ECONOMY

My Market owner likely to buy out Veropoulos supermarkets

My Market owner likely to buy out Veropoulos supermarkets

The second attempt to sell Veropoulos supermarkets appears close to fruition, as Metro and Veropoulos announced on Tuesday the signing of a preliminary agreement, which has been submitted to the Hellenic Competition Commission for approval.

Under the agreement, Metro, which operates the My Market chain in Attica and southern Greece, will attain a nationwide presence with the 180 Veropoulos supermarkets in 54 Greek towns and cities.

It will then have a total of 280 supermarkets and a potential turnover of over 1 billion euros per year.

Veropoulos will retain its 16 stores in Serbia and the Former Yugoslav Republic of Macedonia.