The bulk of the amount represents the acquisition by Macquarie Infrastructure and Real Assets (MIRA) of CEZ Romania assets, for an estimated EUR1 billion.
“Romania’s M&A market saw growth in the second half of 2020, due to the sectors of energy, technology and healthcare which had a positive evolution. Local investment funds became increasingly active and started to contribute to the development of the local M&A market,” stated Razvan Butucaru, Partner, Financial Services & Advisory Leader, Mazars Romania.
The value of transactions in Central and Eastern Europe (CEE) grew 11% in 2020, up to EUR49.2 billion, despite a 16% decline in volume, down to a total 648 transactions. The disruption caused by the COVID-19 pandemic did not last long, with investors making a comeback in the second half of the year, per an analysis by Mazars.
International investors are still attracted by the region, generating 49% of the total value of transactions – with investments of EUR23.9 billion – similar with the level reported in the previous years.
Excluding Russia, the largest economy in the region, the value of transactions grew 28% year-over-year.
Equity funds remained extremely active in 2020 too, with the total number of acquisitions declared in the region growing 40%, up to EUR3.9 billion.
In the region, the M&A market remains dominated by Russia, Poland, the Czech Republic and Austria. Russia registered four of the ten largest transactions of the year, while the largest transaction of the year was carried out in Austria. Following this transaction, Austria’s oil company OMV increased its ownership in petrochemical company Borealis to 75% from 36%, for which it paid EUR5.712 billion.
The biggest number of transactions in CEE was registered in the sector of technology, with a total 57 transactions worth EUR2.5 billion, an annual increase of 12% by volume and of 34% by value.
The energy and utilities sectors registered transactions worth EUR9.1 billion in 2020, up 20% on the year.