METRO AG

  • WKN: BFB001
  • ISIN: DE000BFB0019
  • Land: Deutschland

Nachricht vom 11.10.2019 | 12:42

METRO AG confirms far advanced negotiations with Wumei Technology Group regarding a sale of a majority interest in METRO China

METRO AG / Key word(s): Disposal
METRO AG confirms far advanced negotiations with Wumei Technology Group regarding a sale of a majority interest in METRO China

11-Oct-2019 / 12:42 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


METRO AG ("METRO") is in far advanced negotiations with Wumei Technology Group, Inc. ("Wumei"), a leading retailer in China, on a strategic partnership regarding METRO's operations in China ("METRO China"). This partnership would include the sale of METRO's entire indirect participation in METRO China to a subsidiary of Wumei ("Buyer") for an enterprise value (100%) of approx. EUR 1.9 bn. The consideration would consist of (i) estimated net proceeds of approx. EUR 1.0 bn and (ii) a participation of METRO of approx. 20% in the Buyer as future holding company of METRO China.

The completion of the potential transaction would be subject to approval by regulatory authorities.
 

Contact:
METRO AG
Sabrina Ley
Director Investor Relations

11-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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