German retail group Metro is calling on its shareholders not to accept the EP Global Commerce takeover bid because it would be too low. The food service company has just published sound quarterly results.
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There seems to be light at the end of the tunnel for German retail group Metro: a buyer has been found for supermarket chain Real and profits are higher than expected. Unfortunately, losses keep accumulating at Makro in Belgium.
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The German Schwarz group, parent company of Lidl and Kaufland, has shown an interest in about 100 Real stores, currently belonging to the Metro Group. There are at least five other interested parties, including fellow food retailer Edeka.
German retail giant Metro is looking to sell its hypermarket chain Real, in order to continue narrowing its focus on wholesale. Amazon is named as one of the potential buyers.
German food retail group Metro says it has created a solid foundation for new growth in its first year since it stepped away from its non-food activities. The Benelux are still worrisome however.
Similar to many other retailers joining forces in a purchase alliance, German Real and several other retailers have created the RTG Retail Trade Group.
Metro Group's waning German hypermarket chain Real has unveiled a spectacular new store formula last week, focusing on fresh food experience and technology.