Bloomberg News

Metro Group Places Real Estate Fund With Italian Locations

September 29, 2011

Sept. 29 (Bloomberg) -- Metro AG said its Metro Properties real estate unit contributed 20 Italian locations of the sales division Metro Cash & Carry to a closed-ended real estate fund named “M Due” and completely divested all fund shares to institutional investors, the company said in a statement posted on its website today.

The gross proceeds from the transaction amount to about 300 million euros and the earnings before interest and tax contribution before portfolio measures and valuation effects exceeds 100 million euros, Metro said.

To contact the editor responsible for this story: Mariajose Vera at mvera1@bloomberg.net


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