Eurocash faces long wait for UOKiK approval of Mila takeover

WSE-listed FMCG distributor Eurocash might wait at least six months to secure antitrust watchdog UOKiK approval to takeover Mila retail chain, according to the organization head Marek Niechciał. “Mila has 180 shops, we have to check whether it does not significantly infringe competition on all local markets. Such a proceeding lasts for at least half a year,” Niechcial told Reuters. He added that UOKiK might ask Eurocash to sell some shops if the deal infringes competition, or “ask for another option,” Niechiał added without providing any details. Earlier this month, Eurocash acquired Mila from Argus Retail Holding, Elbrus investment fund, Robert Kasner, Robert Zaleski, and Stanislaw Sosnowski for PLN 350 million. At the end of 2016, Mila's network operated 188 branches. Mila's sales in 2016 amounted to PLN 1.49 billion and EBITDA amounted to PLN 4.8 million.