„The deal was signed after a bidding process, with the current buyer offering a higher price than the company that had previously signed a pre-sale agreement. We are glad to have fostered this competitive sale process that maximized the sale value of the assets and as such the creditors’ recovery”, stated Sorin Vlad, Senior Manager, PwC Romania.
In December 2013 another PIC hypermarket from Oradea was sold to the Maltese group Alf Mizzi & sons Ltd.
„We are currently focusing on the sale of the other three former PIC hypermarkets. We see that the stores raise interest from both important local investors as well as international companies not present on the Romanian market. However, we haven’t yet reached an acceptable financial agreement for the other hypermarkets. We are nonetheless confident that we will soon sign new deals in this project”, stated Cristian Ravasila, Senior Manager, Business Recovery Services Team Leader, PwC Romania.
PIC SA entered bankruptcy in 2012 and still owns three hypermarkets in Braila, Calarasi and Craiova.