Dentons assisted a consortium of banks—Erste Group Bank, Raiffeisen Bank International, Raiffeisen Bank Romania and Banca Comercială Română in financing the acquisition by Supernova Group of six prime shopping centers operating under Cora brand name from the Louis Delhaize Group. The transaction was one of the largest acquisition financings in Romania in 2021, and the largest in the retail sector.
Dentons assisted the consortium of banks in a complex sale and lease-back transaction to partially finance the acquisition of the real estate assets with a total lettable area of approximately 140,000 sqm. The financing will also be used to partially fund the refurbishment and extension of the retail assets, planned to be completed in the next few years. Following this transaction, Louis Delhaize will continue to operate the six Cora hypermarkets as an anchor tenant.
