BR ANALYSIS. Romania’s top ten M&A transactions in 2018 exceed EUR 1.5 bln

The top 10 reported transactions above EUR 100 million of 2018 are from different sectors, with real estate, technology and pharma being best represented with two transactions each, completed by agriculture, banking, telecom and transportations with one each. The total value of the ten largest M&A transactions is around EUR 1.5 billion, not including Vodafone’s takeover of UPC Romania, whose value was undisclosed.

According to Ioana Filipescu, M&A Consultant Partner at Deloitte Romania, the company only included transactions that it considers to be higher than the threshold reference.

1. The sale of Zentiva by Sanofi to Advent – estimated at EUR 287 million;

2. The acquisition of Agricost by Al Dahra – EUR 200 million;

3. The Paval brothers’ purchase of The Bridge office building from Forte Partners – EUR 200 million;

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4. The third round of UiPath funding, headed by Sequoia Capital – EUR 194 million euros;

5. Sale of Oregon Park to Lion’s Head Investment – EUR 170 million;

6. The second round of UiPath funding, led by Accel, Capital G & Kleiner Perkins Caufield & Byers – EUR 153 million;

7. The sale of the 6 percent of BCR shares held by SIF Oltenia to Erste Group – EUR 140 million;

8.  Sale of Urgent Cargus by Abris to Mid Europa – estimated at EUR 120 million;

9. The acquisition of Farmexim and Help Net by Phoenix Group – estimated at around EUR 100 million

10. The acquisition of Liberty Global (UPC Romania) shares in Romania by Vodafone – undisclosed value.

The most spectacular transactions

It would be tricky to evaluate the transaction in which Vodafone took over the European portofolio of Liberty Global, which includes UPC Romania, since no money crossed the Romanian border, so it is impossible to estimate a value that’s even close to the real one.

The most spectacular transaction was the transfer of the biggest Romanian farm, Agricost, to UAE’s Al Dahra portofolio, for EUR 200 million.

Another interesting transaction which alters tradition is Paval brothers’ Dedeman taking over the office project The Bridge developed by Forte Partners in the center-west of Bucharest, for EUR 200 million, in the first very important real estate transaction where both companies involved are Romanian.

What remains to be seen is whether the few days that remain until the end of the year will bring any new transactions on the market.