French take over 100% of Auchan

Auchan retailer opens the way for transactions this year in Romania, after taking over a 51% stake in the operator of the local Auchan hypermarket network from 11 individual investors, with indirect stakes in the company. The 51% stake in MGV Distri-Hiper SA, operator of Auchan Romania, has been valued at 40 million euros, market sources told ZF. This is the second-largest deal in Romanian retail after the acquisition of Artima supermarkets by Carrefour, in 2007, for 55 million euros. Amid a sales value put at 250 million euros in 2008, the estimated 80 million euros of the Auchan business in Romania account for 0.32 of the turnover, significantly lower than the last deal concluded in this sector – Artima’s takeover by Carrefour, which occurred in autumn of 2007. MGV Distri-Hiper SA currently operates six hypermarkets and one supermarket.