Metro Group has remained tight-lipped over reports it has held discussions to sell its Real operations in Turkey to local retailer Begendik.
Metro sold its Real grocery chain in eastern Europe to French retailer Auchan for EUR1.1bn (US$1.4bn) in November last year. The transaction comprised Real’s operational activities in Poland, Romania, Russia and Ukraine but not its business in Turkey.
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According to local publication Star Gazete, the two retail groups have held discussions and are on the verge of signing a deal for the unit.
Metro operates around 14 Real hypermarkets in the country. Begendik is one of the largest supermarket chains in Turkey and operates around 41 stores with revenues of around US$200m.
A spokesperson for Metro would not comment on the reports and Begendik could not be reached for comment.
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