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RNS - METRO AG: Management Board and Supervisory Board of METRO AG decide to implement preparatory measures for a demerger of the METRO GROUP

Company: CECONOMY AG Date: 2016-09-05 Language: English Register to download

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 News Details

Ad-hoc | 5 September 2016 14:29

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METRO AG: Management Board and Supervisory Board of METRO AG decide to implement preparatory measures for a demerger of the METRO GROUP

**METRO AG  / Key word(s): Miscellaneous**

05.09.2016 14:29

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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After completion of its reviews into the matter, the Management Board of
METRO AG has decided, with the consent of the Supervisory Board, to
implement the measures necessary for preparing a demerger of the METRO
GROUP. It is planned to transfer the wholesale and food specialist
businesses and further related activities to an independent stock-listed
company, whereas the consumer electronics business will basically remain
part of today's METRO AG. It is intended to create new growth perspectives
by putting the strategic and organisational focus of the two independent
trading companies on their respective business activities.

The demerger is to take place by way of a spin-off in accordance with the
German Transformation Act (Umwandlungsgesetz). It is planned to submit the
demerger proposal for resolution to the next annual general meeting of
METRO AG. Each of the three major shareholders indicated to METRO AG that
each one of them wants to support the demerger process. The concept for
implementing the demerger has been agreed with the tax authorities.

The Management Board has further determined the assets to be separated from
METRO AG and has thus taken a decision on the capital structures of the two
future companies. It is intended to continue to achieve an "investment
grade" rating for both companies. It is not planned to increase the share
capital of METRO AG.

The current shareholders of METRO AG will presumably hold a share of about
90% in the new wholesale and food specialist business in proportion to
their current shareholdings. The remaining 10% share will be held by METRO
AG. It is planned to complete the demerger by mid-2017. All the shares of
the new wholesale company will be admitted to stock exchange trading upon
completion of the demerger.


METRO AG
Metro-Straße 1
40235 Düsseldorf
Germany
+49 (0)211 6886-1936
Fax: +49 (0)211 6886-3759
E-mail: investorrelations@metro.de


05.09.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Language:     English
Company:      METRO AG
              Metro-Straße 1
              40235 Düsseldorf
              Germany
Phone:        +49 (0)211 6886-1936
Fax:          +49 (0)211 6886-3759
E-mail:       investorrelations@metro.de
Internet:     www.metrogroup.de
ISIN:         DE0007257503, DE0007257537, Weitere: www.metro.de/investor
              relations
WKN:          725750, 725753, Weitere: www.metro.de/investor relations
Indices:      MDAX
Listed:       Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
              Regulated Unofficial Market in Berlin, Hamburg, Hanover,
              Munich, Stuttgart, Tradegate Exchange
 
End of Announcement                             DGAP News-Service
 
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