Poland sets conditions for Auchan's Real takeover
PR dla Zagranicy
Nick Hodge
21.01.2014 14:06
Poland's anti-monopoly office has insisted that French chain Auchan must sell off eight Real stores if its takeover of the German-owned hypermarket network is to be approved.
Real store, Poznan: photo - PAP/Jakub Kaczmarczyk
In 2012, Auchan agreed to buy 54 Real hypermarkets in Poland, together with 37 other branches of the chain across Central Europe, in a 1.1 billion euro deal.
Poland's Office of Competition and Consumer Protection (UOKiK) has concluded that the deal could squeeze out rival businesses in Bialystok, Bielsko-Biala, Czeladz, Legnica, Rzeszow, Szczecin, Walbrzych and Sosnowiec, where branches of both Auchan and Real are currently trading.
“In accordance with the decision, Auchan Polska must give up the rights to eight Real hypermarkets,” UOKiK head Małgorzata Krasnodebska-Tomkiel confirmed in a statement on Tuesday.
“This must take place within 18 months of the transaction being finalised by Auchan,” she said.
The buyer of the outstanding eight hypermarkets must also be approved by UOKiK, with the new owner guaranteeing that the stores will continue their commercial operations. (nh)
Source: PAP