Europe - EN
België - NL
Nederland - NL
España - ES
France - FR
The plans to split Metro Group into two separate companies, with a spin-off focused on the consumer electronics activities, have been approved by the board.
No additional capital
In order to support the consumer electronics division, it will maintain a 10 % share in the remainder of the company, which should help strengthen its financial foundation. Analysts had forecast Metro Group would need up to 900 million euro in additional funds to enable the split, but it now turns out the company will not need any additional means.
If required, the consumer electronics division could still sell its 10 % stake in the future, which gives it a means to acquire additional money without the need for shareholders’ approval. All options remain on the table this way.
Metro Group expects to finalize the split mid-2017, although the pro forma split will already be done on 30 September 2016. At that time, most of the debt will move into the new wholesale and food company.
