BUCHAREST (Romania), April 12 (SeeNews) - Romanian investment vehicle Paval Holding is acquiring a 30% stake in personal care and pharmaceutical products retailer Tei Group for an undisclosed sum, deal advisor Clifford Chance Badea said on Tuesday.
The deal is pending approval from the anti-trust body, Clifford Chance Badea said in a statement.
Paval Holding is acquiring 30% of Tei Group's core assets - Farmacia Tei pharmacy chain and Bebe Tei childcare products stores.
The two chains employed 922 at the end of 2020, according to data available on the finance ministry's website.
Currently, Bebe Tei stores sell over 20,000 products, while the Farmacia Tei portfolio contains over 50,000 products.
Paval Holding is an investment vehicle controlled by Romanian entrepreneurs Dragos and Adrian Paval, founders of DIY retailer Dedeman.
The two ranked second among top 300 wealthiest people in Romania in a 2021 ranking compiled by Romanian magazine Capital, with an estimated fortune of about 3.2 billion euro ($3.48 billion).
Dedeman SRL is among the biggest companies in SEE, for more reference take a look at Top 100 companies