March 29, 2019 / 10:05 AM / 3 months ago

Haniel extends Kretinsky's stock option for its remaining Metro stake

BERLIN (Reuters) - German family-owned investment group Haniel has extended stock options it had granted Czech investor Daniel Kretinsky over its remaining 15.2 percent stake in Germany’s Metro, a spokesman said on Friday.

Haniel last year announced it would divest its stake in Metro in a move to diversify its portfolio, after it said that the development of the retailer’s share price was disappointing.

Haniel in October had transferred a 7.3 percent stake to an investor group acting as a vehicle for Kretinsky, after receiving antitrust clearance, adding competition watchdogs had given their approval for the whole stake of initially 22.5 percent they had held in the German retail company.

Reporting by Matthias Inveradi; Writing by Tassilo Hummel; Editing by Riham Alkousaa

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