Eurocash to buy Mila supermarket chain

WSE-listed FMCG distributor Eurocash signed a letter of intent to buy 100 percent stake in the supermarket chain Mila, the company said in a market filing. Sellers are Argus Retail Holding, Elbrus investment fund, Robert Kasner, Robert Zaleski, and Stanislaw Sosnowski. Eurocash was granted the exclusive right to finalize the transaction until September 8, by which date a preliminary sale deal should be signed. The parties have agreed preliminarily on the basic terms of the transaction, without specifying any details. 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.