Proceeds from selling retailer Maxi should be reinvested in Serbia - PM.

By bne IntelliNews February 25, 2011
The proceeds from the sale of retail chain Maxi, the retail arm of local diversified Delta Holding, should be reinvested in the Serbian economy, PM Mirko Cvetkovic said as cited by emportal.rs. As reported earlier, Belgiums Delhaize is interested in taking over Maxi and the talks on the sale should be wrapped up soon. The PM expressed hope that the sale of Maxi would have a beneficial effect on the economy as part of proceeds will be used to repay liabilities to suppliers. Founded in 1991, Delta Holding is Serbia's largest private company. It employs over 24,000 and has subsidiaries in Serbia, Bosnia and Herzegovina, Montenegro, Albania, Bulgaria and Slovenia. Delta Holding also has a fruit and vegetable distribution center in Russia. Delta Maxi Group, which is part of Delta Holding, runs the Maxi and Tempo retail stores in Serbia. Delta Maxi Group operates in Serbia, Montenegro and Bosnia and Herzegovina. In 2007 Delta Maxi Group acquired Bulgarian retail chain Piccadilly.

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