Delhaize Gets Approval For La Fourmi Acquisition
Publish date: 07-08-2008The Romanian competition regulator has approved the sale of the La Fourmi chain to Delhaize. The regulator said it does not expect the deal to lead to consolidation or to establishment of a dominant position on the relevant markets and does not harm the competition environment in Romania.
In March, Delhaize said it had entered into an agreement to acquire La Fourmi for E18.6m through its Mega Image subsidiary. It said it expected to close the transaction in the second quarter of 2008. La Fourmi operates 14 stores in Bucharest, each covering 350 to 500 sq.m, and generated revenue of around E30m in 2007.
The stores will be rebranded as Mega Image stores and will be served by Mega Image's existing distribution centre. They will add to Delhaize's existing network of 22 Mega Image stores in Romania.
Latest News:
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei