METRO AG confirms far advanced negotiations with Wumei Technology Group regarding a sale of a majority interest in METRO China
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.deLanguage: English Company: METRO AG Metro-Straße 1 40235 Dusseldorf
Germany Phone: +49 (0)211 6886-1524 Fax: +49 (0)211 6886-3759 E-mail: firstname.lastname@example.org 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: 889005 End of Announcement DGAP News Service
889005 11-Oct-2019 CET/CEST