BUCHAREST (Romania), September 18 (SeeNews) – Romania's cross-border mergers and acquisitions (M&A) market totalled $10 million (6.8 million euro) in the first half this year, the second lowest value among the European Union member states, United Nations' World Investment Report 2009 showed.
In the first half of 2009, 11 transactions took place in Romania, according to the United Nations Conference on Trade and Development (UNCTAD) report.
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The value of net cross-border M&A sales in Romania fell by 44% last year to $1.1 billion in 39 transactions, the report showed. Net cross-border M&A sales in a host economy are calculated by extracting the sales of foreign affiliates in the host economy from the sales of companies in the host economy to foreign trans-national corporations.
Bulgaria, which joined the EU together with Romania in January 2007, had $145 million in net cross-border M&A sales in the first six months of the year in eight deals. Last year, cross-border M&A totalled $186 million, sharply down from $971 million in 2007. Bulgaria handled 26 M&A deals last year, the report showed.
Austria had the lowest level of cross-border M&A in the first half of 2009, $7.0 million.
($=0.6814 euro)