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German Retail Giant Metro Started Exiting China

Well-known Chinese news site Sina recently reported that the German retailer Metro AG kicked off its process of exiting the Chinese market. Metro has issued invitations to buyers. The Chinese market portion of the retail chain has an estimated value of US$1.5 to US$2 billion. Sources said Metro planned to sell most of the shares of its Chinese operation. It currently has 95 retail locations in China and owns real estate in Beijing and Shanghai. The move is considered part of Metro’s global restructuring effort. Online commerce newcomers have been challenging China’s traditional retail and wholesale segments. A large portion of Metro China’s valuation is in real estate holdings. All potential buyers have declined to comment on this matter. Metro AG’s official position is that the company will be collaborating with its partners on future developments.

Source: Sina, March 20, 2019