Major deals in 2007Publish date: 17-12-2007
The energy market, the IT & C field, and financial services yielded the most significant business in 2007, with private deals dominating both in terms of numbers and value of the local business environment.
The sale of oil group Rompetrol by its former owner, businessman Dinu Patriciu, estimated at some $2.7 billion, the Initial Public Offer (IPO) for state-owned gas distribution company Transgaz, the start of the mandatory pension market, and the decision of cable and telecom operator RCS & RDS to forego listing on the London Stock Exchange (LSE) and borrow a record $500 million from international lenders were the events with the highest impact on Romania's business market, with reverberations on the oil market, Bucharest's Stock Exchange (BVB), the labor market and the international financial markets.
Another trend in the business field was the decision by leading businesspeople to attract foreign capital into the businesses they established in the 1990s and which they can no longer develop on their own.
Patriciu gave up control of his company, Rompetrol, a business worth a mere several million dollars in 1998 and currently estimated at some $7.5 bln.
Businessman Horia Ciorcila, President and shareholder of Banca Transilvania, decided to sell the lender's insurance unit, BT Asigurari, to French group Groupama, while software company BitDefender founder, Florin Talpes, sold 7 percent of his company to seven investors.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei