Auchan to buy Real business in CEE region
Auchan signed an agreement with the Metro Group on 30 November 2012 to purchase the retail outlets and real estate of the latter in Poland, thumb Romania, Russia and the Ukraine for a sum of EUR1.1bn. Our report published on Friday morning suggested a price of EUR1bn but did not take into account some real estate which has now been added to the sale. The sale will be finalised once the competition bodies in various countries give it the green light.
Hypermarkets currently branded by Real will be rebranded Auchan once the deal goes through.
Real still has operations in Turkey which will not be effected by this deal. Auchan stated that it was not at present interested in starting a business in that country.
The sale involves 91 hypermarkets in which Real noted a turnover of over EUR2.6bn last year. It employs 20,000 people. Currently Auchan operates 98 units and employs 65.000 people in these countries.
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