The German wholesale company Metro has found a buyer for its ailing supermarket chain Real. A consortium of investors, including real estate investor X-Bricks, is interested. The parties are not putting any scraps under the purchase agreement and are still negotiating the details.
With the deal, hypermarkets from Real, with 277 branches, have a price tag of 1 billion euros. Metro does not, however, hold back a minority interest. The transaction together with the sale of a majority stake in the Chinese branch is intended to supplement Metro’s cash with 1.5 billion euros. In addition, German wholesalers will continue to provide services to supermarkets during a transitional period. This will gradually decrease over time.
It is reported that some 30 Real branches will close after the sale. That would have been reported to Metro staff Olaf Koch from Metro. 34,000 people work at Real’s supermarkets.
Maurice Esma, a co-founder of EconomicInform is a freelance journalist with the expertise in international finance and corporate rights. The author can be reached by email maurice.eisma@economicinform.com
