Hornbach sells part of 20m-euro land - Azi

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German group Hornbach could derive profit for the first time on the Romanian market from a real estate deal, as the retailer is planning to sell part of the 150,000 square-metre plot on DN1 (National Road1), which it acquired last year for 20 million euros.

Less than half the plot will be used for a 24,000 square-metre DIY Hornbach store, which is scheduled to open at the end of next year. The Germans bought the land about a year ago from two companies that had entered bankruptcy procedures -...

Read the whole story in: Ziarul Financiar