- Portfolio strategy remains unchanged
- Financial market conditions not optimal
- Internal value creation feasible
METRO GROUP has suspended talks with interested parties for the takeover of its department store subsidiary, Galeria Kaufhof. This move was taken in view of the not optimal situation on the financial markets: "The present situation on the capital markets does not offer suitable conditions for such an important transaction", said Olaf Koch, CEO of METRO AG.
Regarding the suspended sale negotiations for the department store subsidiary Galeria Kaufhof, Koch underlined: "We have always stressed that a sale must reflect the potential of Galeria Kaufhof. Currently, the earnings potential can be better tapped by us than by a sale", said Koch. Therefore, METRO AG's Management Board decided to discontinue the divestment activities until further notice and work on further enhancing the value of Galeria Kaufhof. This decision will not change the existing portfolio strategy of METRO GROUP.