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EU: Metro exits UK wholesale market

Germany largest retailer Metro AG has announced earlier this week that it is to sell it is UK wholesale unit Makro. It is understood that the company is considering further sales as it tries to face the challenges of an unfavourable economic climate in Europe currently.

Booker Group is going to purchase the 30 stores, paying 15.8 million Pounds in cash and a 9.99% stake in the company to Metro.

CEO of metro, Olaf Koch, said the sale would allow Metro to concentrate on their activities in China, France, Germany, Italy, Poland, Russia, Turkey and Spain.

Source: economictime.indiatimes.com

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