Deal between Billa and Carrefour in Romania is imminent, price still uncertain
German retailer Billa will sell its local business to French retailer Carrefour for around EUR 100 million if it gets the fire safety permits for its stores. Without these permits, the selling price will drop to EUR 75 million.
The deal will be concluded within a few weeks, or even within a few days, according to market sources cited by local Wall-street.ro. The only variable is the fire safety permits, which could lower the selling price.
Billa operates 86 stores in Romania. It is part of the German group Rewe that also holds the local Penny Market network.
French group Carrefour is one of the top three retailers in Romania, with yearly revenues of over EUR 1 billion.
editor@romania-insider.com
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