Metro Group: to divest itself of Axxe Reisegastronomie

Dusseldorf / DE. (mg) Effective from July on, Metro Group will divest itself of Axxe restaurants and motels. The operational business of Axxe Reisegastronomie will be transferred to the buyer, the rest-stop operator Tank und Rast respectively its tenants, no later than 30 September. It has been agreed not to comment on the financial details of the transaction. In January 2009, Metro Group announced the efficiency and value-enhancing programme «Shape 2012». The aim of «Shape 2012» is to ensure the company´s long-term profitable growth. In this context, an important aspect is streamlining the Group’s structures. It is against this backdrop that the divestment of the 31 Axxe autobahn restaurants, including travel shops and coffee bars, in Germany is being initiated. In addition, 14 petrol stations and petrol shops as well as seven Axxe motels in Germany are being transferred. Two locations in Germany and Austria are not included in the transaction and will continue to be operated until their leases expire. So far, the Axxe restaurants and petrol stations as well as the Axxe motels, along with the restaurant brands Dinea and Grillpfanne, are part of Dinea Gastronomie GmbH under the umbrella of Galeria Kaufhof GmbH. In fiscal year 2008, Axxe Reisegastronomie generated sales of 75 million EUR with about 930 employees in Germany and Austria. The transaction is subject to approval by the Supervisory Board of Dinea Gastronomie GmbH and competition authorities.