Investments
April 22, 2016 16:10
ANA IMEP, electrical engines producer from Pitesti, and with 49 year history in the national and international markets, was purchased in proportion of 94,8 % by the Japanese From Nidec Corporation, a world class electrical engine producer, listed at the New York Stock Exchange. According to the Romanian company, the owners decided to sell in order to make room for future growth, giving that Nidec uses the highest production technologies, and is oriented towards developing new platforms for the auto, appliances, and industrial engines industries. Moreover, Nidec intends to invest substantially in improving the actual production capacity of the factory, and is planning to develop IMEP as an engineering and centralized services center. ...more »
April 19, 2016 15:48
PC Garage, one of the leading local IT&C online stores with a revenue of 165 million RON in 2015 will be part of eMAG, Romania's largest online retailer following the acquisition announced in April 2016. The transaction is pending an approval from the Competition Council. eMAG had a revenue of 350 million Eur last year. Its main competitors on the Romanian market are cel.ro, f64.ro, and evomag.ro. eMAG is owned by South-African investment fund Naspers and local businessman Iulian Stanciu. ...more »
April 05, 2016 12:10
The subsidiary of Daimler, Star Assembly factory in Sebes officially launched the production of the high-tech transmission gearboxes 9G-Tronic . Star Transmission was founded in 2001 as a joint-venture between Daimler and the Romanian mecha...more »
April 01, 2016 15:33
Potentially the largest online transaction to date was announced at the end of March 2016, Swiss group Ringier buying the majority stake in real estate portal Imobiliare.ro. The transaction value was not officially announced but is being estimated to exceed 15 million euro according to market sources. Ringier Romania bought the 87% stake in Realmedia Network from shareholders Broadhurst Investments Limited, Kurt Götz and the management of Imobiliare.ro. The current management team still holds a minority stake and will continue to operate the company....more »
March 23, 2016 12:20
Carpatica Asig SA, the insurance company that now makes object to several intervention measures on the basis of insurants’ resolution and redressing law, was acquired by International Insurance Consortium, an investments company from the Netherlands, with a focus on the insurance companies from Eastern and South-Eastern Europe. IIC was represented by Wolf Theiss in this transaction. The team of lawyers led by Ileana Glodeanu claims the transaction to have been a true challenge, considering the suspensive conditions, certain criminal law ramifications, the changes in the legislation in the past months and, finally, regulations on the way to be enacted. The finalizing of the transaction is conditioned by the approval of the Authority of Financial Surveillance (ASF)....more »
February 16, 2016 13:44
According to the latest government emergency ordinance draft, the Department for Foreign Investments and Public-Private Partnership will cease its activity within the General Secretariat of the Government (SGG). It will be incorporated by the Ministry of Economy, Commerce and Relations with the Business Sector. The Ministry will be reorganized by taking over its attributions, patrimony and personnel of the Department. Following Alexandru Nastase’s dismissal on 15th of January, several days ago, Prime Minister Dacian Ciolos appointed Manuel Costescu, executive director at JP Morgan London, as State Secretary for the Department....more »
February 01, 2016 15:55
Local law firm RTPR Allen & Overy advised the private equity fund Enterprise Investors in relation to the sale of Smartree Romania, an important player on the market providing outsourcing payroll and personnel administration process services. The RTPR Allen & Overy team included Costin Tărăcilă (Managing Partner), Laurențiu Tisescu (Associate) and Andrei Lupu (Junior Associate).  RTPR Allen & Overy assisted Enterprise Investors in relation to several transactions such as the exit from Siveco Romania, the acquisition of Macon and Simcor or the acquisition and subsequent sale of Artima....more »
January 28, 2016 10:07
French group Lactalis, which also controls local dairy producer LaDorna, submitted an offer for the acquisition of the romanian diart producer Albalact.Lactalis has agreed to acquire the Albalact shares representing in aggregate 70.29% of the fully-diluted issued share capital of Albalact . The main shareholder of Albalact is the Ciurtin family and minority shareholder is investment fund Reconstruction Capital II Limited listed on the London Stock Exchange, which has accumulated in the last two years about 25 percent of the shares on RASDAQ through acquisitions. ...more »
January 25, 2016 10:20
A company member of Inter IKEA Property Division, Vastint Romania was assisted by law firm Biris Goran in a 48-hectare land acquisition in the Gheorghe Ionescu-Sisesti road area of Sector 1, Bucharest.Vastint intends to develop the site into a mixed-use development, with a focus on residential. The IKEA group is one of the largest landowners in Romania through it's portfolio of forests. Currently, the Swedish group is preparing investments in three real estate projects in Bucharest, with the intention of opening new stores in major cities. Currently Romania has only one IKEA store located in the Northern part of Bucharest and plans the second store on Pallady Avenue in Bucharest on a land of 14 hectares acquired in 2015.  ...more »
January 22, 2016 12:38
The Ministry of Public Finance estimates that there will be two new sessions, in March and July 2016, which will enable companies to submit financing requests based on the state aid scheme for salary costs (regulated by G.D. 332/2014). The opening day of the sessions as well as the related budget will be announced on the website at least 30 days before their opening. The total budget allocated for this state aid scheme for 2016 is RON 450 million. Should this budget not be entirely used in the first session in March 2016, a new session will be opened in July 2016....more »
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