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2019-02-20  10:53
CIJEurope.com
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Deals

Blackstone to pay €5.5bn online RE...

German digital marketplace operator Scout24 has accepted an improved take-over offer of €5.5bn from Blackstone and Hellman & Friedman. The two private equity firms upped a previous bid of €43.50 per share to €46 per share. Sout24 has seen enormous growth during Germany’s real estate boom in recent years and Reuters is calling it the largest ever takeover of a listed Germany compan...
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2019-02-20  10:47
CIJ Serbia
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Research

Hungarian GDP to fall to 3.5% in 2019

The Hungarian Gross Domestic Product grew 4.8 percent last year, out-performing the expectations analysts had mid-year of just 4.5 percent. The performance is being chalked up to the government's pro-growth monetary policy, though there are concerns that this is igniting wage inflation. The Hungarian National Bank has adhered to a strategy of stimulus by maintaining low interest ...
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2019-02-20  10:41
CIJEurope.com
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Politics

Minister blames expensive mobile data on...

Czechs are by far not the richest European nation, but they're forced to pay exorbitant prices for mobile data in comparison to other countries. Novinky.cz writes that Czech consumers pay $6.50 for a single gigabyte of data, whereas in Spain and the Netherlands, they pay just over $5. But even this is expensive compared to Great Britain, Finland, Sweden and Austria where customer...
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2019-02-20  10:41
CIJ Serbia
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Company News

Jokay & Partners joins BDO Hungary

The law office Jokay & Partners is joining the advisory firm BDO Hungary. To be renamed to BDO Legal Jokay & Partners Law Office, the company will be led by Attila Marias and provide a wide range of professional support and services. BDO Global began expanding into the legal sector in 2011. BDO Hungary employs a professional legal team focused on legal, tax and due diligence w...
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2019-02-20  10:37
CIJ Serbia
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Project News

Serbia’s Vojvodina region to get €33.6m in...

A total of €33.6m worth of investment funding has been earmarked for the Vojvodina region in northern Serbia. The financing will go toward 56 projects that involve water supply, water protection, local and regional economic development, energy efficiency, transport infrastructure, culture, education and sports. The Capital Investment Administration of Vojvodina will cover €28.5m of th...
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2019-02-20  10:34
CIJ Serbia
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Company News

MK Group secures €25m from EBRD

MK Group has secured a €25m loan from the European Bank for Reconstruction and Development. The funding will go toward supporting trade operations as well as certain capital expenditures in Serbia. MK Group, a subsidiary of AEC Agrinvestment Limited, is the biggest sugar producer in Serbia. The company also operates in Croatia, Slovenia and Montenegro. Its business ventures include ag...
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2019-02-20  10:28
CIJ Serbia
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Company News

Infobip opens second office in Bosnia

Infobip opened a new office in Tuzla, northeastern Bosnia. The Croatian IT company is planning to initially employ 25 engineers at the location, with an additional 80 to be hired by the end of the year. Infobip also has an office in Sarajevo, where it employs more than 120 software engineers. Established 10 years ago, Infobip has a global workforce of 1,500 people in 61 offices. The c...
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2019-02-20  10:19
CIJ Serbia
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Project News

Kuwait Fund to help finance Koridor 5C...

The Kuwait Fund For Economic Development has agreed to help finance construction of the Koridor 5C motorway in Bosnia. The funds will go toward the development of Nemila-Donja Gracanica section, which covers 17.7 km. The loan agreement, signed between the Bosnian government and the Kuwait Fund, is for a period of 20 years. The project is expected to cost €34m. The Kuwait Fund has been...
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2019-02-20  10:10
CIJ Serbia
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Company News

Starbucks to open first store in Croatia

Starbucks will enter Croatia with the opening of its first coffee house in downtown Zagreb at the beginning of March. The cafe will be located at the Center Cvjetni shopping center. Starbucks is set to takeover the three-level space currently occupied by My Way restaurant, which is owned by Supernova Group. The American coffee chain operates 30,000 stores in 76 countries worldwide.
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2019-02-20  10:04
CIJ Serbia
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Company News

Smurfit Kappa poised to take over Bulgaria’s...

Smurfit Kappa is looking to take over Bulgaria’s Vitalvel AD, according to papers the Irish paper and packaging producer filed with the Commission for Protection of Competition. The exact financial terms of any future deal were not disclosed. Smurfit Kappa operates in 33 countries across Europe as well as the US and has a total of 45,000 employees. It produces corrugated cardboard, p...
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