Source: Novosti | Thursday, 01.01.1970.| 13:51
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"Delta" with its investments first to enter EU market - contract signed on takeover of Bulgarian "Piccadilly"

By purchasing 85% of property of "Piccadilly", leading Serbian trade company "Delta Maxi" became the majority owner of this retail chain, the largest trading network in Bulgaria.

Contract on takeover of "Piccadilly" supermarket chain, of which value is estimated to about 80m EUR, was signed yesterday (September 12, 2007) in Sofia. By taking over "Piccadilly", "Delta" became the first company from Serbia that entered market of European Union with its capital, because Bulgaria became rightful member of EU in January 2007.

The contract was signed in the presence of the first man of "Delta holding", Miroslav Mišković, and vice president of the company, Milka Forcan.

The plan is that "Piccadilly", along with "Delta" as the owner, becomes the largest retail chain in Bulgaria within next four years, by increasing its share to 20 or 25% of Bulgarian market. Within next two years, "Delta" will invest 70m EUR in the development of the new network, it will also have 20 retail facilities built and it will create 1,000 new jobs.

"Piccadilly" is a modern supermarket chain consisting of 11 supermarkets whose average surface is 3,000 square meters. Facilities are situated in Sofia, Varna, Burgas and Veliko Trnovo. It currently has market share of about 15%. With 1,700 employees, "Piccadilly" plans to have turnover of 110m EUR in 2007.
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