"Delta Maxi" to buy another two supermarkets from German market chain "Hit" in Bulgaria - investments in real estate construction in pipeline

Company "Delta Maxi” negotiates about procurement of two supermarkets from German market chain "Hit" in Sofia, the capital of Bulgaria. This has been confirmed to Bulgarian media by General Manager of "Delta Maxi" Dragan Filipović.

Filipović expects that negotiations with "Hit" will be finished by the end of the year. If the negotiations end in success, supermarkets "Hit" will change their name into "Tempo".

In case it sells the two outlets in Sofia, company "Hit" will become the second market chain to leave Bulgarian market. The first one was Turkish "Ramstore".

Let us remind that "Delta" signed contract in September on takeover of 85% of capital of the second largest Bulgarian market chain "Piccadilly", of which value was estimated to 80m EUR. On that occasion, Dragan Filipović said that that was the first time that some company from Serbia entered the market of European Union with capital.

According to his words, "Delta" will invest 70m EUR in construction of 20 new retail facilities of "Piccadilly" chain within next two years, and it will employ 1,000 workers. The plan is that "Piccadilly" becomes the largest retail chain in Bulgaria within next four years, with market share of 20-25%.

Filipović announced that the greenfield investments in construction of hypermarkets and trade centers in Bulgaria were in the pipeline and he added that "Delta holding" planned to expand its operations on Bulgarian market by investing in real estate construction.

Also, "Delta" plans to invest 2.25 billion EUR in construction of facilities in Croatia, Bosnia and Herzegovina, Serbia, Macedonia and Albania between year 2006 and 2012. Total surface of the facilities that will be built in the region will be 2.415m square meters.