1 Iunie 2009
Wall-Street Conferences: Dorul Lionachescu: a top-five bank received financial aid to avoid bankruptcy
After mid September last year, the market situation worsened in Romanian economy and a top 5 bank received a 200 mln euro aid to avoid bankruptcy, said Doru Lionachescu, partner at Capital Partners at M&A Outlook conferences organized by Wall-Street and Nexia International.
“One of the largest banks in the local marketplace, whose name wasn’t disclosed, received 200-mln euro financial aid to stay afloat. The world’s markets were severely damaged and Romanian financial system was one step away from collapse. Only then voices seeking loans from European Union and International Monetary Fund emerged”, said Doru Lionachescu (photo).
No reason to dramatize on these numbers, because in an economy contracting by 6% it is impossible to have M&A deals.
“We don’t have to get enthusiastic or dramatic. We’ve entered another economic cycle, similar to that in 1990-1991 when the situation was much worse than now. After March 15, it was almost certain to foreign investors that Romania would be having a solid agreement with IMF, and these are the first signals of a market rebound”, investment banker outlined.
Capital Partners has seven active mandates under management, in different stages of execution. It is early to estimate the completion date, Lionachescu continued. “They may complete within two-three weeks up to two or three months"
No reason to dramatize on these numbers, because in an economy contracting by 6% it is impossible to have M&A deals.
“We don’t have to get enthusiastic or dramatic. We’ve entered another economic cycle, similar to that in 1990-1991 when the situation was much worse than now. After March 15, it was almost certain to foreign investors that Romania would be having a solid agreement with IMF, and these are the first signals of a market rebound”, investment banker outlined.
Capital Partners has seven active mandates under management, in different stages of execution. It is early to estimate the completion date, Lionachescu continued. “They may complete within two-three weeks up to two or three months"