Investors line up to buy Romanian supermarket chain Profi

profiUS 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, according to Romania-Insider.com.

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.

 

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