{"id":5062,"date":"2022-01-27T09:12:00","date_gmt":"2022-01-27T09:12:00","guid":{"rendered":"https:\/\/ccib.ro\/afacerea\/?p=5062"},"modified":"2022-02-02T08:24:39","modified_gmt":"2022-02-02T08:24:39","slug":"piata-de-fuziuni-si-achizitii-din-romania-revenire-puternica-in-2021","status":"publish","type":"post","link":"https:\/\/revista-afacerea.ro\/afacerea\/piata-de-fuziuni-si-achizitii-din-romania-revenire-puternica-in-2021\/","title":{"rendered":"Pia\u021ba de fuziuni \u0219i achizi\u021bii din Rom\u00e2nia, revenire puternic\u0103 \u00een 2021"},"content":{"rendered":"
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\"\"Activitatea de fuziuni \u0219i achizi\u021bii (M&A) din Rom\u00e2nia a \u00eenregistrat o revenire puternic\u0103 \u00een 2021 fa\u021b\u0103 de 2020, at\u00e2t ca valoare, c\u00e2t \u0219i ca num\u0103r al tranzac\u021biilor, se arat\u0103 \u00eentr-un comunicat de pres\u0103 emis de EY Rom\u00e2nia. Astfel, conform sursei citate, anul trecut, valoarea total\u0103 a tranzac\u021biilor M&A a fost de 6,2 miliarde de USD (5,2 miliarde de euro), cu 32% mai mult dec\u00e2t \u00een 2020, la un volum de 178 de tranzac\u021bii.<\/p>\n

Barometrul EY arat\u0103 c\u0103 transparen\u021ba pie\u021bei r\u0103m\u00e2ne redus\u0103, valoarea tranzac\u021biilor fiind anun\u021bat\u0103 doar pentru aproximativ o treime dintre acestea. Valoarea medie a tranzac\u021biilor din categoria de peste 100 milioane USD a fost de 404 milioane USD, marc\u00e2nd o cre\u0219tere de 17% fa\u021b\u0103 de anul precedent. Pentru categoria tranzac\u021biilor de sub 100 milioane de USD, valoarea medie a fost de 15 milioane de USD, \u00een sc\u0103dere cu 12% comparativ cu 2020. Valoarea medie mai mic\u0103 pentru tranzac\u021biile de sub 100 milioane de USD are ca principal\u0103 cauz\u0103 faptul c\u0103 cele mai multe fuziuni \u0219i achizi\u021bii au avut loc \u00een sectoarele de tehnologie \u0219i agricultur\u0103, prelucrarea alimentelor \u0219i produselor alimentare, unde 93% dintre tranzac\u021bii au fost sub aceast\u0103 valoare.<\/p>\n

Analiza EY arat\u0103 c\u0103 tranzac\u021biile strategice au reprezentat 90% din activitatea M&A din 2021, \u00een timp ce capitalul privat a fost responsabil pentru restul activit\u0103\u021bii prin intermediul unui num\u0103r mic de tranzac\u021bii (17). \u00cen pofida ponderii mici \u00een activitatea M&A total\u0103, fondurile de capital privat r\u0103m\u00e2n active \u00een Rom\u00e2nia EY preconiz\u00e2nd c\u0103 se vor \u00eenregistra cre\u0219teri ale nivelului de activitate \u00een anii urm\u0103tori, av\u00e2nd \u00een vedere dimensiunea oportunit\u0103\u021bilor din pia\u021b\u0103 \u0219i aloc\u0103rile suplimentare c\u0103tre clasele de active din partea fondurilor de pensii (pilonul II).<\/p>\n

