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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Louis Delhaize sells premises of RO hypermarkets Cora under sale-and-lease-back deal

Louis Delhaize retail chain, active in France, Belgium and Luxembourg said it reached an agreement to sell its real estate portfolio in Romania under a sell-and-lease-back agreement. It has been operating in Romania since 2003 through hypermarket-type formats under the brand Cora.

The buyer of the six hypermarkets is the Austrian Supernova group.

The confidential value of the deal is estimated by Profit.ro at EUR 150 mln.

Supernova will also invest EUR 40 mln in the renovation and extension of the shopping centers within three to five years.

Louis Delhaize will maintain all commercial operations of Cora hypermarkets in the country.

The business of the Cora Romania chain has been declining for the past three years, despite the market’s dynamics. Cora chain ranks 11th in the top of the largest retailers in terms of turnover in 2020, after Penny, Selgros and Artima (part of the Carrefour group).

Supernova started as a developer of retail assets and turned into an institutional investor whose strategy is to acquire and keep assets in the portfolio. It currently operates 77 shopping centers in Austria, Slovenia, Croatia and Romania, with a portfolio value of EUR 1.7 bln.

(Photo: Ogella | Dreamstime.com)

andrei@romania-insider.com

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Louis Delhaize sells premises of RO hypermarkets Cora under sale-and-lease-back deal

Louis Delhaize retail chain, active in France, Belgium and Luxembourg said it reached an agreement to sell its real estate portfolio in Romania under a sell-and-lease-back agreement. It has been operating in Romania since 2003 through hypermarket-type formats under the brand Cora.

The buyer of the six hypermarkets is the Austrian Supernova group.

The confidential value of the deal is estimated by Profit.ro at EUR 150 mln.

Supernova will also invest EUR 40 mln in the renovation and extension of the shopping centers within three to five years.

Louis Delhaize will maintain all commercial operations of Cora hypermarkets in the country.

The business of the Cora Romania chain has been declining for the past three years, despite the market’s dynamics. Cora chain ranks 11th in the top of the largest retailers in terms of turnover in 2020, after Penny, Selgros and Artima (part of the Carrefour group).

Supernova started as a developer of retail assets and turned into an institutional investor whose strategy is to acquire and keep assets in the portfolio. It currently operates 77 shopping centers in Austria, Slovenia, Croatia and Romania, with a portfolio value of EUR 1.7 bln.

(Photo: Ogella | Dreamstime.com)

andrei@romania-insider.com

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