August 7, 2014
Business news you do not have to miss today
Romania produced more milk, dairy products in first six months of 2014
The total quantity of milk collected by Romanian processing plants increased by 15.6% in the first half of this year compared to the same period of 2013, to more than 504,000 tons, according to data published by Romania’s statistics institute (INS). Romanian dairy companies also increased their outputs during the period. Drinking milk production was up […]
Papalekas’ Globalworth to build 105,000 sqm office compound in Romanian capital office hotspot
Real estate fund Globalworth, controlled by Greek investor Ioannis Papalekas plans to build an office compound right above the Pipera subway station in Bucharest, with an estimated EUR 98 million investment. With a total gross leasable area (GLA) of 105,000 sqm, Globalworth Bucharest Campus would be the largest office park in Romania. Its location is […]
Bucharest Stock Exchange triples profit in the second quarter on Electrica’s IPO, Romgaz sale
Two large transactions, the initial public offering (IPO) of Romania’s electricity distributor Electrica and the sale of a 5% stake in Romgaz by Fondul Proprietatea, doubled the value of transactions on the Bucharest Stock Exchange (BVB) in the second quarter of this year, which led to 82% higher revenues for the market operator. BVB posted […]
Romanian Farmexpert to become part of the world’s largest drug store chain after Walgreens – Alliance Boots deal
Farmexpert, the second largest pharmaceutical distributor in Romania, will become part of the portfolio of American group Walgreens, which announced the takeover of Swiss based Alliance Boots, the owner of the Romanian company. Farmexpert has yearly sales of some EUR 500 million. Walgreens will pay GBP 6 billion for the 55% stake it doesn’t yet […]
Another thermal power plant for sale in Romania
Insolvency firm Musat & Asociatii-Restructuring & Insolvency, the assigned liquidator for the assets of former state owned power producer Termoelectrica, has put the Borzesti thermal power plant for sale for a starting price of EUR 21.8 million, VAT included. The power plant is located in the town of Onesti, in the Moldova region of Romania. […]
ING Asigurari ups premiums by 8%, triples profit in Romania
Gross premiums subscribed by clients of Romanian insurer ING Asigurari increased by 8% in the first six months of this year, to EUR 68 million. This was mainly supported by improved economic perspectives and higher purchase power for the population, said the company’s representatives, quoted by Mediafax. The average yearly premium increased by 6%, to […]
Financial regulator: Capitalization first for Romania’s Astra Asigurari before AXA takeover
Romania’s Financial Supervisory Authority (ASF) said it will approve the takeover by Romanian insurer Astra Asigurari of French group AXA’s Romanian subsidiary only after Astra will be capitalized by its shareholders and will recover financially. “These are legal preconditions that any potential buyer must fulfil in order to take over another company,” the ASF explained, […]
Source: Romania-insider.com
