June 30, 2016 13:42
The Ministry of Energy proposed the Government to freeze the price for natural gas for population for the next nine months, until 31st of March 2017, according to a draft decision.  The current calendar agreed by the government with the ...more »
June 30, 2016 13:38
Law firm PeliFilip assisted Argo Group in the sale of retail park Shopping City Sibiu to NEPI, a 100 million euro transaction , which sets it as one of the reference real estate transactions in Romania in 2016. PeliFilip legal team involved in the transaction was coordinated by Oana Bădărău and included them on Gianina Gavanescu and Mihaela Ispas, Senior Associates....more »
June 21, 2016 16:13
After 4 years of insolvency, the Bucharest Court decided on the 21st of June that hydro power producer Hidroelectrica can exit insolvency. Since 2012, Hidroelectrica has faced two insolvency procedures (2012-2013 and February 2014 – to date). During this years the company returned loans to banks and cancelled 11 onerous bilateral contracts worth 1.1 billion euro with several energy traders and final consumers: Energy Holding, Alpiq Romindustries, Alpiq Romenergie, Energy Financing Team, Alro Slatina, ArcelorMittal Galati, Electromagnetica, Electrocarbon, Euro-Pec, Elsid, Luxten....more »
June 16, 2016 16:01
Oscar Downstream, the largest independent oil & gas company, distributor for companies, celebrated on the 15th of June 15 years on the Romanian market. Oscar Downstream's businesses include classical distribution through fuel cards in their own network of 31 stations and fuel distribution in 1500 stations installed directly at the client, as main segments....more »
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 10, 2016 09:34
Dräexlmaier, the German producer of automotive components and one of the largest employers in Romania, attracted a financing of 40 million EUR from the European Bank of Reconstruction and Development (EBRD) through an emission of hybrid bonds. The financing adds to another 50 million EUR from a previous loan, bringing the project financing volume to a total of 90 million EUR. The funds are going to be used to increase the production capacity of the factories in Romania, Serbia, Macedonia and Tunisia, and also for financing a new production plant in Republic of Moldova. ...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 07, 2016 16:34
European based International Insurance Consortium/ IIC Group B.V. have stopped the completion of the purchase of all shares of the Romanian insurance company Carpatia Asig. This implicates that IIC Group have also withdrawn its application ...more »
June 07, 2016 16:16
Hidroelectrica threatened Translectrica and CEZ with a law suit for moral and material prejudice caused by accusations in the power blackout on the 1st of June in counties Valcea and Arges, leaving 150 000 individual and industrial consumers without electricity.  According to Hidroelectrica, the common briefing sent by Transelectrica (energy transportation) and CEZ (energy distribution) was "built on a lie", "tendentious" and "prejudicial". They also state that they have no fault in the matter, since their power flows were 70 MW below the allocated power and they notified Transelectrica about it the day before. ...more »
June 06, 2016 15:13
The consortium of banks consisting of BCR, BRD - Groupe Societe Generale, Banca Transilvania and Raiffeisen Bank was selected to provide securities brokerage and sale of state bonds for population. Moreover, according to the ministry of Public Finance, the four financial institutions will not charge any cost to individuals for the purchase of government securities if the subscription is made through them. ...more »
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