Retail, FMCG and energy industries have kept the headline transactions of Romanian assets mergers and acquisitions (M&As) in 2016, says Ioana Filipescu, partner of the Division of Corporate Finance, Deloitte.
“The energy market provides among the most important transactions, always being in the top three in the ranking of the largest transactions. In addition to KazMunayGas transaction, which involved Romanian assets but was made outside the country, we had some interesting examples of sales of portfolios, such as those of the Fondul Proprietatea in E.ON subsidiaries, or that of E.ON Distributie to Allianz,” Filipescu told energynomics.ro.
Among the largest transactions of the past year with Romanian energy assets were the acquisition of 51% of assets KazMunayGas by China Energy Company Limited (CEFC), the sale of portfolio of shares held by Fondul Proprietatea (FP) in subsidiaries of E.ON or the 30% of E.ON Distribution by Allianz. Also, FP announced its intention to sell part of the shares in OMV Petrom, and also in its Electrica subsidiaries.
“2016 was an exceptional year for M&A. In 2016 there were transactions worth 3.4 to 4 billion euros in Romania, with almost 23% more than the volume registered in 2015. Of the 85 transactions, three have exceeded 500 million,” Filipescu says.
Average transaction exceeded 40 million, and for 2017 thre M&A market is estimated to reach 3 billion euros, at half of the peak values recorded during the previous economic boom that ended in 2009.
