Banca Transilvania grants “largest financing in its history” to Pavăl Holding for Carrefour Romania acquisition

Romanian lender Banca Transilvania said it granted the “largest financing in its history and in the local bilateral financing market” to Pavăl Holding for the acquisition of Carrefour’s local operations.

The value of the financing was not disclosed.

Upon announcing the sale earlier this year, Carrefour said the transaction was based on an enterprise value of EUR 823 million.

Market sources quoted by Ziarul Financiar put the value of the financing received by Pavăl Holding at approximately EUR 400 million.

In a June 30 announcement on Euronext, the Paris Stock Exchange, the French retailer said the sale of its Romanian operations was completed. It also said the completion of the transaction will result in the group paying an exceptional dividend of EUR 150 million, representing EUR 0.21 per share, on July 30, 2026.

Last month, Romania’s Competition Council approved the transaction through which Pavăl Holding takes over the local operations of Carrefour.

The French retailer operated locally hypermarkets (Carrefour), supermarkets (Carrefour Market), convenience stores (Carrefour Express), and discount stores (Supeco). Its multi-format network covered 478 stores in February of this year: 55 hypermarkets, 191 supermarkets, 202 convenience stores, and 30 discount stores.

Pavǎl Holding is the investment vehicle of the Pavǎl family, the owners of DIY retailer Dedeman. It is active in retail, real estate, industry, agriculture, energy, services, and tourism. Dedeman, founded in 1992, operates 65 stores and five logistics centers across Romania.

(Photo source: Banca Transilvania)