Carrefour Romania, the biggest player on the hypermarket market, with 1.02bn-euro turnover in 2009, has approved the signing of a 60m-euro borrowing contract from the Dutch subsidiary, with this as the fourth significant capital injection in the Romanian subsidiary in the past four years.
According to existing information, Carrefour Romania in 2006-2009 borrowed around 300m euros from the Dutch subsidiary, so that the French group funded its expansion both through banking and intra-group loans.
Carrefour representatives had not specified the destination of the money raised through the 60m-euro loan by edition close.
A possibility would be for the expansion process to be resumed. Carrefour now has the most cautious development strategy on the hypermarket segment, having announced only one opening for next year, in Colosseum shopping centre of Bucharest.
Three of its rivals, Cora, Auchan and Kaufland, are currently taking advantage of the falling prices for land and declining rents in shopping centres and are signing contracts after contracts to gain market share. Carrefour is part of a group with almost 100bn-euro turnover in 2009, which means access to rapid and cheap funding sources.
Carrefour Romania, the biggest player on the hypermarket market, with 1.02bn-euro turnover in 2009, has approved the signing of a 60m-euro borrowing contract from the Dutch subsidiary, with this as the fourth significant capital injection in the Romanian subsidiary in the past four years.
According to existing information, Carrefour Romania in 2006-2009 borrowed around 300m euros from the Dutch subsidiary, so that the French group funded its expansion both through banking and intra-group loans.
Carrefour representatives had not specified the destination of the money raised through the 60m-euro loan by
