Buyers found for Metro and Makro Belgium

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Metro Belgium announced that the hotel wholesaler Subway and cash & carry chain Macro will be sold to two investors. The consequences for employees are unclear.

After a previous refusal

In January this year, it was learned that the German food group Metro wanted to get rid of its very loss-making Belgian subsidiary. The company is said to have asked the Rothschild investment bank to review the options. A week later, however, CEO Steffen Greubel denied that a decision had been made regarding Belgian operations.

Two buyers were finally found: the Luxembourg real estate company Bronze Properties and a restructuring specialist, GA Europe. It remains unclear what shoppers intend to do with the six Makro outlets and eleven Metro wholesale stores. For the time being, the activities will be continued. However, according to the unions, the uncertainty for the nearly 2,000 employees remains high.

One of the buyers, GA Europe, is known to have taken over loss-making companies in order to restructure and resell them. The company participated in the sale of the Belgian company Blocker stores, a story that did not have a happy ending.

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Metro Belgium has announced that hotel wholesaler Metro and cash & carry chain Makro will be sold to two investors. The consequences for employees are unclear.

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