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Retail

METRO Sells Real Eastern Europe To Auchan

By square1
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METRO Sells Real Eastern Europe To Auchan

German retail group METRO Group has agreed the sale of its Real hypermarket business in Eastern Europe to France-based Auchan for €1.1 billion. The sale, announced today (30 Nov) comprises the Real banner's operational activities in Poland, Romania, Russia and Ukraine as well as real estate assets.

The divestment of the hypermarket banner sees Auchan take on 91 Real hypermarkets in Poland, Russia, Romania and Ukraine, including the real estate assets of 14 stores. The Real business in these four countries employs around 20,000 people, and sales exceeded €2.6 billion in 2011.

METRO has confirmed its dedication to the German Real business, which is "integral" to the group. The banner's operations in Turkey are unaffected by the sale.

Auchan already operates 98 stores with workforce of around 65,000 employees in these four countries. Auchan chairman Vianney Mulliez said, “With the purchase of Real’s business activities in the four countries Groupe Auchan takes the opportunity to balance its presence in Central and Eastern Europe, its two other priority development zones being Western Europe and Asia. It is also an opportunity to offer an even better service to our customers, with very professional teams, both in Real and Auchan, that we fully trust.” (30 Nov)

© 2012 - ESM: European Supermarket Magazine

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