DGAP-Ad-hoc: METRO AG / Key word(s): Disposal
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.
Director Investor Relations
11-Oct-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Phone:||+49 (0)211 6886-1524|
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|EQS News ID:||889061|
|End of Announcement||DGAP News Service|
889061 11-Oct-2019 CET/CEST