March 27, 2013
Balfin group sells Euromax supermarket chain

Realized stock transfer agreement to Marinopulos

Balfin Group, one of the largest private owned companies in Albania, finalized today the sale of the 100% of shares of the largest supermarket chain in the country, Euromax. From this agreement Marinopulos Group will get the ownership and the management over 23 supermarkets of Euromax chain. Marinopulos is present in the Albanian market with its supermarket Carrefour in the commercial center TEG. After the agreement between two groups it is the Competition Authority that has to approve this agreement.

Balfin Group considers important this passage of shares because it was achieved in a very short time, since Euromax was bought from the Belgian Delhaize in 2012, to evolve the supermarket chain qualitatively, increasing the number of customers and sales. This kind of transaction is in harmony with the philosophy of the group, investing in various areas of economy and being always active. In this context, such operations are typical for Balfin Group, as one of the biggest companies in Albania and one of the most important in the region. In all its investment operations Balfin Group is accompanied by success stories that preceded further developments in the Albanian economy and the region.

The acquirement of Euromax from Marinopulos Group will not affect the staff that actually works in the supermarket chain. This has been one of the conditions set by Balfin Group during the implementation of the shares transfer. All the respective measures have been taken to assure that the consumers of Euromax will not be affected from this change of ownership of the supermarket chain. Balfin Group applies strict policies in terms of attention towards its employees, partners or clients.

The Balfin Finance Investment Group is the holding company for Balfin’s operating companies. Founded in 1993, Balfin Group is one of the largest privately owned companies in Albania. The activity of Balfin Group is focused in real estate development, retail activities and the mining industry.