IGD buys remaining 10% of Winmarkt chain
Italian group Immobiliare Grande Distribuzione (IGD), which owns 90 percent of the Winmarkt shopping center chain in Romania, has agreed to take over the remaining 10 percent of the chain, for EUR 21 million, according to the firm. IGD bought the share package from Investitori & Partner Immobiliari. The deal should be closed after the end of April.
IGD had signed the option to buy the rest of the shares in 2008, when it bought the majority participation in the chain for EUR 182.5 million, from American investment fund Broadhurst.
The Winmarkt stores chain includes 15 units in various Romanian cities, among which Cluj – Napoca, Turda, Piatra Neamt, Vaslui, Ramnicu Valcea and Slatina. These were former universal stores during the communist period, which were revamped and rebranded.