GERMANY: Metro silent over Auchan talks for Real deal
The sale would reportedly include Real’s operations in Poland, Romania, Russia and Ukraine, while excluding those in Turkey and some real estate
A spokesperson for Metro said he would not comment on a Bloomberg report today (29 November) that it is near to closing a EUR1bn (US$1.3bn) deal for the operations with Auchan.
The sale would exclude Real's operations in Turkey, sources told the publication.
Earlier this week, Metro had declined to comment on reports this week that Auchan was a frontrunner for the operations.
In July, Metro said it had received some interest in the international business of Real but said there had been "no concrete negotiations" and that no decision to sell the stores had been made.
Reports in October had linked Auchan, along with Russian retailer O'Key as two of three bidders in the running for the Real stores in Russia.
The group is expected to reveal details of its plans for the future of Real on the release of its full-year results next year.
Auchan could not be reached for comment.
Auchan Hypermarket Ukraine introduced a new concept for Ukraine, the so-called “discounter hypermarket”. This format provides the lowest prices in the entire range of these stores. It goal is to impro...
Facing challenging conditions for hypermarket operators in France and other Western European markets, Auchan is battling to improve its price image while maintaining profits, while internet retailers ...
Russian retailer O'Key has booked a jump in full-year sales and profits for fiscal 2012, as the group expanded into new cities in Russia....
- Why US foodservice could offer route to growth
- Foodservice in the US - what the analysts say
- How can brands capitalise in US foodservice?
- Why "simple" and "real" will be industry buzzwords
- UK organic industry's bullish outlook
- UPDATE: Mondelez confirms Irish plant changes
- Thorntons sales, profits fall
- WhiteWave launches "Australian-style" yoghurt
- Saputo's Warrnambool to buy Lion's cheese arm
- Greenyard Foods, Univeg, Peatinvest mulling merger