Arab Today, arab today metro sells real supermarkets in turkey
Last Updated : GMT 21:25:08
Arab Today, arab today
Arab Today, arab today

Metro sells Real supermarkets in Turkey

Arab Today, arab today

Arab Today, arab today Metro sells Real supermarkets in Turkey

German retail and distribution giant Metro
Frankfurt - AFP

German retail and distribution giant Metro said Monday it has agreed to sell its Real supermarkets in Turkey for an undisclosed sum.
Metro said in a statement it has signed an agreement to sell Real's 12 stores in Turkey to Haci Duran Begendik. 
"With this move, Real will fully focus on the successful development of its business in Germany," the statement said.
"The transaction still requires approval by the responsible competition authorities in Turkey and is expected to be closed in summer 2014."
Turkey would remain an "important focus country" for other Metro brands such as its Cash & Carry and Media-Saturn chains, the German company said. 
Real Turkey generated sales of 256 million euros ($350 million) in the 2012-2013 financial year and employs around 1,800 people. 

 

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