The Agency for Privatization of Serbia announced that the offer of legal entity Lion Retail Holding from Luxembourg for the acquisition of Belgrade’s trading company C market has ben accepted.
Luxembourg company, behind which is Belgium Delhaize, as confirmed for the Beta agency, committed to pay EUR 11, 816 m in cash for 16,26% of capital at C market which was the initial price. Contract on sale of the remaining social capital at C market will be signed after positive opinion of the Directorate for money laundering prevention.
The Agency for Privatization is selling 70% of social capital at C market which is 16,3% shares and the remaining social capital will be divided between current and former employees.
So far, sale of the remaining share at C market has been announced but the process was halted due to legal obstacles. Delhaize was the only interested buyer.
In late 2011, Belgium Delhaize 2011 bought from Miskovic Delta Maxi which comprises C market, for EUR 932,5 m, including net debt of EUR 318 m.