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German retailer Metro sells Real unit for 1.1bn euros

storeFRANKFURT: German retailer Metro said on Friday it had agreed to sell the eastern European operations of its Real supermarket division to French rival Auchan for 1.1 billion euros ($1.4 billion).

 

Metro said in a statement it had signed an agreement with the French retailer to "take over the operational activities and real estate assets of Real in Poland, Romania, Russia and Ukraine" in a deal valued at 1.1 billion euros.

 

Copyright AFP (Agence France-Presse), 2012