Sale Of German Real Hypermarkets Is Making Progress: Metro
German wholesaler Metro said it expected non-binding offers to be made soon for its loss-making Real hypermarkets chain, with a binding offer to come six to eight weeks later.
Metro chief executive Olaf Koch reiterated that Metro wants to sell Real as a whole, but said the process was difficult due to competition regulations.
The update follows the publication of Metro's first quarter results earlier today.
A Positive Price
Koch told journalists he expected a positive price for Real due to its real estate portfolio and e-commerce business, adding there was more than a handful of interested parties.
Industry bankers had predicted that Metro might have to effectively pay a buyer to take the chain off its hands.
Rival German chains could be interested in parcels of stores, but private equity firms are seen as the most likely bidders.