Signs Of A Strengthening M&A Market In Romania

It is now seven years since Romania became a full member of the European Union but to some extent the country remains a wait and see proposition for multinational mergers and acquisitions (M&A) activity.

In 2013, according to a report by Ernst and Young, the Romanian M&A transaction market was dominated by domestic transactions making up 56 per cent of all deals by volume. Inbound transactions decreased by 14 percent from the previous year. The estimated value of M&A transactions in 2013 rose to USD 1.09 billion – up 39 percent on the previous year. A large part of this growth can be attributed to the UniCredit Tiriac Bank-RBS Bank transaction.

Who Are Doing M&A Deals In Romania?

Deals closed by strategic corporate investors represented 63 percent of total deals, 19 percent lower than the previous year. Transactions by financial investors took up the slack. This suggests a growing confidence amongst financial investors that both stability and growth opportunities can be found in the Romanian economy.

Which Sectors Are Most Involved in Romanian M&A?

Manufacturing was the most active sector for Romanian M&A in 2013 by a number of transactions, with 19 deals in the year. Energy & Mining (17 deals) and Telecoms & Media (15 deals) were not far behind in terms of deal count. In terms of value, the UniCredit Tiriac Bank-RBS Bank transaction made Banking & Financial Services overwhelmingly the largest sector, followed by Real Estate and then Retail & Wholesale.

Are There Underlying Trends In Romanian M&A?

Deals reflected a trend for powerful existing players to consolidate their markets inside Romania. A trend that seems set to continue in 2014. There are also the first signs that some of the consolidating players are beginning to consider M&A activity on an international basis.

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