Metro sells Praktiker properties
Thursday, December 8, 2005, 09:01
German retail giant Metro GmbH has sold the properties of 53 of its Praktiker GmbH do-it-yourself stores to property fund manager IXIS AEW Europe, Metro announced yesterday. Ten of the properties affected by the sale are in Hungary. The sale will not affect the businesses themselves; they will continue to rent the premises from the new owner. The transaction, which affected a further 35 properties in German and 8 in Greece, still requires approval by Germany's competition authority.