M&A market reaches $834m in H1

The total value of mergers and acquisitions on the Romanian market amounted to 834 million dollars (700 million euros) over the first six months of the year, a level higher than that for the whole of 2004, according to the professional services company, KPMG, which quoted a survey by Dealogic. Total transactions in the first half of the year increased by 82% compared with the second half of last year. The value of transactions in 2004 was 719.11 million dollars. The survey does not include privatisations and provisional services. KPMG believes the market will grow in the second half of 2005. “With strong economic development and accession to the European Union getting closer and closer, the country is expected to remain attractive to investors. The final stages in the privatisations of state-owned enterprises, especially banks and utility companies, as well as from other sectors, are providing interesting opportunities. Private transactions, which are now in their early stages by European standards, could develop positively in the second half of the year,” said the KPMG Romania head of corporate finance, Guy Verduystert. The survey also shows that France was the main investor for transactions concluded before June 6 2005, with a total of 574.47 million dollars. ZF