Mar 17 • 05:41 UTC 🇬🇷 Greece Naftemporiki

Masoutis: Approval from the Competition Commission for the acquisition of Kritikos is expected after Easter

Masoutis expects the Competition Commission's approval for its acquisition of a supermarket chain after Easter, with a new hypermarket and residential complex also opening soon.

Masoutis is set to inaugurate its second large Grand Masoutis supermarket in the Treis Gefyres area of Attica on April 3rd, along with the launch of sales for 112 residential units constructed above the supermarket. The investment in this project, which includes both the supermarket and the residential complex, amounts to approximately 35 million euros, and there are already more than 50 interested buyers for the apartments, as stated by the company's CEO, Ioannis Masoutis.

Initially, Masoutis considered the idea of selling the entire complex to a single buyer but has since opted to proceed with the residential sales separately. This development indicates Masoutis's keen interest in expanding its market presence through both retail and real estate investments. The ongoing conditions and responses from buyers will play a crucial role in shaping the project’s success and defining future strategies for the company.

Regarding the acquisition of the Kritikos supermarket chain, the approval from the Competition Commission is anticipated after Easter. Although it remains uncertain what commitments may arise from the Commission concerning the number of stores, this acquisition represents a significant move for Masoutis to strengthen its competitive position in the Greek supermarket sector. The outcome will potentially reshape market dynamics and direct subsequent investment decisions by Masoutis and its competitors.

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