German Metro Group is looking for small and medium-sized enterprises to acquire, as it is currently sitting on a lot of funds, coming in part from the Galeria Kaufhof sale.
No actual plans yet
All in all, Metro Group has a cash reserve of about 2 billion euro, which it intends to use for possible acquisitions. It will not focus on large companies, but wants to look at smaller acquisitions, according to CEO Olaf Koch's statements to Reuters. He immediately added there were no actual acquisition targets so far.
The German group managed to gather such a large sum of money thanks to its sale of German department store chain Galeria Kaufhof, in addition to its Vietnamese activities.
Metro Group had already invested in Dutch iBood.com, which became part of its subsidiary Media Saturn Holding since April. The online platform used the additional funds to innovate its website completely, to better prepare its international expansion.