Tengelmann holds on to Plus Discount network

German group Tengelmann has decided to keep its operations on the Romanian discount store market, after it examined the possibility of selling the Plus Discount network for six months. At the beginning of this year, Plus Discount separated its retail operations from real estate management on the local market, and set up a new company, Pludi Market. Following the restructuring, Plus Discount SCS, which was created when Plus network first entered the market, is the real estate division of the local subsidiary. Last year, the Germans rethought their operating strategy on the discount stores market, a very competitive segment in countries where retail has reached maturity, such as Germany and Spain. After selling its 247 Plus stores in Spain to its rival Carrefour, Tengelmann closed a joint venture with German-based retailer Edeka, through which the two retailers will reach cumulated business worth 11 billion euros on the discount segment.