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Romania registered by 40 pc more M&A transactions in Q1 yoy, Deloitte shows

By Anca Bernovici
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The first quarter of 2017 has brought a correction in the value of significant M&A transactions in Romania, after a record breaking fourth quarter of 2016, being in line with Deloitte analysts expectations, a press release informs.

Local M&A market registered a disclosed amount of EUR 368 million and 28 deals. Compared to the first quarter of 2016, in Q1 2017 there were 40 percent more transactions and the disclosed value increased by 11 percent.Ilustratie Deloitte piata M&A_Q1 2017

Compared to the last quarter of 2016, the current quarter is 10 percent down in the number of transactions and more than halved in market value, even without taking into consideration the two mega-transactions of Q4 2016 (Mid Europa – Profi and Asahi – Ursus Breweries).

“We estimate that the activity will continue to maintain at the level of 2016 given the positive results registered by companies in all fields of activity as well as a big interest of the large private equities for Romania,” said Ioana Filipescu, M&A partner Deloitte Romania.

The largest transaction in this quarter has been Fortuna Entertainment Group’s acquisition of Hattrick Sports Group, including Casa Pariurilor, a transaction whose upfront Romanian we estimated atEUR 51 million. Deloitte has provided transaction services support to the buyer. Second largest transaction is the announced take over and EUR 50 million capital increase of City Insurance by Berlin London Beteiligungs specialized investment fund. The top 3 is closed by the EUR 42.5 million acquisition of the Oarja warehouse by Globalworth Real Estate.

The average transaction size in the quarter was EUR 25 million, in line with past quarters although below Q4 2016. Considering the transactions with undisclosed value, Deloitte’s best estimate on the total Romanian M&A market value in the first quarter of 2017 is in the EUR 370– 500 million range.

During Q1 2017, Deloitte Romania’s Corporate Finance team has completed the negotiations on the sale of Goodmill’s fresh bakery business and assets to a group of 18 local buyers and is dealing with a number of projects in different stages of execution both on the sell-side as well as on the buy-side.

 

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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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