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MarketScreener Homepage  >  Equities  >  Xetra  >  Metro AG    B4B   DE000BFB0019

METRO AG

(B4B)
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Consortium including X+Bricks beefs up offer for Metro's Real hypermarkets

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11/21/2019 | 09:46am EST
Customers are seen at cash desk of Metro cash and carry store in Kiev

DUESSELDORF, Germany (Reuters) - A consortium seeking to buy German wholesaler Metro's Real chain has beefed up its offer for the hypermarkets, property investor X+Bricks, one of the bidders in the group, said on Thursday.

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.

The consortium offered Metro total cash proceeds of significantly more than 500 million euros ($554.15 million) for Real in July.

A spokesman for X+Bricks declined to comment on the amount of the new offer for the chain, which has around 34,000 employees.

Metro said the consortium had registered its interest in Real again and signalled it would improve its offer.

Metro also said it aimed to complete talks with real estate investor Redos, which is leading another consortium seeking to buy Real, in the coming weeks.

A Redos spokesman said it took note of the new offer from the X+Bricks consortium and would continue negotiations.

Metro said it was entering a decisive phase in negotiations on Real, which has been struggling for years in a fiercely competitive German market dominated by discounters Aldi and Lidl, and was optimistic that it would reach a decision soon.

(Reporting by Matthias Inverardi; Writing by Michelle Martin; Editing by Tassilo Hummel, Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
CECONOMY -0.64% 5.308 Delayed Quote.-1.81%
METRO AG 1.00% 13.195 Delayed Quote.-8.05%
METRO INC. -0.26% 54.47 Delayed Quote.1.90%
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Financials (EUR)
Sales 2020 27 663 M
EBIT 2020 466 M
Net income 2020 197 M
Debt 2020 1 665 M
Yield 2020 4,78%
P/E ratio 2020 24,0x
P/E ratio 2021 14,1x
EV / Sales2020 0,23x
EV / Sales2021 0,22x
Capitalization 4 791 M
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Mean consensus HOLD
Number of Analysts 15
Average target price 13,86  €
Last Close Price 13,20  €
Spread / Highest target 36,4%
Spread / Average Target 5,02%
Spread / Lowest Target -29,5%
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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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