Ceconomy : New shareholder structure approved, recovery in Q2, cautious on H2
>Simplified shareholder structure to allow for synergies - During this week’s EGM, there was 98% approval for the acquisition of Convergenta's minority stake in MediaMarktSaturn by Cecocomy which is now the sole shareholder of MediaMarktSaturn. Consequently, Convergenta (Kellerhals family) will be the anchor shareholder of Ceconomy (c. 26% stake) and the transaction is expected to be completed in September 2022. The future shareholder structure will enable the use of ...Metro is a holding company. Through its subsidiaries, Co. is engaged in retail and wholesale. Co.'s operations are divided into four divisions: Metro Cash & Carry, Real, Media-Saturn and Galeria Kaufhof. The Metro Cash & Carry division operates in the cash and carry sector in Europe, Asia and Africa. The Real division is a hypermarket operator in Germany where it operates both stationary stores and an online store. The Media-Saturn division provides an assortment of brand products in consumer electronics retailing. The Galeria Kaufhof division operates department stores in Germany and Belgium. Co. is also a property manager through METRO PROPERTIES GmbH & Co. KG.
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