Metro prepares possible sale of Kaufhof

Deals

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)

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