Investors line up to buy Romanian supermarket chain Profi

US investment fund CVC Capital, which recently sold the Formula 1 business for EUR 4.5 billion, is interested in taking over Romanian retail chain Profi, owned by the Polish investment fund Enterprise Investors. Other investors interested in acquiring the network include the Polish group Biedronka, a Turkish group, as well as a group from the Baltic region, according to market sources cited by local Ziarul Financiar. In May this year, Enterprise Investors has mandated Citi Corporate and Investment Banking to assess the market conditions and the possible scenarios for the company’s development. Citi is waiting for non-binding offers until the end of September. The company offers should be submitted by the end of the year. The deal is expected to be completed in the first part of 2017. The Polish fund expects to get about EUR 450-500 million for Profi. The retailer could reach a turnover of EUR 780 million this year, up from EUR 573 million in 2015, according to its own estimates. Profi had 439 supermarkets in 212 towns in Romania and over 10,000 employees at the end of August this year. editor@romania-insider.com