UniCredit SpA’s Romanian unit will put its expansion plan on hold because the Balkan nation is not a strategic market because of its slow economic growth and high credit risk, Ziarul Financiar reported today, citing Rasvan Radu, the unit’s chief executive officer.
Tarom SA, Romania’s national air carrier, appointed Sorin Georgescu as chief executive officer, replacing Gabriela Bordea, who headed the company since April 2011, Ziarul Financiar reported, citing unidentified market people.
Romanian state-owned utility Transelectrica SA secured a five-month loan valued at 125 million lei ($35 million) from Citigroup Inc. to cover certain immediate funding needs, Ziarul Financiar reported.
New Europe Property Investment Plc. may buy an office building in Romania’s capital Bucharest for about 70 million euros ($95 million), Ziarul Financiar reported today, citing unidentified people with knowledge about the deal.