act Botezatu Estrade Partners (act legal Romania) assisted Louis Delhaize in the sale of Cora Romania to Carrefour following clearance by the Competition Council. The transaction, initially subject to approval by the Competition Authorities, has now received the green light, allowing all parties involved to raise a glass of champagne in celebration of the successful completion of this deal.
The act legal Romania team was led by M&A Partner Laura Estrade, Real Estate Partner Mihaela Poșircă, and Competition Partner Stefan Botezatu, with strong involvement and full dedication of Counsel Iustina Sima, Managing Associate Ruxandra Liștea, Senior Associate Andrei Petre, and Associate Lorena Samoilă.
“I had full confidence that act legal Romania team would successfully drive this deal to completion. After working together for such a long time, we couldn’t have expected any other outcome. ‘Forward-thinking’ is not just a strapline for them; it’s their essence. Thank you, everyone!” stated Olivier André, General Counsel of Louis Delhaize Group.
“I’ve heard a joke that said “Why did the lawyer’s computer go to therapy after closing a deal? Because it had too many attachment issues!” – while we’re not sending laptops to therapy, we have been genuinely attached to this deal, or more accurately, to our client. Our longstanding cooperation and the successful completion of this landmark transaction are things we’re extremely proud of!” shared Stefan Botezatu, Managing Partner.
About the transaction
Cora Romania, owned by the Louis Delhaize Group, comprises 10 hypermarkets, 9 cora Urban stores, and employs over 2,010 professionals. This sale represents a noteworthy development within the Romanian food retail landscape.
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 tenant. act legal Romania, as the longstanding legal counsel to Louis Delhaize for Romania, provided its assistance in all these strategic transactions.
About act Botezatu Estrade Partners (act legal Romania)
act legal Romania is the local office of act legal, an international law firm with a presence in 11 European capitals. act legal is a one-stop shop, providing a full range of cross-border legal services to companies and investors who intend to enter the continental European markets or are already present in the region.
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