South-African group Steinhoff, which owns the furniture retailer kika, also present in Romania, recently acquired a majority stake in Extreme Digital, romania-insider.com reports. The transaction is on hold for final approval to be issued by the Hungarian competition authority, Economica.net reports, cited by the source.
The sum invested by the South-African investor in this deal will finance the company’s expansion in Romania, Czech Republic, Slovakia, and Croatia, according to the retailer’s executive director Balazs Varkonyi. Extreme Digital is the biggest competitor for Romanian online retailer eMAG in the Hungarian market.
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