* The deal was made through the Dutch vehicle of the company, which operates its Romanian hypermarkets
* The Belgians paid 54 million lei for 40,000 sqm (EUR 325/sqm)
Belgian group "Delhaize", which operates the "Cora" hypermarket chain in Romanian, yesterday acquired the assets located in the Civic Center of the city of Braşov, which previously belonged to "Hidromecanica".
The 40,000 sqm plot of land and the buildings located on top of it, was sold for 54,080,000 lei, (around EUR 13 million), with the auction being held by the "Medium-sized Taxpayers" division of the Brașov tax administration.
Lucian Voinescu, the head of the General Department of Public Finance of Braşov, says this is the largest foreclosure performed by the tax department of Brașov, with the auctioning off of the assets of "Romradiatoare" for six million Euros five years ago coming in second. Yesterday"s deal was concluded at a price of EUR 325/sqm, whereas before the crisis, land in the same area would sell for EUR 1,000/sqm.
"Provera Rom", which was involved in the transaction, is held by a Dutch company registered in Rotterdam, "Delparro" BV, managed by the same person that helms "România Hypermarche". Moreover, the Dutch vehicle "Delparro", has also acquired control of the "Cora" hypermarket business, a few months ago, from Belgian group "Delhaize", which has direct ownership of the "Profi" and "Mega Image" supermarket chains, as well as other real estate businesses in Cluj and Bucureşti.
The debts of "Hidromecanica" had increased 95.8% at the end of the 2009 fiscal year, to 122.522 million lei, mostly due to the fact the outstanding debt increased after the decree which stipulated that the interest and penalties would be cancelled provided the new owner would pay off the principal. Given the circumstances, even after the sale, the company will only be ab
