Ellaal Goldberg Corporation, a US company based in Washington DC, plans to invest as much as USD 50 million in Romanian media projects, the company’s representatives announced on Friday, April 20.

The company’s investment plans include USD 20 million worth of investments in the first year, according to Mark J. Robertson, president of Potomac Global Advisors, an international strategic and financial consultancy based in Washington, who acts as Ellaal’s representative.

Robertson said these investments are “both economically material and strategically important to driving positive impact in Romania, and it is critical to support a free and independent media in this important region.”

Ellaal Goldberg has a subsidiary registered in the Romanian city of Targu Mures since 2005. The US firm owns 70% of this company, the remaining 30% being equally split among three Romanian partners, namely Mihai Robert Rozsa, Csaba Bartos and Cozmin Gusa.

Ellaal’s Romanian subsidiary has also invested in the Romanian insurance market through a partnership with American insurance group ARCH Reinsurance Company.

editor@romania-insider.com