METRO GROUP confirms timetable for listing of future METRO AG despite shareholders’ suits

Following the Annual General Meeting of METRO AG where the shareholders of METRO AG almost unanimously agreed to the demerger of METRO GROUP into two strong, successful and strategically focused companies, individual shareholders have initiated suits against this at the district court (Landgericht) of Düsseldorf. In total, four suits have been served to METRO AG. Despite these suits METRO GROUP is maintaining the current timetable for the completion of the demerger as well as for the listing of the shares in the future METRO AG planned for mid-year.

"The shareholders of METRO AG, at the Annual General Meeting, approved the plans for the demerger of METRO GROUP with 99.95% of the voting capital represented", says Olaf Koch, Chairman of the Management Board of METRO AG. "We consider ourselves well-prepared for any legal dispute. We continue to expect that the demerger will become effective in mid-2017."

 

METRO GROUP is one of the most important international retailing companies. It generated sales of some €58 billion in financial year 2015/16. The company operates at more than 2,000 locations in 29 countries and employs some 220,000 people. The performance of METRO GROUP is based on the strength of its sales brands, which act independently on the market: METRO/MAKRO Cash & Carry, the international leader in the self-service wholesale trade; Media Markt and Saturn, the European market leader in consumer electronics retailing; and Real hypermarkets.

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