Cora plans EUR 400 mln expansion of Romanian hypermarket chain with EBRD loan

Retailer Cora, owned by Louis Delhaize Group, will expand its network of hypermarkets in Romania with the use of a EUR 210 million loan the retailer could get from the European Bank for Reconstruction and Development (EBRD). Most of Cora's new hypermarkets will be opened in regional cities and will include sustainable energy solutions, according to the EBRD. The total expansion plan will reach EUR 397 million, EUR 210 million of which will be covered by this syndicated loan. The loan is pending final review and is set for the EBRD board decision on October 11 this year. Cora has recently said it will open a store of 12,500 sqm in AFI Palace Ploiesti shopping center, which will be opened by the end of 2012. Cora is currently present in Romania with six hypermarkets: Cora Pantelimon, Cora Lujerului, Cora Sun Plaza in Bucharest and Cora Cluj-Napoca, Cora Gold Plaza Baia Mare and Drobeta Turnu Severin in the country. Corina Saceanu, corina@romania-insider.com