Metro AG and Costco in opposite moves in China

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14 November 2019 à 15h06

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1 minute

Publication: 14 November 2019 à 15h06

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Publication

14 November 2019 à 15h06

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1 minute

Publication: 14 November 2019 à 15h06

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The German wholesale retailer Metro AG agreed to sell a majority stake in its Chinese operations to Wumei Technology, which owns 1,000 stores (under the Wumart brand notably) with annual sales of €6.4 billion. Metro China was valued approximately €1.9 billion for a portfolio of 97 stores in 59 Chinese cities and associated property in Beijing, Shanghai, etc. In 2018, Metro’s sales reached €2.7 billion in China via 17 million subscribers.

The German retailer will retain 20% of the joi

…
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