The number of relevant transactions reached 19. Compared with the second quarter of 2016, this year brought one more transaction but the value rose threefold.
The average value of a transaction stood at EUR68 million in the second quarter of 2017, due to the significantly large impact of the top three transactions. After analysing the transactions whose value was not disclosed or estimated publicly, Deloitte estimates the overall M&A market ranged between EUR950 million and EUR1 billion in the second quarter of 2017.
The biggest deal registered in this quarter, which had a significant impact on data, but was not big enough to be classified as mega-transaction, was the EUR401 million deal whereby Enel acquired stakes of 13.6% in E-Distributie Muntenia and Enel Energie Muntenia, each, after the completion of international arbitration regarding the privatization of Electrica Muntenia Sud.
The second biggest transaction was the announcement of the acquisition of office buildings AFI Park by Dedeman, estimated at EUR164 million. The ranking of transactions is completed by the sale of 50% in Iulius Holding properties by Atterbury Romania. According to Deloitte estimations, the value of this transaction nears EUR150 million, based on the estimated value of assets of EUR300 million.
Cumulated, Romania’s M&A market reached EUR1.28 billion in the first half of 2017, double compared with the same period in 2016. A total 49 transactions were announced in 2017, compared with 38 in the first six months of 2016.
Throughout this period, Deloitte was involved, as financial consultant, in the acquisition of 31 drugstores by Penta Investments, which will be re-launched under the logo Dr. Max, as well as in the acquisition of Clever Taxi application by mytaxi.net, the largest taxi application provider in Europe, held by Germany’s Daimler (Mercedes).