Lidl increases share capital by 10m euros to around 26.5m euros

Lidl Romania SCS retailer has raised its share capital by 10m euros, to around 26.5 million euros (90m RON), through a contribution in cash by its main associate, Germany’s WE-Beteiligungs. In the wake of the capital increase, the German firm now owns just above five million shares, with a face value of 18 RON, which accounts for almost 100% in the company’s share capital, while Lidl Romania SRL owns a single share, according to a company statement published in the Official Gazette. The first signs that German group of discount stores plans to expand on the Romanian market emerged early last year, but in May 2006 the retailer decided to postpone its plans and resume them in 2007. The retail group plans to invest 150m euros in Romania and open 100 stores by 2011, according to Mediafax. Lidl & Schwarz group has been present in Romania since 2005 through Kaufland hypermarket network, which includes 30 stores throughout the country.