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Deloitte: The M&A market has doubled in the first half of the year

The M&A market in Romania has reached 889 million Euro in the second quarter of the year according to public sources and disclosed transactions, more than double compared to the first quarter, an analysis by Deloitte Romania has revealed. The total number of relevant transactions was 19. Compared to the similar period last year, in 2017 the number of transactions grew by one and the disclosed value has increased three times.

2017-07-13 15:19:58

The average transaction size in the quarter was 68 million Euro, due to the large impact of the top three transactions. After reviewing the transactions with undisclosed or publicly estimated value, Deloitte's best guess on the total Romanian M&A market value in the second quarter of 2017 is in the 950 million - one billion Euro range.
In the first half of the year, the Romanian M&A market has reached 1.28 billion Euro, double as compared to the first half of 2016. The total number of announced M&A deals has reached 49 (versus 38 in the first six months of 2016).

"We have seen a very good quarter for the M&A activity in Romania, in line with our expectations driven by the favourable macroeconomic environment and solid results posted by the Romanian companies," said Ioana Filipescu, M&A partner Deloitte Romania. "Currently, Romania is an exciting destination in many sectors, especially in financial services, retail & consumer, healthcare and industrial products. We expect the increasing trend in the M&A market to continue during the second half of the year.

The largest transaction in this quarter, which has skewed the aggregate data, but has not reached the size necessary to be classified as mega-transaction is the 401 million Euro acquisition of 13.6 per cent of E-Distributie Muntenia and Enel Energie Muntenia by Enel, following the conclusion of the international arbitration regarding to the privatization of Electrica Muntenia Sud.

The second largest transaction is the announcement of the long-rumoured acquisition of the AFI Park office buildings by Dedeman, with an estimated value of 164 million Euro. The third largest transaction of the quarter is the sale of 50 per cent of the business of Iulius Holding to Atterbury Romania. According to Deloitte estimations, the value of the transaction was 150 million Euro based on a 300 million Euro-estimated value of the target assets.



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