July 4, 2019 / 2:06 PM / 12 days ago

Consortium led by X+Bricks improves offer for Metro's Real hypermarkets

BERLIN, July 4 (Reuters) - A consortium consisting of property investor X+Bricks and SCP Group said on Thursday that it had made a beefed-up offer to Metro to acquire the German wholesaler’s loss-making Real hypermarkets.

It said it was now offering total cash proceeds of significantly more than 500 million euros ($563.85 million).

The chief of real estate investor Redos, which is leading another consortium seeking to buy the Real hypermarkets, was on Thursday cited by German business weekly Wirtschaftswoche as saying that talks on Real were progressing well.

$1 = 0.8868 euros Reporting by Michelle Martin Editing by Arno Schuetze

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