Record number of M&A deals in Romania in 2019

Romania’s mergers and acquisitions (M&A) market recorded 110 transactions in 2019, the highest level in a decade, according to financial consultancy firm Deloitte. In 2018, the number of deals was 98 and in 2017 – 106, says Romania-Insider.com.

The total volume, including transactions whose values were not disclosed, was EUR 4–4.4 billion in 2019, up from EUR 3.8-4.3 billion in 2018, according to Deloitte estimations. Meanwhile, the disclosed transactions amounted to EUR 1.7 billion (EUR 1.9 billion in 2018).

“2019 was an intense year for deal making, the number of transactions reaching a 10-year high. Following a sluggish start, in specific circumstances, the market has regained its pace starting the second quarter and the total number of transactions exceeded 100,” said Ioana Filipescu Stamboli, Corporate Finance Partner, Deloitte Romania.

However, only 24 deals had their values disclosed, making it more difficult to estimate the total value. Nine transaction with a disclosed or estimated value of at least EUR 100 million were announced in 2019, compared to 14 in 2018.

Among the biggest deals of 2019 were the acquisition of CME group, which owns the biggest media company in Romania – PRO TV, by Czech investment fund PPF, tech unicorn UiPath’s USD 568 mln financing, Eximbank’s takeover of Banca Romaneasca, the acquisition of betting company Superbet by investment fund Blackstone, and the takeover by INGKA group of seven wind farms in Romania from Vestas. Several big deals were also recorded on the real estate market, namely the takeover by AFI Europe of NEPI’s office portfolio and the acquisition of The Office project in Cluj-Napoca by the Paval brothers (Dedeman).

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