The Office of Competition and Consumer Protection of Poland allowed the owners of Epicenter, Galina and Alexander Gereg, to absorb the Polish Intersport.
Writes about this Forbes Ukraine with reference to a statement from the Polish regulator.
It is noted that the Polish sports retailer Intersport will receive 10 million euros to open new stores and modernize existing ones.
At the same time, the Geregas will receive control over Intersport Polska through their subsidiaries Epicenter K LLC and Paravita Holding Limited.
“Retailer Intersport Polska has entered into an investment agreement with Epicenter and its business partner Paravita Holding from Cyprus regarding joint investment in the chain in April 2023. The agreement provides for an investment of 10 million euros. These financial resources will be used to open new stores and modernize already existing retail outlets,” the message says.
The Intersport chain has 35 stores in Poland, mainly in shopping centers. From April 2022 to March 2023, the company received an annual net loss of 12.8 million zlotys, and net income amounted to 239,457 zlotys, Forbes adds.
The Gereg company “Epicenter K” has been developing the Intersport network in Ukraine since 2015, when they signed a partnership agreement with the Swiss IIC-Intersport International Corporation GMBH. Since then, the Ukrainian network of multi-brand sporting goods stores has grown to more than 50 outlets in different regions of the country, Forbes notes.
The publication adds that Galina Gerega submitted an application to the Polish regulator for the acquisition of Intersport Polska in mid-August 2023.
“This is not the only Polish asset for which Ukrainian billionaires have an “appetite”. At the end of September, Galina Gerega filed an application with the Polish antimonopoly authority about the concentration of a controlling stake in the company Przetworstwo Tworzyw Sztucznych Plast-Box, one of the largest plastic producers in Poland,” – Forbes also writes.
In addition to Intersport, Epicenter is also developing its own networks, Deco Galleries and E.PIC, and sports networks 4F (an agreement with the Polish company OTCF) and The Athlete’s foot (a subsidiary project of Intersport) outside its shopping centers.
Let us remind you:
The companies “Epicenter” and “New Line” of Alexander and Galina Gereg paid wages for 8 years to Gennady Galchuk, the ex-director of the “Epicenter” hypermarket in Makeyevka, who after 2014 remained in the occupied part of the Donetsk region and continued to manage the network created in place of “Epicenter” Galaxy”, which is registered according to the rules of administrations controlled by the Russian Federation.
Economic truth
2023-10-23 16:14:33
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