The Romanian market of mergers & acquisitions (M&A) topped USD 909 M last year, down 28 pc against 2010, plus a sum of USD 851 M representing international transactions that involved Romanian subsidiaries, according to Ernst & Young (E&Y) estimations quoted by Mediafax. In 2010, the M&A market had amounted to USD 1.264 bln.
The number of transactions increased against 2010, from 114 to 120, but the number of cases in which financial figures were announced has decreased. Last year, the value of the transaction was made public in 54 contracts, accounting for just 45 pc of the total, compared to 55 pc in 2010. The aggregate value of these transactions amounted to USD 383 M last year, down 46 pc from USD 712 M in the previous year. By extrapolating the information made public, E&Y estimated the value of the mergers & acquisitions market for 2011.
The most active sectors were production (20 transactions), telecommunications and media (14), real estate (13), energy and mining industry (11), the medical sector, and IT and services (9 transactions each). Going by the average value of the transaction, the retail sector dominated the market, followed by the energy and mining industry.
The biggest transaction conducted last year was the takeover of Auto Italia Showroom by the Israelis of Mediterranean Car Agency, against USD 28.56 M. A top 10 biggest transactions also includes the takeover of TMK Hydro energy Power by CEZ (USD 28.27 M), and the acquisitions of City Mall (USD 24.29 M) and of the electronics and IT retailer Flanco (USD 23.38 M). Coming next is the takeover of nine Polisano clinics by the German provider of dialysis services Diavernum, in a transaction estimated by E&Y at USD 19.49 M.