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Page headingMETRO Group to divest itself of AXXE Reisegastronomie

20.05.2009

METRO Group to divest itself of AXXE Reisegastronomie

Effective from 1 July 2009 on, METRO Group will divest itself of AXXE restaurants and motels. The operational business of AXXE Reisegastronomie will be transferred to the buyer, the rest-stop operator Tank und Rast respectively its tenants, no later than 30 September 2009. It has been agreed not to comment on the financial details of the transaction.

In January 2009, METRO Group announced the efficiency and value-enhancing programme 'Shape 2012'. The aim of 'Shape 2012' is to ensure the company’s long-term profitable growth. In this context, an important aspect is streamlining the Group’s structures. It is against this backdrop that the divestment of the 31 AXXE autobahn restaurants, including travel shops and coffee bars, in Germany is being initiated. In addition, 14 petrol stations and petrol shops as well as seven AXXE motels in Germany are being transferred. Two locations in Germany and Austria are not included in the transaction and will continue to be operated until their leases expire. So far, the AXXE restaurants and petrol stations as well as the AXXE motels, along with the restaurant brands DINEA and Grillpfanne, are part of DINEA Gastronomie GmbH under the umbrella of GALERIA Kaufhof GmbH.

In fiscal year 2008, AXXE Reisegastronomie generated sales of €75 million with about 930 employees in Germany and Austria.

The transaction is subject to approval by the Supervisory Board of DINEA Gastronomie GmbH and competition authorities.

METRO Group is one of the largest and most international retailing companies. In 2008 the Group reached sales of € 68 billion. The company has a headcount of some 300,000 employees and operates over 2,100 stores in 32 countries. The Group’s performance is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.

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