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Romania's Q2 M&A market grows to 790 mln euro - Deloitte

Romania's Q2 M&A market grows to 790 mln euro - Deloitte Deal, business, corporate contracts

BUCHAREST (Romania), July 9 (SeeNews) - The value of Romania's merger and acquisition (M&A) market grew in the second quarter of the year, reaching 790 million euro ($887 million), up from 120 million euro in the first quarter, global consultancy Deloitte said on Tuesday.

However, taking into account transactions with a still undisclosed value, the M&A market could reach an estimated 1.4 - 1.6 billion euro in the second quarter, Deloitte said in a press release.

"After a modest start there were four transactions worth at least 100 million euro in the second quarter. If we look at the result for the first half of the year, the M&A market estimated on the basis of the transactions with communicated value was almost 909 million euro. We note that the trend of not communicating the value of transactions has continued to increase," Deloitte Romania corporate finance partner Ioana Filipescu Stamboli said.

In total, 30 transactions were announced in the second quarter of this year, including those whose value was not officially disclosed. In the similar period of 2018, 27 transactions had been announced. Deloitte's analysis did not take into account transactions worth less than 5 million euro each.

Deloitte estimates that one of the largest transactions in the second quarter of 2019 was the new $568 million (500 million euro) financing round obtained by UiPath, a robotic process automation startup founded in Romania.

Next, the takeover by EximBank of 99.28% of Banca Romaneasca from National Bank of Greece is believed to be significant, though the deal's value was not disclosed.

Deloitte also mentioned the acquisition of a minority stake in Superbet, the largest player on the sports betting market in Romania, by Blackstone investment fund for 175 million euro, the takeover of The Office in Cluj-Napoca by Romanian DIY retailer Dedeman for an undisclosed sum, and a 60 million euro investment by CEE Equity in the upgrade and development of Brise Group's 15 wheat silos and logistical hubs.

In 2018, Deloitte estimated the value of Romania's M&A market at 3.8 to 4.3 billion euro, including the deals whose values were not disclosed, which were significantly more compared to previous years.

($=0.8907 euro)