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MarketScreener Homepage  >  Equities  >  Xetra  >  Metro AG    B4B   DE000BFB0019


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Czech billionaire Kretinsky ups bet on retail with Sainsbury's stake

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09/17/2020 | 02:36pm EDT
FILE PHOTO: Outbreak of the coronavirus disease (COVID-19), in London

Czech billionaire Daniel Kretinsky has built a 3.05% stake in J. Sainsbury to become the UK supermarket group's fourth-largest shareholder, expanding a portfolio of retail investments that also includes France's Casino and Germany's Metro.

A regulatory filing on Thursday disclosed the stake held by Kretinsky's VESA Equity Investment and sent Sainsbury's shares more than 3% higher. At Wednesday's closing price, a 3.05% stake in Sainsbury's was worth about 125 million pounds.

Kretinsky, who built one of Europe's largest energy groups through more than a decade of deals, has been diversifying and scouring retail, media and other areas for investments.

"We view Sainsbury's as an attractive investment opportunity for the long-run even against the backdrop of the highly competitive UK grocery market," said VESA's investment director Branislav Miskovic.

"Sainsbury's is a strong traditional brand with good locations concentrated in the South East of England, including London and an attractive convenience as well as online food delivery proposition for its customers," he said in a statement.

VESA, controlled by Kretinsky and partner Patrik Tkac, raised its stake in French retailer Casino in March to 6.88%.

Another vehicle owned by Kretinsky, EP Global Commerce, is a major shareholder in German wholesaler Metro. It said on Sunday it was launching an offer to raise its stake in the firm from the current 19.99%.

VESA's portfolio also includes stakes in U.S. retailer Foot Locker Inc, data from Refinitiv Eikon shows. It took a 5% stake in department store chain Macy's Inc in May but reduced it shortly after and now holds 0.67%.

Kretinsky, the biggest shareholder in Britain's Royal Mail through VESA, has increased its investment in the postal company over the past few months, from around 4% in April to 13.1% as of July.

(Reporting by Yadarisa Shabong in Bengaluru and Jan Lopatka in Prague; Editing by Shinjini Ganguli and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
CASINO, GUICHARD-PERRACHON -1.65% 19.325 Real-time Quote.-53.66%
FOOT LOCKER, INC. -0.30% 36.88 Delayed Quote.-5.41%
J SAINSBURY PLC -0.25% 201.6 Delayed Quote.-12.31%
METRO AG -0.07% 8.42 Delayed Quote.-41.32%
ROYAL MAIL PLC -1.77% 227 Delayed Quote.0.31%
UNITED PARCEL SERVICE, INC. -2.63% 157.11 Delayed Quote.34.21%
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Sales 2020 25 715 M 29 945 M 29 945 M
Net income 2020 -72,6 M -84,6 M -84,6 M
Net Debt 2020 3 581 M 4 170 M 4 170 M
P/E ratio 2020 -41,4x
Yield 2020 7,27%
Capitalization 3 059 M 3 564 M 3 562 M
EV / Sales 2020 0,26x
EV / Sales 2021 0,24x
Nbr of Employees 90 883
Free-Float 43,7%
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Technical analysis trends METRO AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 11
Average target price 8,96 €
Last Close Price 8,42 €
Spread / Highest target 114%
Spread / Average Target 6,43%
Spread / Lowest Target -51,3%
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Juergen B. Steinemann Chairman-Supervisory Board
Philippe Palazzi Chief Operating Officer
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