The German Rewe Group is looking to sell its loss-making Italian subsidary, Billa Italia, with the Conad thought to be favourite to acquire the group. Coop Italia is also thought to be interested in the group, which saw its sales drop by six per cent in 2010.
Rewe reportedly wants to hold only on to single sites in the northern regions of Lombardy and Veneto, which it will tie up with its Billa Austria business.
Rewe has apparently been trying to look for a buyer for the Italian group for some time, with a company spokesperson saying of the performance of the troubled chain that "no improvement is in sight" in terms of its performance. (22 Jul)
© 2011 - ESM: European Supermarket Magazine
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