VietNamNet Bridge – Metro Cash&Carry has reached an agreement to sell Metro Vietnam to Thailand’s Berli Jucker Group, according to the Wall Street Journal.

The American newspaper cited a source as saying that the Metro Group – the leading retail group of Germany - has achieved new progress in negotiations with Berli Jucker to sell the Cash & Carry Vietnam hypermarket chain at the price of $500 million.

Berli Jucker has pursued the acquisition of Metro Vietnam since last year. Metro Vietnam declined to comment on the information.

Earlier this year, Metro Group denied the deal with Berli Jucker. At the same time, a spokesman of the German retail group said its businesses in Vietnam is "not for sale".

The Metro Cash & Carry supermarket chain in Vietnam was launched in 2002, and currently there are 19 centers nationwide with approximately 4,000 employees.

In the fiscal year 2012-2013, Metro Vietnam earned about $692 million in revenue. With 750 shopping centers in 28 countries in Europe and Asia, the wholesale business of Metro Cash & Carry now accounts for half of the group’s revenue.

Earlier, Berli Jucker Corporation (BJC) partnered with Family Mart Vietnam after the Japanese partner withdrew entirely from this venture. The Family Mart Vietnam retail chain has been renamed B'mart, an old brand of BJC.

S. Tung