The Manager reported that the sale negotiations had been completed “so to speak”. It is planned that the boards of both companies, will give on Thursday its approval of the negotiated contract.
The düsseldorf-based retail group Metro plans to concentrate on its wholesale business, and was looking for some time for a buyer for its ailing supermarket division. After the sale, the supermarket chain was to be broken up, with currently approximately 34,000 Employ. The buyers want to operate a core of 50 Real markets for a minimum of 24 months. The largest part of the branches should, however, be to other retailers, such as Edeka or Kaufland sells. Of the new operators with the assurance expected to deal with Real employees, said Koch. Branches without prospects for the future are to be closed. METRO 12,45 EUR -0,14 (-1,07%) Xetra
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the bottom line is, a loss of 34 million Euro
Also in the important Christmas quarter proved to be Real once again as a problem child of the Metro. Further write-downs shortly before the sale provided in the first quarter of the fiscal year 2019/2020 for the red of the parent group. The bottom line is, a loss of 34 million euros, as the company announced at the presentation of the quarterly figures. The value adjustments on Real-valued Metro to EUR 237 million.
Through the sale of Real, Metro expects to see a net cash inflow of approximately 300 million euros. The are around 200 million euros less than a few months ago wished for. Here, business development at Real make, among other things, in the past few months, said Koch.
In the continuing operations, i.e. without Real and without the also a sale of Chinese business – decreased the profit of the retail giant in the three months to end-December, up nearly 30 percent to 121 million euros. The operating result (Ebitda) excluding sales of real estate decreased slightly by 0.6 percent to 526 million euros. The forecast for the year has been confirmed by the company.
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