Dedeman attracts 45m-euro loans for expansion

Dedeman, Bacau-based distributor of construction materials, controlled by businessmen Dragos and Adrian Paval, will conduct one of the year’s most aggressive expansion campaigns, after it secured loans in order it to tap into cities in the South of Romania, such as Craiova and Bucharest. Dedeman has signed loan contracts worth 45 million euros with ABN Amro Bank and UniCredit Tiriac Bank to open four new shopping centres and build new headquarters in Bacau. In fact, the company contracted another 15 million-euro credit from ABN Amro in 2006. “These credits help us achieve the long-term objectives of the Dedeman group. Our partnerships with the local branches of the banking institutions have endured, which we hope will continue in the future,” Dragos Paval, chairman of the Dedeman group, told ZF. The company will expand its current network, which comprises ten shopping centres, by another four stores in Botosani, Constanta, Bucharest and Craiova, in which it will invest 35 million euros.