The Romanian M&A market made a considerable comeback in the second quarter, with a reported value of transactions at EUR391 million. Deloitte estimates the market stood at EUR1.1-1.3 billion in the second quarter, including transactions whose value has not been disclosed.
“If we look at the first half, we see an increasing trend of non-disclosed amounts. From our estimates,m the total value of the M&A market in the first half was between EUR1.6 billion and EUR1.8 billion,” said Ioana Filipescu, Corporate Finance partner at Deloitte Romania.
The largest transactions in the second quarter were Vodafone’s acquisition of Liberty Global’s operations in Germany, Czech Republic, Hungary and Romania (undisclosed value for Romania); Lion’s Head Investment takeover of office development Oregon Park in Bucharest (undisclosed value); SIF Oltenia’s sale of its 6.3% stake in BCXR to Erste Group Bank (EUR140 million); German group Phoenix’ acquisition of wholesaler Farmexim and pharmacy chain Help Net (undisclosed value); and AkzoNobel’s takeover of Fabryo (undisclosed value).
Deloitte Romania expects M&A activity will continue to grow in the second half of the year, said Filipescu.