Equest Investments Balkans yesterday completed the acquisition of a 75 percent stake in Domo through its branch Lynx Property. The investment fund paid 62.5 million euros for the shares. Some 30 million euros were paid in cash while the rest came from a loan taken from Raiffeisen Zentralbank Osterreich.
Lynx Property reached an agreement with the co-founding members of Domo for a possible take over of the remaining 25 percent. Domo consists of a 114-store chain and some 11 stores will be opened this year. Domo opened stores in Bulgaria and has more than 1,050 employees.
Domo reported 122 million euros in revenues last year. The retailer estimates for this year total revenues of 180 million euros, following a boom in first-half sales. Domo runs 114 units and some 11 stores will be added by the end of the year.
Source: Newsin
