Metro sells its Moroccan subsidiary

Based in Morocco since 1998, the German giant Metro sells its business to the chain Moroccan Label'Vie.

 Label'Vie will expand its network by collecting 8 hypermarkets Cash & Carry. Scheduled for December 1st, this acquisition will amount to 120 million euros.

 Label'Vie, which operates a franchise of the French brand Carrefour posted strong performance with turnover up  to 35.5% in Q1 2010.

 With this acquisition, Label'Vie will double its size by transforming the Metro stores in hypermarkets.

 Source: Yabiladi, the echoes