Tranzac\u021biile pe plan intern, care continu\u0103 s\u0103 reprezinte mai bine de jum\u0103tate din activitatea M&A din Rom\u00e2nia (54%), au crescut cu 35% \u00een 2021 fa\u021b\u0103 de 2020. Rom\u00e2nia r\u0103m\u00e2ne o destina\u021bie de investi\u021bii atractiv\u0103 pentru str\u0103ini, intr\u0103rile de capital reprezent\u00e2nd 41% din totalul tranzac\u021biilor. Cei mai activi investitori str\u0103ini au provenit din SUA (11 tranzac\u021bii), Germania, Fran\u021ba \u0219i Elve\u021bia (c\u00e2te 5 tranzac\u021bii), urma\u021bi de cei din Marea Britanie (4 tranzac\u021bii), Italia \u0219i Polonia (cu 3 tranzac\u021bii fiecare). Investi\u021biile rom\u00e2ne\u0219ti \u00een str\u0103in\u0103tate r\u0103m\u00e2n modeste, reprezent\u00e2nd numai 5% din activitate, un nivel practic neschimbat fa\u021b\u0103 de 2020 din perspectiva num\u0103rului de tranzac\u021bii.<\/p>\n

Conform sursei citate, sectoarele tehnologiei, imobiliar, al produselor de consum \u0219i comer\u021bului cu am\u0103nuntul au fost cele mai active \u00een 2021, \u00eenregistr\u00e2nd 72 de tranzac\u021bii \u00een total, adic\u0103 o cre\u0219tere de 50%, de la 48 de tranzac\u021bii \u00een 2020. Tranzac\u021biile din sectorul tehnologiei s-au dublat \u00een 2021, iar cele din sectoarele imobiliar, al produselor de consum \u0219i comer\u021bului cu am\u0103nuntul au crescut cu 35% fa\u021b\u0103 de anul precedent. S-au remarcat, de asemenea, intensific\u0103ri ale activit\u0103\u021bii de fuziuni \u0219i achizi\u021bii \u00een energie \u0219i utilit\u0103\u021bi (\u00eencurajate \u00een principal de domeniul energiei regenerabile \u0219i de tranzi\u021bia verde) \u0219i \u00een agricultur\u0103, prelucrarea alimentelor \u0219i a produselor alimentare.<\/p>\n

\u201dPreconiz\u0103m c\u0103 activitatea M&A \u00een Rom\u00e2nia se va intensifica \u0219i mai mult \u00een 2022, \u00een condi\u021biile \u00een care \u0219efii de companii continu\u0103 s\u0103 caute oportunit\u0103\u021bi pentru a accelera transformarea acestora \u0219i pentru a \u00ee\u0219i consolida pozi\u021bia pe pia\u021b\u0103\u201d, este de p\u0103rere Peter Latos, liderul departamentelor de Consultan\u0163\u0103 \u015fi Strategie \u015fi Tranzac\u0163ii, EY Rom\u00e2nia. \u201eCu toate acestea, \u00een contextul intensific\u0103rii concuren\u021bei pentru activele de \u00eenalt\u0103 calitate, cresc a\u0219tept\u0103rile v\u00e2nz\u0103torilor \u00een materie de pre\u021b \u0219i va fi important pentru \u0219efii de companii s\u0103 men\u021bin\u0103 o abordare riguroas\u0103 \u00een ceea ce prive\u0219te deciziile de evaluare a investi\u021biilor, av\u00e2nd \u00een vedere adversit\u0103\u021bile infla\u021bioniste, sub forma cre\u0219terii pre\u021bului energiei, salariilor, a costurilor cu materia prim\u0103 \u0219i a ratelor dob\u00e2nzii, pe l\u00e2ng\u0103 actualele perturb\u0103ri ale lan\u021burilor de aprovizionare, provocate de pandemie\u201d, atrage aten\u021bia specialistul EY Rom\u00e2nia. Acesta consider\u0103 c\u0103: \u201eimplementarea Mecanismului pentru redresare \u0219i rezilien\u021b\u0103, \u00een valoare de 29 miliarde de euro, care \u00een Rom\u00e2nia vizeaz\u0103 \u00een principal tranzi\u021bia verde (41%) \u0219i tranzi\u021bia digital\u0103 (21%), va \u00eencuraja, la r\u00e2ndul s\u0103u, activitatea M&A \u00een anii urm\u0103tori.\u201d<\/p>\n

