French retailer Carrefour is in the final negotiation stage to fully purchase Cora’s retail network in Romania and the transaction will be signed later this day, according to ZF.ro.
The transaction involves 10 Cora hypermarkets as well as several proximity stores. If the deal is completed and approved by the authorities, French retailer Cora will exit the Romanian market.
Cora recorded during 2021 sales of around 1.55 billion lei (€314 million), which was down 5% compared to 2020. Meanwhile, Carrefour’s sales reached 2.6 billion lei (€526 million) in 2022, up 9% year-on-year. Carrefour’s retail network in Romania counts around 400 stores including hypermarkets, supermarkets, and proximity retail units.
If approved, Carrefour’s purchase would be one of the biggest retail transactions in the country.
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