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Reuters
Published
Jun 30, 2014
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Metro sells Real stores in Turkey to focus on Germany

By
Reuters
Published
Jun 30, 2014

BERLIN, Germany - German retailer Metro is selling its 12 Real hypermarkets in Turkey to Ankara-based supermarket chain Haci Duran Begendik as it focuses on turning around the struggling business in Germany.

(Foto: Real)


"With this move, Real will fully focus on the successful development of its business in Germany," Metro said in a statement on Monday, adding it was not disclosing the purchase price of a deal it expects to close in the summer.

Real Turkey had sales of 256 million euros ($349.20 million)in the 2012/13 fiscal year and employs around 1,800 people.

In 2012, Metro sold its Real hypermarkets in eastern Europe to French rival Auchan in a 1.1 billion euro deal to cut debt and focus on expanding its cash and carry and consumer electronics stores.

$1 = 0.7331 Euros

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