Auchan operator received a 15m euro loan for expansion plans

MGV Distri-Hiper, the Auchan hypermarkets operator in Romania received a 15 million euro funding from UniCredit Tiriac Bank to open two new stores in Bucharest and Suceava, North Romania, a press release of the financial institution reads.

10 million euro will be used to acquire utility equipments for the two stores and the other 5 will be used as work capital. MGV Distri-Hiper was founded in 2005 to build up Auchan branches in Romania. French retailer Auchan announced that it has bought 51% of the MGV Distri-Hiper SA, the operator of Auchan hypermarkets in Romania.