WARSAW, Aug 22 (Reuters) - Polish retail and wholesale group Eurocash said on Tuesday it signed a letter of intent to buy its smaller rival Mila.
Eurocash said exclusive talks with Mila sellers, which include Argus Retail Holding Ltd, will last until Sept. 8 and that an initial deal might be signed by then.
Mila’s revenues amounted to 1.49 billion zlotys ($411.1 million) in 2016 with EBITDA or earnings before interest, tax, depreciation and amortisation at around 4.8 million zlotys. Mila had 188 shops as of end 2016. ($1 = 3.6242 zlotys) (Reporting by Agnieszka Barteczko; Editing by Gopakumar Warrier)