Hudson's Bay seen in lead to buy Metro's Kaufhof - sources

Thu Jun 11, 2015 9:48am EDT
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DUESSELDORF, Germany, June 11 (Reuters) - Canadian retailer Hudson's Bay is seen as in the lead in a bidding battle for Metro's department store chain Kaufhof, with a decision possible next week, according to sources familiar with the matter.

Metro said last month it was in talks about selling Kaufhof and repeated that conditions for a sale were an appropriate price, a convincing concept for the future of the chain, and solid financing.

Sources had previously told Reuters that Hudson's Bay had made a non-binding offer with a value similar to a separate bid made by Austrian investor Rene Benko, who offered 2.9 billion euros ($3.25 billion) for Kaufhof. ($1 = 0.8920 euros) (Reporting by Matthias Inverardi, writing by Emma Thomasson)