Wholesaler Metro has said that it still intends to sell its Real hypermarket business 'as a whole', despite suggestions in the German media that Kaufland may be poised to take over 80 to 100 sites.
Lebensmittel Zeitung reported that the Schwarz Group-owned discounter is eyeing a partial takeover of the group, with the news portal also reporting that Morgan Stanley, real estate developer Redos and Cerebrus are also waiting in the wings.
In response, a Metro spokesperson told ESM that the wholesaler '[does] not comment on individual names in the ongoing divestment process. However, you can assume that we are currently holding talks with a number of interested parties.
'It remains our intention to sell Real as a whole'.
Timetable
Last September, announcing the proposed sale, Metro announced a timetable for this process lasting between six to eight months, and the spokesperson said that this process was still on track.
'We are fully on schedule. Non-disclosure agreements have been signed, the data room is open. All parties know the timeline.'
Yesterday, Metro said that like-for-like sales at its Real hypermarket business were down 0.5% in the first quarter of the year, with reported sales down 1.5% due to two temporary store closures.
It also notably described the Real business as 'discontinued operations', indicating that a sale could be imminent. Real boasts 279 stores across Germany.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
