9 Martie 2009
Riff Holding talks merger with two advisory firms
Riff Holding it is evaluating the possibility of a merger that would guide is to No 6 spot on financial advisory market, said the chairman of the company, Marius Stancescu.
“We are talking merger with two other advisors in financial services. If the marriage is not concluded this year, the talks will be abandoned”, Stancescu added.
The head of Riff Holding refused to disclose the name of the two companies, saying that the combined revenues of the advisors amount to nearly 2 million euros.
“We faced a hurdle when it came to divide the social shares. It is crucial that the merger to be concluded now. If we climbed to Top 10 after only 10 years, it will last another decay to climb to Top5, before BDO Conti,” said Stancescu.
The audit and advisory firm, BDO Conti Audit Romania, part of the global BDO International ranks fifth in top financial advisors in Romanian market, right behind the “four aces” in professional services – PricewaterhouseCoopers, KPMG, Ernts&Young and Deloitte.
Mazars Romania advisor, specialized in taxes and audit takes the sixth sport in the ranking.
Riff Holding International announced the opening of a new business line, designed to business legal advisory, through a partnership with Deli&Hliboceanu lawfirm.
In current market conditions, Marius Stancescu said, many companies in Romanian market will be forced to reshuffle business and internal structure. “We will start seeing insolvencies in solvable companies”.
Therefore, this partner will enable Riff to provide legal advisory, both to its existing clients and to new clients, in insolvency and legal reorganization matters, receivable collection as well as mergers and acquisitions.
“Mergers will constitute a solution to weather crisis. In the merger and acquisition market it paves the way to a major spending cut”, said the chairman of Riff Holding International.
In early February, Riff Holding has become deal broker in M&A market after it had taken over Sunbelt franchise, now estimating the deals’ size between 10 and 50 million euros.
The head of Riff Holding refused to disclose the name of the two companies, saying that the combined revenues of the advisors amount to nearly 2 million euros.
“We faced a hurdle when it came to divide the social shares. It is crucial that the merger to be concluded now. If we climbed to Top 10 after only 10 years, it will last another decay to climb to Top5, before BDO Conti,” said Stancescu.
The audit and advisory firm, BDO Conti Audit Romania, part of the global BDO International ranks fifth in top financial advisors in Romanian market, right behind the “four aces” in professional services – PricewaterhouseCoopers, KPMG, Ernts&Young and Deloitte.
Mazars Romania advisor, specialized in taxes and audit takes the sixth sport in the ranking.
Riff Holding International announced the opening of a new business line, designed to business legal advisory, through a partnership with Deli&Hliboceanu lawfirm.
In current market conditions, Marius Stancescu said, many companies in Romanian market will be forced to reshuffle business and internal structure. “We will start seeing insolvencies in solvable companies”.
Therefore, this partner will enable Riff to provide legal advisory, both to its existing clients and to new clients, in insolvency and legal reorganization matters, receivable collection as well as mergers and acquisitions.
“Mergers will constitute a solution to weather crisis. In the merger and acquisition market it paves the way to a major spending cut”, said the chairman of Riff Holding International.
In early February, Riff Holding has become deal broker in M&A market after it had taken over Sunbelt franchise, now estimating the deals’ size between 10 and 50 million euros.