Investment group SCP (from Luxembourg, but with Russian backers) has acquired Metro's ailing hypermarket chain Real. The German chain is to be cut in pieces, 10,000 jobs are threatened.
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German retail giant Metro has finally reached an agreement with the consortium of property investor X+Bricks on the sale of its Real hypermarkets. The deal is causing unrest among the staff.
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The German Metro group has posted encouraging results in the past year: its Chinese operations have been sold, Real also found a buyer and like-for-like sales have increased by 2.4 %, the strongest growth in a decade.
The ongoing efforts of the consortium surrounding real estate investor X+Bricks to win over Metro's Real chain appear to be bearing fruit. The German wholesaler has confirmed that it has started exclusive negotiations with the consortium, to be completed by the end of January.
Property investor X+Bricks has increased its bid on German retail chain Real, but its owner Metro maintains that it rather hopes to reach an agreement with Redos.
British retailer Tesco launches a new and paying loyalty scheme, Real does the same thing in Germany, and Casino already did the same in France. Belgian Delhaize is also experimenting with innovative concepts: are traditional retailers going Amazon Prime-style?
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.
Metro has received a new, higher bid for its Real supermarkets from X+bricks and SCP Group. The wholesale company had been in exclusive negotiations with a syndicate headed by real estate player Redos for some time.
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.
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.