“At present, we are finalizing the candidate shortlist and we hope to close the selection process in the near future. We expect to be able to make an official announcement regarding the person who will replace Mr. Stelian Dragan [the former manager] in the coming two months,” Kiakidis told Business Standard.
“The priority of Global Finance’s new manager will be finalizing the transactions in Romania. We hope to announce at least one transaction by year-end. Usually, the prices of transactions we close range between €15-60 million,” Kiakidis said.
Global Finance’s former chief in Romania estimated for Business Standard four months ago that “Romania could absorb at least €50 million of the resources worth up to €150 million we have for the region.”
“Meanwhile, the outlook of Romanian companies worsened, but very few things have changed in the past months, regarding the gap between the expectations of successful entrepreneurs and those of potential buyers. This gap is the main reason for the lack of transactions,” the Partner of the Polish Enterprise Investors private equity company, Cristian Nacu, said.
