Metro: starts process to sell supermarket chain Real
(CercleFinance.com) - German retailer Metro has started the process of selling its supermarket chain Real to focus exclusively on wholesale business going forward, the company said on Friday.
In a statement, Metro said that it has decided to initiate a systematic divestment process of the division and all associated business activities.
Real currently operates 282 supermarkets in Germany, employs around 34,000 staff and has a real estate portfolio of 65 locations. Its annual sales reached 7.25 billion euros.
Metro said Real has made significant progress in its transformation over the past three years, meaning that the foundations for a "successful independent future" have been laid.
Metro shares were down almost 2% in Frankfurt this morning after the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In a statement, Metro said that it has decided to initiate a systematic divestment process of the division and all associated business activities.
Real currently operates 282 supermarkets in Germany, employs around 34,000 staff and has a real estate portfolio of 65 locations. Its annual sales reached 7.25 billion euros.
Metro said Real has made significant progress in its transformation over the past three years, meaning that the foundations for a "successful independent future" have been laid.
Metro shares were down almost 2% in Frankfurt this morning after the news.
Copyright (c) 2018 CercleFinance.com. All rights reserved.