Demerger of METRO GROUP completed - New METRO and CECONOMY commence trading at the stock exchange tomorrow

12 July 2017

METRO GROUP has achieved its goal of demerging into two strong, successful and focused companies. The Local Court Düsseldorf as the court of registry has entered the demerger in the commercial register today. Thereby the demerger came into effect. Any lawsuits still pending against the demerger will now be dealt with by the courts, but no longer prevent the demerger.

The overwhelming majority of Metro shareholders had approved of demerging METRO GROUP into a wholesale and food specialist (new METRO) and an enterprise focused on Consumer Electronics (CECONOMY) at the Annual General Meeting in February 2017. The shares of both companies will commence trading separately at the stock exchange tomorrow.

"We have achieved our goal: The demerger of METRO GROUP is completed", says Olaf Koch, Chairman of the Management Board of the new METRO. "Tomorrow the new METRO will be listed at the stock exchanges in Frankfurt and Luxembourg, and the future CECONOMY will also be traded independently for the first time. A historic day - for our shareholders, our employees and our customers."

The admission of the shares of the new METRO for trading at the Frankfurt and Luxemburg stock exchanges will take place in the course of the day. The stock exchange admission prospectus of the new METRO had already been approved approximately two weeks ago by the German Federal Supervisory Authority for Financial Services (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin).

 

METRO is a leading international specialist in wholesale and food retail. The company operates in 35 countries and employs more than 150,000 people worldwide. In the financial year 2015/16, METRO generated sales of around €37 billion. The company provides custom solutions to meet the local and international needs of its wholesale and retail customers. With its sales brands METRO/MAKRO Cash & Carry and Real as well as delivery services and digitisation initiatives METRO sets the standards for tomorrow: for customer focus, digital solutions and sustainable business models. More information at www.metroag.de.

CECONOMY is the leading platform for companies, concepts and brands in consumer electronics in Europe. CECONOMY’s market position is based in particular on the strong brands Media Markt and Saturn. With more than 2 billion contacts per year, CECONOMY aims to give consumers a sense of orientation and offer them solutions for making the most of the opportunities innovative technologies offer. To this end, CECONOMY will seek to develop new concepts and business models that provide decisive added value for consumers and open up new economic potential for the success of the company and its shareholders. More information at www.ceconomy.de.