British retail group Tesco, with 73 billion euros in turnover,is in negotiations to enter the Romanian market by acquiring Realhypermarket chain, held by German group Metro, say marketsources.
According to the sources, the British are close to signing anagreement to take over the Romanian Real business, with thetakeover to be become official in two years' time.
In the interim, Real hypermarket chain needs to achieve a set oftargets, among which the opening of new stores and improving itsprofitability.
Real has 24 stores in Romania and posted a 760 million-euroturnover in 2009 (up 6%), while Carrefour posted 950 million eurosin 2009 and Kaufland a 870 million-euro turnover that sameyear.
Tesco recruited Andreea Lupea, former Chief Operating Officer ofReal this year. Tesco officials did not wish to comment. RudigerStahlschmidt, head of media relations at Metro AG, said: "We don'tplan to relinquish one or more Romanian-based stores in the Realchain to any rival."
The Real chain posted 57 million euros in losses in Romania lastyear, compared with 55.4 million euros in 2008.
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