TURKEY: Talks continue as Metro quashes Real deal rumours

By Dean Best | 14 January 2014

Metro Group has quashed reports it has agreed a deal to sell its Real hypermarkets in Turkey - but has admitted it is in talks with suitors over a possible sale.

According to reports in Turkey, the German retail giant was said to have struck an agreement to sell the 12 stores to local supermarket operator Begendik.

However, speaking to just-food, Metro dismissed the claims, although it said negotiations are taking place.

"The media reports that are based on unnamed sources are not correct; Real Turkey has not been sold," a spokesperson said.

"We are currently reviewing the future potential of the Turkish market for Real and considering growth options for the business. Against this background, we are continuously evaluating various strategic options for Real Turkey. This includes plans for a further development of the business as well as talks with interested parties on a potential sale."

Metro refused to be drawn on whether it has been in discussions with Begendik. "We cannot disclose any details on the status of these talks but would like to stress that no decision has been made."

The 12 stores generated sales of EUR256m in Metro's pro forma 2012/13 business year.

Metro also has 27 cash-and-carry outlets, plus 34 Media Markt and Saturn electronics stores in Turkey.

Sectors: Emerging markets, Retail

Companies: Metro Group

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