Romania's M&A market shrinks in H1, but sentiment remains positive

The Romanian mergers and acquisitions (M&A) market recorded 132 transactions in the first half of the year, with an estimated total value of USD 3.7 billion, slightly increasing in terms of numbers from 131 transactions in H1 2022, but down 11% in value, according to an EY Romania analysis quoted by Ziarul Financiar.

In the first six months of 2022, the M&A deals on the local market had a total value of USD 4.2 bln.

Overall, the M&A activity in the first half of this year has recovered from a slower pace in the second half of 2022, with the number of transactions announced in H1 2023 representing an absolute record for Romania.

The mega-deal involving the transfer of Enel's local assets to Greek PPC (USD 1.4 bln) accounted for a large part of the M&A market in H1, while several other large-sized deals were also reported.

"This makes us optimistic, but cautious, regarding the evolution of the local M&A market for the rest of the year, especially as we continue to observe a very positive dynamic in two key sectors - technology and energy", said Iulia Bratu, Head of Lead Advisory, EY Romania.

The most active sectors in terms of transaction volume were Real Estate, Hospitality & Construction (27 deals), Technology (22) and Consumer Products & Retail (21).

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