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Competition Council gives green light for Carrefour's takeover of Artima

Publicat la 29.01.2008, 11:32:00

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Competition Council gives green light for Carrefour's takeover of Artima

Carrefour purchased Artima late last year, for €55 million, allowing the group to expand to several areas of Romania and enter the supermarket segment.

The acquisition is part of Carrefour's strategy to strengthen its position on emerging markets.

Artima has 21 supermarkets, most of them located in Western Romania, with a sales area totaling 21,000 square meters. Net sales amounted to €89.25 mln in 2006 and some €122.4 million in turnover in 2007.

Carrefour Romania posted €866 mln in turnover in 2007, 42.2 percent higher year-on-year.

 

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