Principalele trei tranzac\u021bii ale anului 2021 au fost: achizi\u021bia participa\u021biei de 50% a ExxonMobil \u00een proiectul offshore Neptune Deep de c\u0103tre Romgaz, cu 1,07 miliarde USD; achizi\u021bia participa\u021biei r\u0103mase de 46% \u00een cadrul Globalworth Real Estate Investments Ltd. (companie de investi\u021bii imobiliare cu sediul \u00een Rom\u00e2nia \u0219i listat\u0103 la Bursa de Valori din Londra), de c\u0103tre un consor\u021biu de companii din Luxemburg (CPI Property Group \u2013 Aroundtown), la un pre\u021b aproximativ de 844 milioane USD; achizi\u021bia operatorului rom\u00e2n de jocuri de noroc MaxBet de c\u0103tre fondul de capital privat britanic Novaplina Capital, pentru 296 milioane USD. De\u0219i nu s-a \u00eencadrat \u00een criteriile de includere \u00een Barometrul M&A realizat de EY, merit\u0103 remarcat\u0103 \u0219i cea mai recent\u0103 rund\u0103 de atragere de fonduri a UiPath, compania de tehnologie \u00eenfiin\u021bat\u0103 \u00een Rom\u00e2nia \u0219i listat\u0103 \u00een SUA, care a ob\u021binut alte 750 milioane USD cu aceast\u0103 ocazie, ajung\u00e2nd la o valoare post-investi\u021bie de 35 miliarde de USD.<\/p>\n

Anul 2021 a fost nu numai un solid pentru activitatea M&A, ci a marcat \u015fi un record pentru list\u0103rile de titluri de capital \u0219i obliga\u021biuni. Obliga\u021biunile corporative au luat partea leului \u00een materie de list\u0103ri, cu un total de 29 de noi emisiuni, cu valoarea total\u0103 de 1,1 miliarde USD, \u00een timp ce pe segmentul titlurilor de capital, s-au \u00eenregistrat 23 de list\u0103ri noi, dintre care trei IPO-uri pe pia\u021ba principal\u0103, \u00een valoare total\u0103 de 219 milioane USD. Interesul fa\u021b\u0103 de list\u0103rile pe segmentul alternativ, AeRO, a fost de asemenea mare, cu 20 de lans\u0103ri noi, \u00een valoare total\u0103 de 57,5 milioane USD. Tehnologia, produsele de consum \u0219i comer\u021bul cu am\u0103nuntul au fost principalele sectoare vizate de activitatea IPO.<\/p>\n

C. \u0218ERB\u0102NESCU
\n<\/strong>cristina.serbanescu@ccib.ro<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ctivitatea de fuziuni \u0219i achizi\u021bii (M&A) din Rom\u00e2nia a \u00eenregistrat o revenire puternic\u0103 …<\/p>\n","protected":false},"author":2,"featured_media":5078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146],"tags":[],"class_list":["post-5062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-din-lumea-afacerilor","issue-serie-noua-nr-15-27-01-2022-22-02-2022"],"acf":[],"yoast_head":"\nPia\u021ba de fuziuni \u0219i achizi\u021bii din Rom\u00e2nia, revenire puternic\u0103 \u00een 2021 - Afacerea<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/revista-afacerea.ro\/afacerea\/piata-de-fuziuni-si-achizitii-din-romania-revenire-puternica-in-2021\/\" \/>\n<meta property=\"og:locale\" content=\"ro_RO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pia\u021ba de fuziuni \u0219i achizi\u021bii din Rom\u00e2nia, revenire puternic\u0103 \u00een 2021 - 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