Hungarian Retailers Poised To Acquire Foreign Rivals

  • 21 May 2012 9:00 AM
Hungarian Retailers Poised To Acquire Foreign Rivals
Hungarian retail chains CBA and Coop are in the final laps of buying sector peer Match and Profi units from Belgium’s Louis Delhaize group, which is pulling out of Hungary, Napi Gazdaság reported citing market sources. State development bank MFB is to provide a loan for the deal. Coop has sufficient collateral but CBA Kereskedelmi, which coordinates the franchise network, has needed time to organise the necessary collateral, hence the delay, the daily reports.

CBA will take over Match and Profi stores in Budapest and Pest county, and Coop will take the rest of the units, with possible overlap in some regions depending on market potential, Napi Gazdaság learnt.

Source: Hungary Around the Clock

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