CECONOMY : completes sale of its approximately 9 per cent METRO stake

CORPORATE NEWS

CECONOMY completes sale of its approximately 9 per cent METRO stake

Düsseldorf, 24 June 2019 - CECONOMY AG ("CECONOMY") has completed the structured sale of its approximately nine per cent stake in METRO AG ("METRO"). Back in September 2018, EP Global Commerce II GmbH ("EP Global") had acquired in a first step an approximately 3.6 per cent stake in METRO from CECONOMY. EP Global has now exercised its call option regarding the transfer of the remaining approximately 5.4 per cent. CECONOMY currently expects closing of the transaction to occur in the next days.

With the sale of this stake, CECONOMY further strengthens its balance sheet through the inflow of liquid funds. The parties agreed not to disclose the purchase price.

After completion of the transaction, CECONOMY will continue to hold a stake of approximately one per cent in METRO. This remaining stake will be held at least until 30 September 2023, for tax reasons.

About CECONOMY

CECONOMY AG empowers life in the digital world. It is leading for concepts and brands in the field of consumer electronics. The companies in the current CECONOMY portfolio have billions of consumer contacts per year and provide products, services and solutions that make life in the digital world easy and enjoyable, creating value for consumers and shareholders alike.

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