Belgian retail group Louis Delhaize has reached a sale-leaseback agreement with the Austrian group Supernova regarding its real estate portfolio in Romania. Louis Delhaize has been operational in Romania under the Cora brand since 2003 and will continue to do so after the transaction.
Cora hypermarkets
Supernova buys the six Cora hypermarkets and the adjacent shopping centres in Romania, but the hypermarket chain will remain operational in the country. The value of the transaction remained undisclosed.
Supernova will invest at least 40 million euros in renovating and expanding the shopping centres over the coming years. This should make them even more attractive in the future, CEO Frank Philipp Albert believes. “This sale-leaseback operation is the beginning of a new chapter in Cora’s retail activities, as it gives us the opportunity to focus on the development of our business activities”, Thierry Destailleur, CEO of Cora Romania, said in a press release. “We have made this decision following a careful evaluation of the group’s real estate assets in Romania, and we see this as an important benefit for future local development.”
Supernova is an Austrian company dedicated to developing and managing commercial real estate in Austria, Slovenia, Croatia, and Romania.
