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Act Botezatu Estrade Partners and Tuca Zbarcea & Asociatii Advise on Louis Delhaize Sale of Cora Romanian Operations to Carrefour Group

Act Botezatu Estrade Partners and Tuca Zbarcea & Asociatii Advise on Louis Delhaize Sale of Cora Romanian Operations to Carrefour Group

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Act Botezatu Estrade Partners has advised Louis Delhaize on the sale of its Romanian Cora operations – including ten Cora hypermarkets and eight Cora Urban stores – to the Carrefour Group. Tuca Zbarcea & Asociatii advised Carrefour.

The transaction remains contingent on regulatory approval.

Louis Delhaize, a Franco-Belgian Group, is the owner of the Cora retailer in Romania. According to Tuca Zbarcea & Asociatii, “once the transaction is cleared by the relevant authorities, Carrefour will take over ten Cora hypermarkets and eight Cora Urban stores, and nearly 2,400 employees in what is considered to be Romania’s most significant transaction in the retail sector in recent years.” 

According to Act Botezatu Estrade Partners, “Cora’s exit from the Romanian market comes after the sale-and-leaseback of seven Cora commercial centers located in Romania at the end of 2021 and early 2022, transactions by which Cora sold its real estate properties and continued its operations as a tenant.”

The Act Botezatu Estrade Partners team included Partners Laura Estrade, Mihaela Posirca, and Stefan Botezatu, Counsels Andrei Muresan and Iustina Sima, Managing Associate Ruxandra Listea, Senior Associate Andrei Petre, and Associate Lorena Samoila.

The Tuca Zbarcea & Asociatii team included Partners Razvan Gheorghiu-Testa, Horia Ispas, and Raluca Vasilache and Managing Associates Veronica Aman and Dana Barbu.

Tuca Zbarcea & Asociatii at a Glance

Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

Firm's website.