May 8, 2019 / 8:47 AM / 2 months ago

Redos in talks with Metro on potential Real hypermarkets deal -sources

DUESSELDORF, May 8 (Reuters) - Germany retailer Metro remains in talks with a consortium led by real estate investor Redos over a potential sale of Metro’s hypermarket chain Real, sources close to the matter said on Wednesday.

Talks with a different consortium led by property investor X+Bricks - which had been seen as frontrunner to secure a deal - have been put on hold, they added.

A Metro spokeswoman said that talks on Real were at an advanced stage, declining to elaborate. Redos and X+Bricks declined to comment. Metro Chief Executive Olaf Koch said in March that he was aiming to sign a deal on the sale the loss-making chain with sales of more than 7 billion euros ($7.84 billion) in April or May.

German daily Handelsblatt reported earlier on Wednesday that X+Bricks submitted a takeover offer for Real worth just below 900 million euros.

Business publication Boersen-Zeitung reported last month that the consortium comprising Redos, ECE and Morgan Stanley had dropped out of the auction for the Real properties. ($1 = 0.8925 euros) (Reporting by Matthias Inverardi, Writing by Tassilo Hummel, Editing by Arno Schuetze)

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