Metro in exclusive talks to sell Real Hypermarkets to Redos

Source: metroag, Friday, May 10, 2019

Metro is in exclusive talks to sell its Real hypermarkets to a consortium led by real estate investor Redos, the German retailer has said, adding it was taking a EUR385 million impairment charge on the loss-making chain.

The framework concept the parties have agreed on stipulates the sale of Real as a whole to Redos. Metro will initially retain a 24.9% stake in Real's operating business but will have a put option that can be exercised after three years at the earliest.