The French group Adeo, owner of Leroy Merlin stores, has paid EUR 17 million for the acquisition of the 15 stores that Austrian DIY retailer bauMax runs in Romania, reports Hotnews.ro.

Leroy Merlin announced several months ago the bauMax network acquisition in Romania, but the price was not made public at that time.

Law firm Wolf Theiss advised the seller, while the buyer was assisted by the law firm Noerr.

The Austrian retailer announced in the spring that bauMax would focus on five countries - Austria, Czech Republic, Slovakia, Hungary and Slovenia, and would analyse operations in Turkey, Romania, Bulgaria and Croatia.

editor@romania-insider.com