Metro Launches Kaufhof Due Diligence, Management Talks Planned
28 Mai 2010 - 5:05PM
Dow Jones News
German retailer Metro AG (MEO.XE) has launched a due diligence
process for possible bidders interested in its Kaufhof department
store chain, a Metro spokesman said Friday.
Further talks between management and potential bidders are
expected to follow shortly, Metro said.
Potential bidders have been asked to signal interest by June 7,
a person familiar with the matter said. However, the timing will
depend on negotiations to sell Kaufhof rival Karstadt, which is
undergoing a forced sale mandated by its insolvency
administrator.
Metro has repeatedly stated that it faces no time pressure to
sell Kaufhof.
-By William Launder; Dow Jones Newswires; +49 69 29 725 515;
william.launder@dowjones.com
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