German Metro to split into two companies - Share value soars

(Photo: metro.rs)

One of leading German retail chains, Metro, announced on Wednesday, March 30, 2016, that it will divide its business into two separate companies that will be listed at stock exchange, after which the value of its shares soared.

- Managing Board at Metro is preparing set up of two independent, sector-focused companies, through Group division – it was stated in the announcement reported by AFP.

Shares of Metro today were the winner of the day at the Frankfurt Stock Exchange, with a jump of more than 11.5% during daily trading session, to EUR 27.54.

According to the plan, wholesale and food business will be separated into an independent company, which will comprise brands of Metro" group - "Macro" and "Real", while consumer electronics and services will be concentrated at retail chains Media and Saturn.

The objective is that each company separately and their management is provided full control in terms of their corporate strategies.