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).