METRO AG

M&A Activity • Oct 11, 2019

News Details

Ad-hoc | 11 October 2019 14:45

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

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.

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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

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

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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:	investorrelations@metro.de
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