Germany’s Rewe reportedly in talks to sell its XXL Mega Discount stores in Romania

By bne IntelliNews April 12, 2016

Germany’s retailer Rewe is reportedly in talks to sell its eight XXL Mega Discount stores in Romania, local Ziarul Financiar reported on April 12 quoting unnamed sources.

Last year Rewe also sold its 86 Billa stores in the country to French retailer Carrefour for around €100mn, though the deal still needs regulatory approval. In 2010, the German retailer sold its Selgros cash and carry store network in an international transaction. In Romania, apart from the XXL Mega Discount network, Rewe still owns the Penny Market chain.

The talks on the sale of the XXL Mega Discount stores are in their early stages, the sources said, adding that France’s Auchan and Carrefour and Belgium’s Delhaize-Ahold are potential buyers.

The eight stores reportedly put up for sale have areas of between 2,500 square metres and 7,500 square metres and are located in medium and large towns.

“Auchan and Carrefour are the retailers with the biggest appetite for acquisitions in Romania. They are competing for the leader position and they can achieve it only through acquisitions. At the same time, we could see an acquisition by Delhaize-Ahold, the owner of Mega Image,” a market source said.

Mega Image is one of the retailers with the fastest expansion in Romania. It owns 472 stores in the country and plans to spend €50mn to open up to 100 stores in 2016.

Retail sales in Romania have been boosted by VAT cuts and hikes in public sector wages and in the minimum salary. In February, retail sales rose 21.8% year-on-year. However, they are expected to ease in the second half of the year and again towards the end of the year on base effects.

Related Articles

EBRD, EIB lend €82mn to Moldova for key gas pipeline toward Romania

The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) will lend €41mn each and the European Union will add a €10mn grant to fund a pipeline to link ... more

NEPI, Rockcastle merger to create largest listed real estate player in CEE

South African New Europe Property Investments (NEPI) real estate investment fund, which is active and listed in Romania, announced on December 14 that it has concluded a framework agreement with ... more

Japan’s Asahi buys a huge round in Central Europe

Asahi has beaten a host of regional heavyweights in the race to buy SABMiller’s Central and Eastern European beer brands, the Japanese brewer announced on December 13. The Asian giant said it ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss