Tengelmann reportedly to sell Plus discount stores from Romania, Bulgaria.

By bne IntelliNews January 8, 2010
The German retailer Tengelmann is reportedly in talks to sell its discount retail chains in Romania and Bulgaria (with 94 and 16 stores, respectively) to Lidl, another German discounter that is part of Schwarz retail group.  Tengelmann confirmed while Lidl refused to comment. Lidl got the construction permits for opening its first store in Romania and plans a similar move this year in Bulgaria . The chain reported EUR 350mn-400mn sales last year (from EUR 277mn in 2008), according to estimates of Ziarul Financiar daily. Another bidder, at least for the Romanian chain Plus, is Delhaize retailer from Belgium which is already operating the Mega Image supermarkets in the country and also plans expansion, local media reported. Delhaize also mulls buying the Profi retail chain that was eventually purchased by investment fund Enterprise Investors for EUR 66mn.

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