After having reviewed various strategic options, METRO Group has decided to focus its food retailing further. With effect of 1 July 2008, REWE Group will take over 245 Extra supermarkets. It has been agreed not to disclose the consideration.
"The sale of Extra enables us to concentrate our food retailing operations solely on Real and thereby focus more effectively our resources on the further successful re-positioning in Germany", said Dr. Eckhard Cordes, CEO of METRO Group.
In 2007 Extra employed around 9,700 employees and generated sales of