Ernst&Young: Romania M&A Market Down 28% To $909M In 2011

“The fact that the Romanian M&A market did not ‘come-back’ during 2011 still reflects the significant gap between value expectations of sellers and buyers, as well as the financial tensions in the euro-zone,” E&Y said in its Romanian M&A 2011 Barometer.

It said the appetite for takeovers in 2011 was not as strong as envisaged due to the limited economic growth and low consumer spending.

E&Y said 120 deals were closed in Romania last year, up 5% from 114 deals in 2010. However, the transaction value was disclosed for only 45% of the deals made in 2011, compared with 55% of total a year earlier.