German retail group Metro is in advanced talks with two companies to sell the non-German operations of its Real hypermarkets as part of the company’s strategy to focus on core markets, writes Bloomberg citing two people familiar with the matter.
Outside Germany, Metro runs Real stores in Poland, Russia, Ukraine, Turkey and Romania.
French retailer Auchan is the leading bidder to buy Real’s international business. However, no final decision has been made, and Metro still may decide against a sale, said Bloomberg’s sources.
“Dusseldorf-based Metro is focusing on its Cash & Carry wholesale business and the Media-Saturn electronics stores while cutting investment in Kaufhof department stores and Real, both of which it has said it may sell. CEO Olaf Koch is seeking to address falling sales inEuropeas the region’s economy approaches the second recession in three years,” writes Bloomberg.
Metro is present in Romania with 32 Metro Cash & Carry stores and 24 Real hypermarkets.
Last year Metro Cash & Carry Romania reported EUR 1.06 billion sales, down 7 percent y-o-y. Real stores saw local sales go down from EUR 694 million to EUR 627 million.