Following the announcement last November that Spanish retailer Dia was seeking to takeover 160 Eroski outlets, today, the CNMV, the Spanish competition watchdog, announced that has given its approval to the deal.
However, instead of 160 stores, the retailer is only taking over 144 stores for the time being.
The deal is costing Dia €135 million instead of the previously proposed €146 million.
Dia explained to Spanish newspaper Cinco Dias that after several reevaluations, the 144 stores appeared to be the most suitable for the retailer's operations.
However, the retail group reserves itself the option of expanding at a later date and eventually acquiring the remaining stores.
According to Cinco Dias, Dia will carry out the process of adapting the Eroski stores gradually over the next four months.
The 144 acquired stores include Eroski Center, Eroski City and Capabro stores, with the majority of stores being located in the Madrid area.
© 2015 European Supermarket Magazine – your source for the latest retail news