General
June 16, 2016 15:58
Ana Hotels, the largest hospitality company in Romania considering its revenue (28.3 million EUR in 2015, and 2.9 million EUR profit), is announcing investments worth 20 million EUR in its properties in Bucharest.  The plan includes complete renovation of the rooms in Athenée Palace Hilton starting 2017, and also erecting a new hotel building with approx. 70 rooms, and a 900 sqm conference hall, both next to Hilton. ...more »
June 09, 2016 17:18
According to the government, the current technical-economical documentations for public investments, written in 2008, are inconsistent with the developing needs and are not "oriented towards the analysis of the opportunity and necessity of investment objectives", thus affecting the quality of the project and creating major difficulties in financing and implementation....more »
June 02, 2016 14:50
Private equity fund PAI partners, owner of R&R Ice Cream and Nestlé will form a new entity called “Froneri”. The two are some of the world's top ice cream companies and the joint venture will cover markets in Europe, the Middle East, Africa, South America and the Philippines. The deal is expected to close around the end of the year, subject to employee consultations and regulatory approval, and will employ 15 000 people.   ...more »
May 26, 2016 12:57
Intel, world’s largest chip producer, shuts down its software development center in Bucharest, active since 2010. The decision follows the restructuring plan of Brian Kraznich, the new CEO, that converts the global strategy from software to hardware activities.   Almost 200 IT employees will be set free in Romania, from a total of 12 000 fired worldwide, out of 107 000. The Romanian software engineers were developing and researching open source technologies and next-generation computing solutions.  Intel’s independent subsidiary in Galati, Wind River, with 160 employees, will not be affected by the restructuring plan. ...more »
May 19, 2016 15:37
The recently created Airbus Helicopters Industries, a division of Airbus Group, is going to need 350 new employees for the H215 helicopter line of assembly in Brasov.  Airbus Helicopters Industries develops a helicopter plant in Ghimbav, and is responsible with building this line of assembly, and also sales and export worldwide. Airbus has partenered with the aeronautics industry in Romania to implement this new project: "2015 turned out to be a year of growth, since the new company Airbus Helicopters Industries was created and opened the road to a stronger collaboration and strengthened our connections with the Aeronautics Industry in Romania", says Serge Durand, general manager Airbus Helicopter in Romania.  ...more »
May 04, 2016 11:21
Following the announced acquisition of SABMiller by the Belgians from AB InBev for an estimated 100 billion EUR, the new owners announced the intention to sell the assets and local beer brands from Central and Eastern Europe, including Romania. Ursus, Timisoreana, and Ciucas are the Romanian brands in SABMiller's portfolio that will be up for sale in order to win approval from the European Commission.  ...more »
April 15, 2016 15:58
“Noriel” group, the largest toys and games retailer in Romania was purchased by the Polish private equity fund Enterprise Investors, one of the biggest private equity funds in Central and Eastern Europe that gathers 8 funds with a total capital of over 2 billion EUR. Axxess Capital (minority shareholder) and brothers Cristian and George Constantinescu (founders and majority shareholders) closed the deal with Enterprise Investors, that also owns the supermarket chains “Profi”, for companies Noriel Impex, Toys and Games Industry, and Intertoy Zone. The sale purchase agreement was signed yesterday and the transaction will be closed subject to approval by the Competition Council and the fulfilment of other conditions precedent....more »
April 10, 2016 08:21
Invia, the largest online travel agency in the Czech Republic, and one of the most notorious online travel deals providers in Central and Eastern Europe owned by MCI Tech Ventures, was purchased by Rockaway Capital SE, member of a private and risk capital investment house in the Czech Republic, with offices in San Francisco, and Sao Paolo. Rockaway Capital SE was legally assisted by Wolf Theiss law firm, more exactly by its branches from Bucharest, Prague, Poland, Hungary and Slovakia. For the component in Romania of the transaction (Invia Travel SRL), Ileana Glodeanu, coordinating partner of Corporate practices and M&A in Bucharest, and Marius Ciocirlea, senior lawyer, coordinated the team of lawyers....more »
March 28, 2016 18:30
A growth of 3.65 million USD was registered in 2015 on the Mergers and Acquisitions market in Romania according to Ernst & Young. This, despite the reduced number of transactions, compared to the previous year. Florin Vasilica, the head o...more »
March 15, 2016 16:26
The green celebration of St. Patrick’s Day hits the streets of Bucharest on Sunday, March 20th, with a Parade organized by Ireland Romania Network.  His Excellency, Mr. Derek Feely, Ambassador of Ireland to Romania, and Mr. John Long, president of Ireland Romania Network will open the parade that starts on Kiseleff Blvd., at the Peasant’s Museum, at 3 PM, and will finish two hours later in front of the Romanian Athenaeum. ...more »
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