the sale of The supermarket chain Real is now within reach. The Real-mother group, Metro has reached an agreement with a consortium led by the financial investor, SCP, and the real estate investor, X-Bricks, in principle, on the sale of its ailing supermarket's daughter, as he brokered early Tuesday morning. The individual open points would, however, still subject to negotiations.

"the signing of The business purchase contract is to be made in the coming days," wrote Metro CEO Olaf Koch in a letter to the employees of Real.

After the sale, the supermarket chain with 277 markets and approximately 34,000 Employ to be broken up. The buyers want to operate a "core of at least 50 Real-markets" for at least 24 months, as cook writes.

The largest part of the branches should, however, be to other retailers, such as Edeka or Kaufland sells. "The new operators will be required to take the Real staff at the respective area," promised cook in his letter.

Many Real-locations

A number of locations without a convincing economic perspective, closed by the closure, however, threatens. The buyers went but, "the number of closing locations will be under 30," wrote cook. Where there are redundancies will be, to temper the cooking according to a by the end of last year of any agreement concluded social hardship. It provides, in accordance with previous information of the works Council, severance pay of a maximum of 12 to 14 monthly salaries.

The largely negotiated agreement between Metro and the consortium, according to the retail giant to sell Real as a Whole to an enterprise value of approximately one billion euros.

Metro is expecting a net cash inflow of approximately 300 million euros. The are around 200 million euros less than a few months ago wished for. Together with the proceeds from the sale of the majority stake in the Chinese Metro-business, the group expects more than 1.5 billion euros in net inflows to all of the transaction costs.

cook stressed that the Metro had done in the last few years, "countless efforts" to make the business model of Real on new legs. But it had not managed to improve the economic viability of the supermarket chain. Real could not be, therefore, guided in the present Form.

surf tip: Real supermarket fascinating facts and helpful info METRO 12,21 EUR -0,10 (-0,81%) Xetra

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Real long been the problem child of the Metro

The supermarket chain was the least of the worries a child with the düsseldorf-based retail giant, and had provided in fiscal year 2018/19 for deep in the red at Metro. The Metro had already announced that in 2018 the supermarket chain to submit to the wholesale business, with restaurateurs and small merchants focus.

The sale process proved to be much more difficult than expected. With high hopes, started exclusive negotiations with the real estate investor Redos failed.

now within reach, moved the agreement, the approval by the competent bodies on both sides is still to come. In addition, the antitrust and Supervisory authorities would have to agree to the closing.

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til/dpa Date Of Update: 11 February 2020, 18:00