Bosnian retail chain Bingo has denied local press reports that it will be sold to German discounter Lidl.
In a statement, Bingo said that there have been no contacts with Lidl, nor have any negotiations taken place regarding the purchase or sale of its activities.
According a report in daily Nezavisne Novine, Lidl was allegedly planning to enter the market of Bosnia and Herzegovina in 2016.
Lidl is already present in neighbouring Croatia, and it is currently in the process of purchasing land in Serbia, with the intention of starting operations in 2016 or 2017.
Bingo is currently the second-biggest retailer in Bosnia and Herzegovina, after the merged company Konzum/Mercator. It has over 160 stores in the country, and last year expanded its market share by purchasing the local operations of French retailer Intermarché.
Earlier this year, the EBRD said that it was providing up to €21 million to support Bingo’s further expansion, including the acquisition of smaller competitors.
© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.