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PressMETRO Group disposes of Praktiker Real Estate07.12.2005
The deal comprises 35 stand-alone locations in Germany including the Praktiker Headquarters in Kirkel. The portfolio includes further eight locations in Greece and ten in Hungary. The disposal of the locations is subject to the approval of the German cartel authorities.
The IPO of Praktiker a few weeks ago, as well as the real estate disposal results in total cash proceeds of around EUR 840 m for METRO Group in fiscal year 2005.
METRO Group is one of the most important international retailing companies. In 2004 the group reached sales of € 56.4 billion. The company has a headcount of about 250,000 employees and operates around 2,100 locations in 30 countries. The operating business is performed by the sales divisions which operate independently in the market: Metro/Makro Cash & Carry - world market leader in cash & carry wholesale, Real SB hypermarkets and Extra supermarkets, Media Markt and Saturn - market leader in consumer electronics centers in Europe, and Galeria Kaufhof department stores.
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