Headquarters sold too

The Metro Group has disposed of 53 Praktiker locations to a real estate fund managed by IXIS AEW Europe. The portfolio of sites sold comprises 35 locations in Germany, including Praktiker’s headquarters in Kirkel, along with eight Praktiker outlets in Greece and ten in Hungary. The sale is subject to the approval of the German cartel authorities. The initial public offering of Praktiker plus the real estate disposal yielded the Metro Group cash proceeds totalling around € 840 mio in fiscal 2005.