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.