Germany's Metro Considers Demerger
March 30 2016 - 2:48AM
Dow Jones News
By Friedrich Geiger
BERLIN--German retailer Metro AG said Wednesday it is
considering dividing into two independent listed companies, one for
its wholesale and food business and one for consumer
electronics.
The consumer electronics business, which includes the Saturn and
Media Markt retail chains, would remain part of Metro. The
wholesale and food business, as well as associated activities,
would be transferred to a separate entity through a demerger.
Shareholders would receive shares in the new company.
Metro's management board and supervisory board haven't yet made
a decision on the possible demerger, the company said. The boards
will make a final assessment after the completion of a continuing
review. If they decide in favor of a demerger, it would have to be
confirmed by a general shareholder meeting.
"The strategic and organizational focus of both independent
companies on their respective activities will open up new growth
perspective," Metro said about the reasons for a possible
split.
Write to Friedrich Geiger at friedrich.geiger@wsj.com
(END) Dow Jones Newswires
March 30, 2016 03:33 ET (07:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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