Oct 23, 2023

by Property Forum | Investment Negotiations with Indotek Group have resulted in the sale of 100% of the Hungarian activities of Nhood Services and Ceetrus Hungary to the Hungarian investment group, Nhood Hungary announced. It also confirmed that with this transaction Indotek has acquired a 47% stake in Auchan's Hungarian retail operations. Auchan has an extensive Hungarian network of 19 hypermarkets, 5 supermarkets, and 18 petrol stations. Based on a strategic review of the real estate market and the local economic environment, Nhood has reviewed its position regarding its deployment in Hungary. The negotiations that began several months ago have now resulted in Indotek Group taking a 100% stake in Ceetrus Hungary Kft. and Nhood Services Hungary Kft. This transaction also entails the acquisition of all retail units located in the shopping galleries of Auchan hypermarkets. "Indotek Group appears to be the best partner to take over our activities. The agreement and the change of shareholders were also designed to safeguard the best interests of the employees and all stakeholders. I'm convinced that this agreement with Indotek will give new impetus for the business in Hungary, in the best possible conditions regarding the local context, with opportunities for the employees who will be able to continue to grow and flourish," Pascal Steens, General Manager of Nhood Hungary said in a statement. Dániel Jellinek, CEO of Indotek Group, commented on the deal, noting, “This alliance with Auchan is a milestone, both locally and by European standards. It underscores the growing trend of national and international retailers partnering in Central Europe, with our collaboration with Auchan setting a benchmark in Hungary.” The agreement will take effect once it has been approved by the competition authorities, which is expected to be no later than 31 December 2023. New leases A Homla brand shop of 300 sqm has been opened in the Westfield Arkadia shopping centre in Warsaw. Customers can also once again enjoy the offer of the refreshed Samsung Brand Store and Okaïdi stores. BBK S.A., owner of the home&you brand, will open a new office in the Alpha building, the first stage of the Airport City Gdańsk complex. The company signed a lease for more than 3,600 sqm of space in the development owned by Airport City Gdańsk. The transaction was facilitated by JLL Polska, the exclusive agent representing the office building. IT infrastructure provider Medialine has relocated its HQ in One Cotroceni Park, located in Bucharest. The lease contract runs for the next eight years. New appointments Joanna Sinkiewicz has joined Accolade Group as Group Commercial Director. Prior to that, she worked at CBRE from 2022 as Head of Industrial & Logistics CEE. Marcin Adamczyk has been appointed Vice President of Vinci of the BGK Group. He will be co-responsible for the development and investments related to the operation of the Da Gama ASI fund, one of the three entities that are part of the BGK subsidiary, in addition to IQ ASI and HiTech ASI. In September, Arkadiusz Borowiecki joined the Reesco Group, which designs and redevelops commercial buildings, taking up the position of director of the Pomeranian region. Latest news