Information  X 
Enter a valid email address
  Print      Mail a friend       More announcements

Friday 11 October, 2019

METRO AG

METRO AG sells majority interest in METRO China to Wumei Technology Group

DGAP-Ad-hoc: METRO AG / Key word(s): Disposal
METRO AG sells majority interest in METRO China to Wumei Technology Group

11-Oct-2019 / 14:45 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.


Today, METRO AG ("METRO") has entered into an agreement 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 includes 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 consists of (i) estimated net proceeds of more than 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 this transaction is 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


Language: English
Company: METRO AG
Metro-Straße 1
40235 Dusseldorf
Germany
Phone: +49 (0)211 6886-1524
Fax: +49 (0)211 6886-3759
E-mail: [email protected]
Internet: www.metroag.de
ISIN: DE000BFB0019, DE000BFB0027
WKN: BFB001, BFB002
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 889061

 
End of Announcement DGAP News Service

889061  11-Oct-2019 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=889061&application_name=news&site_id=financialexpress

a d v e r t i s e m e n t