
Abris Capital Partners, the Central & Eastern European private equity fund manager, has signed an agreement to acquire a majority stake in Global Technical Group, an end-to-end building management solution provider in Romania. Abris will partner with the two founders Fadi Rida and Mihai Stanescu to grow the operations of the Group and further expand in the region. The transaction is conditional upon securing clearance from the anti-monopoly ...
Eurolines sells its tourism services to German DER Touristik Group
Wednesday, July 24, 2019
Eurolines Group, controlled by Romanian entrepreneur Dragos Anastasiu, will sell its tourism services – tour-operator, retail, business travel and incoming – to DER Touristik Group, part of the German group Rewe. Eurolines’ tourism services are currently operated through three distinct companies, Touring Europabus, Danubius Travel and Nova Travel. The transaction, signed by the two groups in Romania and also approved by the ...
RE / MAX Romania extends its network with three more offices
Wednesday, July 24, 2019
RE/MAX Romania has expanded its network, adding three new offices – RE/MAX Partners in Cluj, RE/MAX Quality in Sibiu and RE/MAX Prestige in Targu Mures. Currently, the company’s portfolio totals 53 offices and over 400 members at the national level, a press release sent to ACTMedia informs. Alexandra Joldes, Broker/Owner at RE/MAX Partners, said that the company’s education system was one of the most ...
STUDY: Owners of family businesses want to maintain control, do not trust succession plans
Wednesday, July 24, 2019
Retaining ownership of the business is one of the key elements of family businesses long-term goals, yet only 41% of them feel confident in their succession plans, according to Deloitte’s latest edition of Global family business ...
Number of companies that suspended their activity in January-June 2019 down by 20.97 pct
Wednesday, July 24, 2019
The number of companies that suspended their activity in January-June 2019 went down by 20.97 per cent, compared with the same period last year, to 7,601, according to data released by the National Trade Register Office (ONRC).A number of 964 companies suspended their activity in June.Most companies that suspended their activity in January-June 2019 are from Bucharest, 739 respectively, by 36.4 per cent less compared with the same period last year, ...