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From 872 million yuan! Metro China sells 10% stake

Winnie Lee 2019-12-25 18:01:55 2 2980

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Previously, three Chinese companies, including Shangcai Fresh, Wumart, and Suning Tesco, competed for the transfer of Metro's China business. According to reports, Metro has many expectations for the acquirer, including the hope that the acquirer can fill the shortcomings of Metro in the logistics field.

Recently, the Shanghai United Equity Exchange disclosed that Jinjiang Metro's Cash & Carry Co., Ltd. (Metro China) will sell 10% of its equity at a transfer price of 872 million yuan.

According to the information of the property rights project, of the existing equity interests in Jinjiang Metro's Cash & Carry Co., Ltd., Metro Cash & Carry Asia Pacific Holdings Co., Ltd. holds 90% of the shares, Jinjiang International (Group) Co., Ltd. holds 4.9% of shares New Long March (Group) Co., Ltd. holds 5.1%.

According to the industrial and commercial information of Catchao Cat, Jinjiang Metro Cash & Carry Co., Ltd. was established in July 1995 as a Sino-foreign joint venture limited liability company.

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As of now, Metro has 95 large-scale supermarkets in 59 cities in China, and its revenue last year reached 20.8 billion yuan.

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