Metro Group sold Real Eastern Europe to Auchan for Euro 1.1BN
Metro Group sold Real Eastern Europe for Euro 1.1BN to Auchan, the transaction including operational activities in Poland, Romania, Russia and Ukraine as well as real estate assets. Metro keeps Real German business.
With this move, Real focuses on the successful further development of its German business while at the same time facilitating major growth opportunities for the business operations in Eastern Europe. Metro Group will receive a cash inflow of around Euro 600M from this transaction, with the rating-relevant net debt significantly reduced by Euro 1.5BN. The divestment still requires approval by the relevant antitrust authorities and will probably be closed in 2013.
Groupe Auchan is the world’s 12th largest food retailer. It operates in 12 countries and has 269,000 employees. It is structured into 5 core businesses: hypermarkets (655 fully-consolidated stores and 23 under management mandates, associated or franchised, supermarkets (767 fully-consolidated stores and 1,665 franchised and associated ), retail real estate (Immochan), banking (Oney Banque Accord), e-commerce, and other activities. The Group’s vision is to improve the purchasing power and quality of life for the greatest number of customers, with responsible, professional, committed and respected employees. In 2011, Auchan Group reached a consolidated revenue excluding taxes of 44.4 billion euros, 55% coming from outside France.