Germany's largest retailer Metro has appointed JP Morgan to lead the sale process of its Kaufhof department stores. According to news reports in Bloomberg and Reuters, the retail giant confirmed it is having 'preliminary talks' with potential buyers, but added that the official sale process has not started yet.
Germany's largest retailer Metro has appointed JP Morgan to lead the sale process of its Kaufhof department stores. According to news reports in Bloomberg and Reuters, the retail giant confirmed it is having 'preliminary talks' with potential buyers, but added that the official sale process has not started yet.
Chairman Eckhard Cordes said in March this year that the company was considering the sale of the Kaufhof properties as they were no longer strategic to the firm's business. The Kaufhof department stores consist of 1.5 million m2 across 141 locations, mostly in German and Belgian city centers and with a value of some EUR 2 bn.