French Auchan gets green light to finalise real estate deal in Romania

Romania’s Competition Council recently approved French group Auchan’s takeover of 12 hypermarkets and commercial galleries in Romania, the largest real estate transaction in Romania in the last year, with an estimated value of EUR 260 million, Mediafax reports. The transaction was first announced in mid-2014, after Auchan reached an agreement with the owners of the 12 shopping centers which host hypermarkets operated by the French group. Most of these hypermarkets are former Real Hypermarkets which Auchan took over in 2013. The shopping galleries are located in Bucharest, Timisoara, Cluj-Napoca, Baia Mare, Oradea, Satu Mare, Galati, Ploiesti, Constanta and Pitesti. The total area of these properties is about 200,000 sqm and the tenants of these shopping centers generate EUR 400 to 500 million in sales each year. Auchan opened its 32nd hypermarket in Romania, in December 2014, which is located in Bucharest. The retailer will also open a new hypermarket in Brasov, in the Coresi shopping center. editor@romania-insider.com