BUCHAREST (Romania), January 23 (SeeNews) – German-owned retail and wholesale group Metro Romania said on Friday it has sold its four remaining Real hypermarkets in Romania to Cyprus-registered Terazone Enterprises Limited.
The deal was finalised on January 20, the company said in a statement.
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After selling most of its Real stores in Romania to French group Auchan in 2013, Metro owned four Real stores in the country - in Constanta, Suceava, Oradea, and Arad.
The four stores posted 57 million euro sales in fiscal year 2015-2016, ended October 1, up from 47 million euro in the previous year, Metro's financial statement showed.
According to local media, Terazone Enterprises Limited is represented by Dusan Wilms, who managed Metro’s operations in Romania between 1999 and 2005 and from 2009 until 2013 and by Gerardo Monzillo, a former commercial director of Metro Cash&Carry Romania.
At end-September 2016, Metro Group Romania, which comprised of 30 Metro Cash&Carry stores and four Real stores, had 5,318 employees in Romania, down from 5,751 in 2015.
In Romania, Metro Cash & Carry sales increased to 911 million euro in fiscal year 2015-2016 from 892 million euro in the previous fiscal year.
($=0.9312 euro)
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