Romania’s Patriciu in Talks to Sell Mic.ro to 7-Eleven, ZF Says
Romanian businessman Dinu Patriciu is in talks with Seven & I Holdings Co., which owns the 7-Eleven convenience-store franchise, to sell his Mic.ro chain, Ziarul Financiar reported today, citing unidentified people in the retail business.
The talks began last autumn and may to be completed in March; Patriciu seeks to sell Mic.ro, which has overdue debts, to suppliers and banks, the Bucharest-based newspaper said.
The talks are focused on possible provision of 60 million euros ($78 million) of fresh capital for the chain, which Patriciu owns through a company called Mercadia Holland, ZF said, adding that Mercadia Holland officials wouldn’t comment.
To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.
To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net
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