The Romanian M&A market recorded 189 completed deals worth EUR 4.3 billion last year, down by around 20% from 2022, when it reached EUR 5.2 billion, according to analysis by PwC Romania.
Without the EUR 1 billion-plus Enel deal, the local market would have reached EUR 3.1 billion in 2023. Even more, 70% of the number of transactions and 80% of their value come from transactions with strategic players as buyers.
Considering both completed and signed but not completed deals, there were 241 deals last year with a total value of EUR 7.7 billion. Many of the deals signed last year were announced in the last quarter and are expected to be completed this year, such as Mega Image’s acquisition of the Profi network, and Unicredit’s acquisition of Alpha Bank.
Eight very large transactions took place on the Romanian market, in this category being those exceeding EUR 100 million. Nevertheless, the last few years have also brought a few transactions of more than one billion euros.
The average value of a transaction last year was EUR 23 million, the highest average value since 2020. The IT&C, consumer goods, industrial products, and services sectors saw a significant increase in average deal value.
