Company "Delta Maxi" announced today (September 7, 2009) that it had bought 15% of capital of Bulgarian market chain "Piccadilly" and, thus, become the sole owner of that company.
According to the announcement, "Delta Maxi" has invested 70m EUR in development of market chain "Piccadilly" since it took over 85% of the company in 2007, and it plans to invest another 150m EUR. The deadline for realization of that investment is not specified.
By the way, company "Delta Maxi", a member of "Delta" holding, promised to buy remaining 15% of the company within the next two years when it was taking over the majority share in "Piccadilly" in 2007.
Market chain "Piccadilly" comprises 20 supermarkets at average surface of about 4,000 square meters in about 10 cities all around Bulgaria.