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YHD - YHD Delayed price. Currency in USD
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  • EQS Group

    METRO AG concluded purchase agreement regarding Real with SCP Group

    METRO AG / Key word(s): Disposal/Agreement METRO AG concluded purchase agreement regarding Real with SCP Group 18-Feb-2020 / 21:01 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. * * *METRO AG ("METRO") concluded a notarized purchase agreement (signing) with The SCP Group S.à r.l. ("SCP Group") on the sale of the hypermarket business and related business activities ("Real").The contractual terms are fully in line with the parameters communicated on 11 February 2020: * Sale of Real as a whole without a remaining stake of METRO for an Enterprise Value of approx. EUR 1bn. * METRO expects a net cash inflow of approx. EUR 0.3bn. * METRO continues to expect to receive more than EUR 1.5bn in net proceeds including all transaction costs from the sale of both Real and a majority stake in the Chinese operations. * The expected excess capacity in METRO's service companies will be addressed by proactive efficiency measures, which will lead to recurring savings. These measures are estimated to cause approx. EUR 0.2bn cumulated one-off costs in the financial years 2019/20 to 2021/22.The purchase agreement is subject to the final approval by the board of directors of the stock listed Sistema PJSFC. The completion of the transaction is subject to approval by anti-trust and regulatory authorities. Contact: METRO AG Sabrina Ley Director Investor Relations * * *18-Feb-2020 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: 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: 978317 End of Announcement DGAP News Service

  • Reuters

    Germany's Metro to expect at least eight second-round bids for China unit: sources

    At least eight suitors are preparing second-round bids to buy a majority stake in German wholesaler Metro AG's Chinese operations, Reuters learned from people directly involved in the matter, as suitors vie for heft in a changing offline landscape. A deal could see Metro's China business valued at $1.5 billion to $2 billion, Reuters previously reported. Interest in Metro comes as a maturing e-commerce market and big-data capabilities transform China's traditional wholesale and retail sectors, with technology majors such as Alibaba Group Holding Ltd aggressively expanding offline.

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