The five stores are located in Bucharest (2), Fetesti, Focsani and Rovinari.
Besides the 173 Penny Market stores, Rewe also operates 8 XXL MegaDiscount stores in Romania.
The German group has recently said it will focus on Penny discount stores in Romania after it agreed to sell supermarket chain Billa Romania to Carrefour.
Carrefour said Tuesday it signed an agreement with Rewe for the acquisition of supermarket chain Billa Romania, thus becoming the leading supermarket operator in Romania. The transaction is subject to antitrust clearance.