August 24, 2018 / 5:46 PM / a month ago

Haniel to sell Metro stake to EP Global Commerce

FRANKFURT, Aug 24 (Reuters) - Family-owned German investment group Haniel has agreed to sell a 7.3 percent stake in retailer Metro AG to the Czech Republic’s EP Global Commerce (EPCG) for an undisclosed sum, it said on Friday.

Under the terms of the deal, EPCG can acquire Haniel’s remaining 15.2 percent stake under a call option. Haniel is Metro’s largest shareholder with 22.5 percent, which is worth 977 million euros ($1.12 billion) at Friday’s closing price. ($1 = 0.8744 euros) (Reporting by Christoph Steitz Editing by David Goodman)

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