Recent M&A deals in South-East Europe

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Written by VentureXchange

September 30, 2020

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We have seen in the past month new mergers and acquisitions in South-East Europe. Here, we included some of the latest M&A deals in South-East Europe according to an online media source.

Croatia

The European Commission recently approved the proposed acquisition of Slovenian retailer Mercator by Croatia’s Fortenova Group, the successor to the collapsed food-to-retail concern Agrokor. The Commission said in a statement that the transaction will not harm competition in the European Economic Area. Fortenova and Mercator are both active in the supply of daily consumer goods, with the former currently active in Croatia and Slovenia, and the latter primarily located in Slovenia, with a significant presence at the retail level where Fortenova is not active.

There have been more new acquisitions in Croatia. A Digital Realty Company and a leading European provider of carrier- and cloud-neutral colocation data centre solutions, has acquired Altus IT, the leading carrier-neutral data centre provider in Croatia, offering a gateway for interconnection and peering with a number of prominent service providers in South-East Europe.

Romania

Resolution Property and Zeus Capital Management have recently acquired Floreasca Park, a ca. 40,000 sqm office campus in the heart of Bucharest. The property was sold to the joint venture by a fund managed by GLL Real Estate Partners.

“We are very pleased to conclude the acquisition of a landmark prime office building and progress with our investment program in Central East and South East Europe. This is the fifth transaction of our investment platform that is focused on prime commercial real estate properties in the region. We are confident that this market-leading asset in Bucharest’s promising office market will perform exceptionally well for our investors. ”

Stelios Zavvos, Chairman and CEO at Zeus Capital Management for Warsaw Business Journal

Bulgaria

Cyprus-based company Potamiro has completed the acquisition of the owner of Bulgarian hotel operator Sofia Hotel Balkan. The transaction, in which Potamiro acquired indirect sole control of Sofia Hotel Balkan – the company running the five-star hotel of the same name in central Sofia, was concluded on September 3. Following the transaction, Potamiro now controls 100% of Naranjilla Company, which holds 87.49% interest in Sofia Hotel Balkan through its wholly-owned subsidiary Bandola Properties.

Austria’s Energy Development has completed the acquisition of Bulgaria-based ACWA Power CF Karad PV Park, the owner of Karadzhalovo solar power plant, and plant operator NOMAC Bulgaria from Saudi-based ACWA Power. According to SEE News, ACWA Power, a developer, investor and operator of power generation and desalinated water plants, was the end-owner of the Bulgarian companies through two of its subsidiaries – Malta-registered ACF Renewable Energy Ltd, which controlled ACWA Power CF Karad PV Park and Saudi-based NOMAC Ltd., which was the owner of NOMAC Bulgaria. 

Slovenia

Italy-based investment company META Ventures said it acquired the remaining 49% stake in Slovenian fund manager META Ingenium from Slovenia’s sovereign holding company, SDH. The acquisition is a result of a public tender opened by SDH at the end of February, META Ventures said in a statement earlier this month. META Ventures was established in Italy more than 27 years ago, specialising in early-stage equity financing, advisory and academic activities. It has so far invested more than 100 million euro ($116 million) in over 100 high-growth startups across Europe.

For more information on M&A deals in South-East Europe and news, please visit SEE News and Emerging Europe.

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