In the first three months of 2017, a total 28 transactions, worth EUR368 million, were announced, after the value of transactions had reached a record high in the last quarter of 2016.
Compared with the previous quarter, the volume of transactions fell 10% and the value of transactions halved, even without considering the two mega-deals in the fourth quarter (Mid Europa – Profi and Asahi – Ursus Breweries). Compared with the first quarter of 2016, the number of transactions rose 40% and the value rose 11%.
Considering the transactions whose values were not disclosed, Deloitte estimates Romania’s M&A market reached EUR370-500 million in the first three months of 2017.
The largest transaction in the first quarter was the acquisition by Fortuna Entertainment Group of Hattrick Sports Group, which operates in Romania through Casa Pariurilor (Gambling House). Within the transaction, Deloitte carried out due diligence for then buyer. The second transaction by value targeted the takeover and capital increase by EUR50 million of City Insurance by specialized fund Berlin London Beteiligungs.
The ranking also includes the acquisition of the warehouse in Oarja by Globalworth Real Estate, which paid EUR42.5 million to acquire the spaces.
The average value of a transaction reached EUR25 million in the first quarter, similar with that in the previous quarters, but below the level registered in the fourth quarter of 2016.