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Metro to possibly delay selection of Kaufhof buyer
Wednesday 14 December 2011

14 December 2011 - German retailer Metro AG's (ETR:MEO) supervisory board will not select a buyer for department store chain Kaufhof at its meeting on Friday, as it is waiting for further information on the bid from Austrian investor Rene Benko, Reuters reported today, citing several informed people.

Metro's board is also worried about a money-laundering investigation at Benko's group Signa, one source told the news agency.

Nicolas Berggruen, who owns domestic rival chain Karstadt, has also shown interest in the chain, Reuters said.

Metro has valued Kaufhof at between EUR2bn (USD2.6bn) and EUR3bn.
Date Published: 14/12/2011
Target: Kaufhof GmbH
Country: Germany
Sector: Wholesale/Retail
Type: Divestment
Status: Bidding
Vendor: Metro AG
Buyer: Nicolas Berggruen, Rene Benko, ´s Signa group
Targeted price is up to USD3.9bn.