Demerger of METRO GROUP completed - New METRO and CECONOMY commence trading at the stock exchange tomorrow
12 July 2017METRO GROUP has achieved its goal of demerging into two strong, successful and focused companies. The Local Court Düsseldorf as the court of registry has entered the demerger in the commercial register today. Thereby the demerger came into effect. Any lawsuits still pending against the demerger will now be dealt with by the courts, but no longer prevent the demerger.
The overwhelming majority of Metro shareholders had approved of demerging METRO GROUP into a wholesale and food specialist (new METRO) and an enterprise focused on Consumer Electronics (CECONOMY) at the Annual General Meeting in February 2017. The shares of both companies will commence trading separately at the stock exchange tomorrow.
"We have achieved our goal: The demerger of METRO GROUP is completed", says Olaf Koch, Chairman of the Management Board of the new METRO. "Tomorrow the new METRO will be listed at the stock exchanges in Frankfurt and Luxembourg, and the future CECONOMY will also be traded independently for the first time. A historic day - for our shareholders, our employees and our customers."
The admission of the shares of the new METRO for trading at the Frankfurt and Luxemburg stock exchanges will take place in the course of the day. The stock exchange admission prospectus of the new METRO had already been approved approximately two weeks ago by the German Federal Supervisory Authority for Financial Services (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin).
This investor news may contain forward-looking statements based on current assumptions and forecasts made by Metro management and other information currently available to METRO. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. METRO does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
