The money came in three tranches, the last of which in October. It got EUR108.5 million last month, the biggest capital increase (in a single tranche) of a local company this year, ZF has found from the Trade Registry data.
Auchan representatives did not say what they would use the money for but judging from the information ZF has, it might go to Real, following the deal sealed between the two companies, and to rebranding the 20 hypermarkets Auchan bought from Real.
The money Auchan got is a “breath of fresh air” for investments in the country, considering they reached all-time lows in the last few years. Foreign direct investment stood at EUR1.5 billion in the first nine months of 2013, down about 10% year-on-year. Foreign direct investment stood at EUR10 billion in 2008, the best year for Romania’s economy, almost five times last year’s level.
(English version by Loredana Fratila-Cristescu)