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Legal Challenge Launched Against Metro Demerger: Source

By Steve Wynne-Jones
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Legal Challenge Launched Against Metro Demerger: Source

A legal challenge has been lobbed over German grocer Metro Group's demerger plans, a source knowledgeable about the matter has told Reuters.

More than 99% of group shareholders had voted to separate Metro's wholesale and hypermarket food retail business from Media-Saturn, the largest consumer electronics group in Europe. This change had been forecast to take effect by mid-2017.

The founder of the electronics giant, Erich Kellerhals, had previously said that he was considering a legal challenge to the proposed rupture.

The demerger would create ‘two strong and successful companies with a clear strategic focus’, the company said.

Reuters said that Kellerhals, who still owns 22% of Media-Saturn, regularly 'clashed' with Metro over business management.

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Metro and a spokesperson for Kellerhal's holding company declined to comment on the matter.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: The European Supermarket Magazine.

 

 

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