Belgian retailer Delhaize Group has agreed to buy Delta Maxi Group, Serbia’s largest retail chain, from Miroslav Miskovic’s Delta Holding for €932.5m including debt.
Jankovic Popovic & Mitic, CHSH Cerha Hempel Spiegelfeld Hlawati’s cooperation partner in Serbia, advised Delta Holding on the transaction, Serbia’s largest in five years. CMS in Brussels, London and Belgrade, with assistance from local CMS offices advised the Delhaize Group.
Delta Maxi operates 450 stores across Serbia, Montenegro, Bosnia, Albania and Bulgaria and is Serbia’s largest private employer. Analysts predict 5-6% growth a year for the next four years.