METRO GROUP and Media-Saturn evaluate strategic options for Saturn stores in France

29 October 2010

METRO GROUP and its subsidiary Media-Saturn-Holding GmbH are currently evaluating their strategic options for the consumer electronics business in France. One of these options is the sale of some or all stores to investors. Talks have been started with HTM Group as a potential investor. Other options include the agreement on strategic partnerships as well as to go forward with a new growth strategy. At this point in time, the outcome of the strategic assessment is completely open. 

Media-Saturn currently operates 34 stores under the brand name "Saturn" in France. The assessment will be focused on a solution that is in the best interest of the employees. Talks with the responsible employee representatives have been started. 

The assessment of strategic options for Saturn is in line with METRO GROUP's long-term profitable growth strategy. Retailing consumer electronics in France is still affected by a very challenging economic environment. 

With a net revenue of 19.7 billion Euros and a headcount of more than 60.000 in 2009, Media-Saturn Group, in which METRO AG has a majority shareholding, is Europe’s leading consumer electronics retailer and currently operates 852 stores in 16 European countries. 

METRO GROUP is one of the largest and most international retailing companies. In 2009 the Group reached sales of around € 66 billion. The company has a headcount of some 290,000 employees and operates more than 2,100 stores in 34 countries. The Group's performance is based on the strength of its sales brands which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, Real hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores.