DGAP-Adhoc: METRO AG: Management Board and Supervisory Board of METRO AG decide to implement preparatory measures for a demerger of the METRO GROUP
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DGAP-Ad-hoc: METRO AG / Key word(s): Miscellaneous 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
05-Sep-2016 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | METRO AG |
| Benrather Straße 18-20 | |
| 40213 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 6886-1050 |
| Fax: | +49 (0)211 6886-5500 |
| E-mail: | [email protected] |
| Internet: | www.metrogroup.de, www.ceconomy.de |
| ISIN: | DE0007257503, DE0007257537, Weitere: www.ceconomy.de/de/investor-relations/ |
| WKN: | 725750, 725753, Weitere: www.ceconomy.de/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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498891 05-Sep-2016 CET/CEST
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