Metro buys out Media-Saturn co-founder | RetailDetail

Metro buys out Media-Saturn co-founder

Metro buys out Media-Saturn co-founder

The founding Stiefel family sold its last stake of 2.97% in the electronics chain Media-Saturn to majority shareholder Metro for 230 million euros, significantly more than the market value of its shares. The only other stakeholder now is Erich Kellerhals, the other co-founder, with whom relations have been far from ideal.

Exit the penultimate co-founder

The Stiefel family was one of the co-founders of Media Markt / Saturn. In 2002, they insisted on getting a put option from metro, an option which they are exercising now. Yet the family is not about to disappear altogether from the company's radar, as Leopold Stiefel will continue to be active for the company as an advisor.


The 230 million euro for the family's stake of less than three percent would lift the total value of the company to 7.7 billion euro, more than Metro's total stock market value of around 7.5 billion. About a third of Metro's turnover derives from its electronics division.


Last man standing

The acquisition of the Stiefel family's shares further augments Metro's stake in Media-Saturn to 78.38%. The only other shareholder still left is co-founder Erich Kellerhals, not exactly Metro's best friend. In August 2012, Metro even went to court with Kellerhals in a quarrel about the rules by which the company should be managed: Kellerhals insisted on maintaining his veto.


His veto rights were agreed upon in 1988, when the founders sold the majority of their shares in Media / Saturn to Kaufman, that later merged with Metro. Kellerhals can therefore still influence most decisions, for instance concerning the launch of a new branch, the recruiting or dismissing of new directors, extending the webshop or altering the pricing policy.

Questions or comments? Please feel free to contact the editors

Media Saturn launches first checkout-free store in Austria


Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.

Media Markt unifies its online and offline pricing


Ceconomy will create uniformity between Media Markt and Saturn’s online and offline pricing. This will be possible thanks to the digital price tags it now uses in the stores, because there can be altered in real-time.

Smartphone sales drop for the first time ever


2017 may have been a record year for smartphone sellers, but the market is weakening: for the first time since 2004, there were fewer smartphone sales in the fourth quarter.

Merger paid off for Fnac Darty


French entertainment and electronics retailer Fnac Darty (owner of Belgian chain Vanden Borre and Dutch BCC) has experienced a “solid 2017”, with a nearly 40 % turnover increase.

Ceconomy finds growth online


Ceconomy, Media Markt and Saturn’s parent company, revealed a small turnover growth for its first quarter, thanks to improved online sales. Expectedly, its profit did drop.

Insurance company becomes second largest Fnac-Darty shareholder


There has been yet another thorough shake-up among Fnac Darty’s shareholders. The merger company, which owns Belgian electronics chain Vanden Borre and Dutch retailer BCC, will now welcome insurance company SFAM, after it bought investment fund Knight Vinke’s shares.

Back to top