May 20 (SeeNews) - Retailer Spar Hrvatska is currently in talks to take over 20 stores from local peer Diona, a source familiar with the matter said on Tuesday.
In order for the deal to be concluded, a nod needs to be secured from the country's anti-trust regulator, AZTN, the source told SeeNews on condition of anonymity.
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Also on Tuesday, news daily Poslovni Dnevnik quoted unnamed sources close to Spar's management as saying the retailer expects to get anti-trust clearance in early June and that it targets the acquisition of Diona stores ranging in size from 250 square metres (sq m) to 900 sq m, mostly in top locations in Zagreb.
With the acquisition, Spar could increase its market share in Zagreb, becoming the second-largest grocer there, Poslovni said, adding that the addition of the new retail units could boost Spar's annual revenues in Croatia by 400 million kuna ($71.9 million/52.5 million euro).
Austria's Spar entered the Croatian market in 2005. The retailer currently operates 16 INTERSPAR hypermarkets and 11 SPAR supermarkets across the country, data from its website showed.
(1 euro=7.6187 Croatian kuna)