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Closing: Louis Delhaize Sale of Cora Romanian Operations to Carrefour Group Now Closed

Closing: Louis Delhaize Sale of Cora Romanian Operations to Carrefour Group Now Closed

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On November 2, 2023, Act Botezatu Estrade Partners announced that Louis Delhaize’s sale of Cora's Romanian operations to the Carrefour Group (as reported by CEE Legal Matters on May 8, 2023) had closed.

According to Act Botezatu Estrade Partners, “Louis Delhaize’s exit from the Romanian market follows the sale and leaseback of seven Cora commercial centers in late 2021 and early 2022, transactions by which Cora sold its real estate properties and continued as a tenant.”

The 2023 transaction involved the sale of ten Cora hypermarkets and eight Cora Urban stores. As previously reported, Act Botezatu Estrade Partners advised Louis Delhaize. Tuca Zbarcea & Asociatii advised Carrefour.

The Louis Delhaize Group is a Belgian retail group established in 1875. It operates food supermarkets and hypermarkets in Belgium, France, Luxembourg, and (formerly) Romania.

The Act Botezatu Estrade Partners team included Partners Laura Estrade, Mihaela Posirca, and Stefan Botezatu, Counsels Andrei Muresan and Iustina Sima, Managing Associate Ruxandra Listea, Senior Associate Andrei Petre, and Associate Lorena Samoila.

The Tuca Zbarcea & Asociatii team included Partners Razvan Gheorghiu-Testa, Horia Ispas, and Raluca Vasilache and Managing Associates Veronica Aman and Dana Barbu.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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