DGAP-Adhoc: METRO AG confirms far advanced negotiations with Wumei Technology Group regarding a sale of a majority interest in METRO China
DGAP-Ad-hoc: METRO AG / Key word(s): Disposal
METRO AG confirms far advanced negotiations with Wumei Technology Group regarding a sale of a majority interest in METRO China
11-Oct-2019 / 12:42 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") 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.
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.
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889005 11-Oct-2019 CET/CEST