Metro hires Goldman Sachs to sell properties in Romania

German group Metro Cash&Carry, one of the biggest modern commerce groups in Europe, has hired US group Goldman Sachs to find a buyer for its real estate assets in Romania and Bulgaria. The properties include land plots, stores and other real estate assets, according to market sources, quoted by Ziarul Financiar. The company, which owns 30 cash & carry stores in Romania, aims to sell its real estate business and then lease the spaces to continue operating its local stores. The German group owns a total built area of some 200,000 sqm in Romania plus land plots, according to Ziarul Financiar estimates. The value of this real estate portfolio thus amounts to some EUR 400-600 million, considering that a store is valued at some EUR 15-20 million. Metro sells its last Real stores in Romania editor@romania-insider.com