Metro prepares possible sale of Kaufhof
Adviser JP Morgan has sent information packets to potential buyers, the person said, noting the sale process had gained momentum compared with just a few months ago.
A Metro spokesman confirmed only that JP Morgan was advising Metro on its options for Kaufhof.
“Metro has not started a sale process for Kaufhof,” he said. “We are not under any time pressure.”
Metro Chief Executive Eckhard Cordes said he is prepared to sell Kaufhof if he can get a good price. Industry sources said he was aiming to sell it for around €3 billion ($4.38 billion) - roughly 1 billion for the operations and 2 billion for the real estate. (Reuters)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.