Duesseldorf, Sept 22 - German retailer Metro is preparing the potential sale of its Kaufhof department store chain, a person familiar with the situation said on Monday.
Adviser JP Morgan has sent information packets to potential buyers, the person said, noting the sale process had gained momentum compared with just a few months ago.
A Metro spokesman confirmed only that JP Morgan was advising Metro on its options for Kaufhof.
"Metro has not started a sale process for Kaufhof," he said. "We are not under any time pressure."
Metro Chief Executive Eckhard Cordes said said he is prepared to sell Kaufhof if he can get a good price. Industry sources said he was aiming to sell it for around 3 billion euros ($4.38 billion) -- roughly 1 billion for the operations and 2 billion for the real estate.