Biedronka to bid for Romanian chain

Polish discount store chain Biedronka, owned by Portuguese Jeronimo Martins, is interested in buying Romanian retail chain Profi, Romania Insider informed. Polish fund managers Enterprise Investors have appointed Citi Corporate to handle the sale and the American company is waiting until the end of September to receive non-binding offers, the newspaper stated. The sale could generate between €450-500 million. American fund CVC Capital and investors groups from Turkey and Baltic countries are also potential purchasers of the Profi chain.