BERLIN—German retailer Metro AG MTTRY 2.78 % on Wednesday said it is considering dividing into two independent listed companies, one for its wholesale and food business and one for consumer electronics, prompting its shares to soar almost 10%.
The consumer electronics business, which includes the Saturn and Media Markt retail chains, would remain part of Metro. The wholesale and food business, as well as associated activities, would be transferred to a separate entity through a demerger. Shareholders would receive shares in the new company.
Metro’s management board and supervisory board haven’t yet made a decision on the possible demerger, the company said. The boards will make a final assessment after the completion of a continuing review. If they decide in favor of a demerger, it would have to be confirmed by a general shareholder meeting.
“The strategic and organizational focus of both independent companies on their respective activities will open up new growth perspective,” Metro said about the reasons for a possible split.
Write to Friedrich Geiger at [email protected]