News Column

Metro AG retailer to list Russian subsidiary in April.

February 26, 2014

German retailer Metro AG is going to hold an IPO of its Russian subsidiary in the second half of April, Prime reports citing an interview of CEO Olaf Koch to German press. Previously, the company announced its plans to list up to 25% of Russian "cash & carry" subsidiary in London in H1/14. The IPO might take place at the same time as an offering of other Russian retailer Lenta.

Metro Cash & Carry operates in Russia since 2000. Russian unit of Metro in 2012 recorded sales of EUR 4.12bn. Previously, Reuters estimated the offering at USD 1bn. It reportedly might be organised by Goldman Sachs and Sberbank CIB. Analysts surveyed by Prime valued Metro at EUR 4bn-EUR 7.5bn and the offering at EUR 1bn.

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Source: IntelliNews - Weekly Reports

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