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15th December, 2017

CBA’s Baldauf in talks with Spar

After selling the operation rights to seven prime shops of his grocery chain to German discount chain Lidl, CBA owner László Baldauf has started talks with hypermarket chain Spar about divesting further units, a source in retail circles told Portfolio.

CBA’s honorary chairman Baldauf would like to divest several of his shops in the countryside in blocks, but buyers prefer cherry-picking, because they are afraid of low purchasing power and high modernisation costs, the source added.

Baldauf turned 76 this year and has retired. He resigned as CBA’s chairman on January 1, 2016.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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