Indotek starts talks for Auchan minority stake
Hungary's Indotek Group has started exclusive talks with ELO, the holding company of France's Auchan, on strengthening cooperation, possibly through the acquisition of a minority stake in the retailer's local unit, the parties said in a joint statement, according to hvg.hu.
Strengthening the strategic partnership between Indotek Group and Auchan Retail Hungary and Ceetrus Hungary could tap synergies and bolster both parties' positions on the local market.
Indotek Group owns a number of shopping centers with Auchan store anchors.
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