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MarketScreener Homepage  >  Equities  >  Xetra  >  Metro AG    B4B   DE000BFB0019

METRO AG

(B4B)
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Metro : Investor Redos notifies regulators about planned Real acquisition - sources

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10/02/2019 | 03:32pm EST
FILE PHOTO: German retailer Metro AG sign is seen on the headquarters in Duesseldorf

FRANKFURT (Reuters) - German real estate investor Redos has officially notified antitrust authorities about its intention to buy Metro loss-making Real hypermarket chain, people close to the matter said, in a sign that the deal is nearing completion.

Once a sprawling retail conglomerate, Metro has in recent years been restructuring to focus on its core cash-and-carry business, selling off the Kaufhof department stores and then splitting from consumer electronics group Ceconomy.

It has long sought to shed its Real hypermarkets chain, which has annual sales of more than 7 billion euros (6.24 billion pounds) but has struggled for years in a fiercely competitive German market, dominated by discounters Aldi and Lidl.

Metro entered exclusives talks with Redos in May and initially agreed to complete talks by the end of July but then extended that deadline to September.

The timeline was delayed to give a rival suitor, a consortium comprising property investor X+Bricks and SCP Group, the chance of making a bid for Real.

Redos aims to buy Real as a going concern but wants to sell some stores to competitors, with German chains, such as Edeka, Rewe and Kaufland, seen as possible buyers.

The investment vehicle of Czech businessman Daniel Kretinsky, who failed last month in a bid to buy Metro for 5.8 billion euros , has criticised Metro's plan to sell Real to Redos, saying the price was too low.

Metro declined to comment, while Redos was not immediately available for comment.

(Reporting by Matthias Inverardi; Writing by Arno Schuetze; Editing by Alexandra Hudson)

Stocks mentioned in the article
ChangeLast1st jan.
CECONOMY -2.14% 4.392 Delayed Quote.42.43%
METRO AG -0.47% 14.71 Delayed Quote.10.34%
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Financials (EUR)
Sales 2019 29 688 M
EBIT 2019 897 M
Net income 2019 482 M
Debt 2019 2 344 M
Yield 2019 4,60%
P/E ratio 2019 11,3x
P/E ratio 2020 14,5x
EV / Sales2019 0,26x
EV / Sales2020 0,25x
Capitalization 5 362 M
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Technical analysis trends METRO AG
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Average target price 14,59  €
Last Close Price 14,78  €
Spread / Highest target 28,6%
Spread / Average Target -1,26%
Spread / Lowest Target -26,9%
EPS Revisions
Managers
NameTitle
Olaf G. Koch Chairman-Management Board & CEO
Juergen B. Steinemann Chairman-Supervisory Board
Philippe Palazzi Chief Operating Officer
Christian Baier Chief Financial Officer
Florian Funck Member-Supervisory Board
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