Govnet

Autonet has closed a deal with Switzerland's Swiss Automotive Group for 51 percent shares

The shareholders of Autonet group of companies, the leading service provider on the Romanian automotive aftermarket, have closed a transaction with Swiss Automotive Group (SAG), one of the largest European independent provider of car parts. From here on, Autonet companies will be comprised within a holding, with SAG owning 51% of the shares, and the existing Autonet shareholders 49%. SAG and Autonet will continue to operate separately within their own markets.

Investments

Romanian smart watch brand Vector Watch gets five million dollar funding

The company Vector Watch, founded by Romanian entrepreneur Radu Georgescu obtained the third financing after it's launch in value of 5 million dollars. The funds will be used to extend US office and product development. Financing came from parent company Gecad Group that led the investment with 2 mil. $, Followed by 3TS Fund Catalyst Romania 1.6 mil. $ and a number of private investors among which the co-founders of eMag who made the difference of 1.4 mil. $.

Ramada Plaza Hotel in Craiova gets 8.3 million euro financing

Garanti Bank granted a loan of 8.3 million euros to finance Ramada Plaza Hotel in Craiova, the second of its kind in the country. The Ramada Plaza in Craiova consists of three buildings totaling an area of 16,000 square meters and includes 162 accommodation units, a conference room with capacity for 500 people, two meeting rooms, 2 restaurants, and a spa facility.

Autonet has closed a deal with Switzerland's Swiss Automotive Group for 51 percent shares

Romanian smart watch brand Vector Watch gets five million dollar funding

Ramada Plaza Hotel in Craiova gets 8.3 million euro financing

First private equity investment on the insurance brokerage market in Romania

Globalworth buys building in Green Court office complex

Austrian A-Heat Group invests over 30 million Euro in thermal water spa facility

Romania needs investments to grow its economy

International Investment Bank issued 111 million RON worth of stocks and shares on the Romanian market