French-Belgian food retailer Louis Delhaize is expanding its Cora hypermarkets chain in central and eastern Europe with the help of a €
50mn loan from the EBRD, the region’s largest investor, and RZB. The deal comes just seven months after the company borrowed €
160mn from both institutions to further expand Cora hypermarkets in Hungary.
The latest loan, of which the EBRD will take up to €
40mn on its own books, and RZB €
10mn, will help Louis Delhaize build five new Cora hypermarkets across Romania. Just last year the company opened its first store in Bucharest, the capital. Future plans include two additional stores in the city, and two further stores beyond the capital, in a project with an estimated cost of €