Metro to sell majority stake in Chinese business to Wumart

) has agreed to sell a majority stake in its Chinese operations to local retailer Wumart, continuing a drive to simplify its business and focus on its core customers in the hospitality industry.

Metro said on Friday the deal, which confirms an earlier Reuters story, gave the Chinese unit an enterprise value of 1.9 billion euros and that the German group would retain a 20% stake in a joint venture called Metro Wumart China. Once a sprawling retail conglomerate, Metro has in recent years been restructuring to focus on its European cash and carry business supplying hotels, restaurants and cafes.

The business made earnings before interest, tax, depreciation and amortisation of 153 million euros in fiscal 2017-18.Metro said its involvement in the joint venture would allow it to explore various strategic partnership opportunities with Wumart’s parent Wumei and its technology partner Dmall, “particularly in terms of international sourcing of goods.

Deals in the world, they are not interested at regional produced products. Globals players only

There is a wumart? omg lol Chinese love to piggyback on US companies names, technology....everything, actually the technology they steal.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

More Hong Kong protests planned as metro limps back to businessHong Kong's metro rail system will shut early again on Thursday to allow ti... The world should pay close attention to the social movement in Hong Kong，because it is a revolutionary social movement that is unique and has a major impact on the international environment.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »

Uber buys majority stake in online grocery provider Cornershop - Business InsiderUber is buying a majority stake in online grocery provider Cornershop as the ride-hailing giant looks to expand its fast-growing delivery service They haven't gotten their massive sexual assault of patrons dealt with, and their impotent vetting process is laughable. Zero confidence in them, millions of woman refuse to use Uber. Fix it.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

More Hong Kong protests planned as metro limps back to businessHong Kong's metro rail system will shut early again on Thursday to allow ti... The world should pay close attention to the social movement in Hong Kong，because it is a revolutionary social movement that is unique and has a major impact on the international environment.
Fonte: Reuters - 🏆 2. / 97 Consulte Mais informação »