Metro Group

After months of negotiations, Public, a company owned by Panos Germanos' Olympia Group, and MediaMarkt Hellas, a subsidiary of German group MediaMarkt-Saturn, on Tuesday announced they are forming a new venture, with Olympia holding a 75 percent stake and MediaMarkt-Saturn 25 percent.

German electrical goods chain Media Markt is reconsidering its position in the Greek market after 13 years in the country, as - despite signs of recovery in the local economy - parent company Ceconomy appears to have lost its patience with repeated annual losses by the chain and the failure to expand its market share.

Goldman Sachs was mandated by German retailer Metro, to find a buyer for real estate owned by the company in Romania and Bulgaria.

German retail and distribution giant Metro said on Tuesday it has agreed to sell its Greek cash-and-carry operations, Makro, to a local rival in a deal valued at 65 million euros.