German wholesaler Metro AG has surprised bidders by canceling the sale-and-leaseback deals involving its properties (14 stores with a total area of 200,000 square metres) in Romania and Slovakia, evaluated at EUR 200 mln, PropertyEU announced.
“Several options were evaluated, and the decision was not to continue the sale&leaseback project,” Metro AG told Economica.net.
In Romania, the group was planning to sell nine stores, a portfolio valued at EUR 100 mln, according to Profit.ro.
The decision is surprising, considering the strong demand: in the first round of negotiations 15 investors placed their bids, according to Romania-Insider.com.
The real estate arm of Metro, Metro Properties, was supposed to lease back the stores for a period of 12 years, PropertyEU also writes.
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