Antitrust authorities in the Czech Republic have approved the €255m acquisition of the Plus chain of discount stores by German retailer Rewe, on the proviso that the group sell four outlets from its national portfolio.
The Czech anti-monopoly office (UOHS) concluded that the move would result in a high concentration of Rewe stores in four districts of the country, according to Czech news agency CTK, meaning the group would have to sell one outlet in each of these districts. The districts were not named by the UOHS.
"The UOHA made a thorough analysis of local markets," spokesman Kristian Chalupa told CTK. "The results showed that the concerned merger would lead to a high concentration of local retail markets in four different districts."
Rewe will add 150 Plus stores to the 181 Billa and 171 Penny Market outlets that it already owns in the Czech Republic.
With the purchase of Plus, Rewe has become the second largest retailer in the Czech market (in terms of sales), with only Schwarz Group, which owns Kaufland and Lidl in the country, enjoying higher sales.