16:18 | 08/01/2016 Companies
(VEN) - METRO GROUP and TCC have obtained all approvals required to complete the sale of METRO Cash & Carry Vietnam to TCC.
TCC will thereby acquire METRO GROUP’s complete wholesale operations in Vietnam including all 19 wholesale markets and the related real estate portfolio for an enterprise value of €655 million.
METRO Cash & Carry Vietnam started to operate its wholesale business in 2002 and is currently running 19 wholesale stores across the country with more than 3,300 employees. Over the years METRO Cash & Carry Vietnam has invested broadly and continuously in the local trade infrastructure and food hygiene and safety.
METRO Cash & Carry Vietnam’s large market potential will be further tapped by BJC’s expansion ambitions and strong operational expertise - (BJC is part of TCC Group).
METRO Cash & Carry Vietnam will continue to operate under its name and to serve with the same focus, products and services over one million professional customers.