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Germany: Investor Redos plans Real acquisition

By  |  October 3, 2019

German real estate investor Redos has officially notified antitrust authorities about its intention to buy Metro’s loss-making Real hypermarket chain, reported Reuters.

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    Once a sprawling retail conglomerate, Metro has in recent years been restructuring to focus on its core cash-and-carry business, selling off the Kaufhof department stores and then splitting from consumer electronics group Ceconomy. 

    It has long sought to shed its Real hypermarkets chain, which has annual sales of more than €7 billion (US$7.7 billion), but has struggled for years in a fiercely competitive German market, dominated by discounters Aldi and Lidl.

    Metro entered exclusives talks with Redos in May and initially agreed to complete talks by the end of July,  but then extended that deadline to September.

    Full Content: Reuters

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