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German Wholesaler Metro Expects Multiple Second-Round Offers for China Unit: Reuters

By Tanner Brown / May 28, 2019 10:58 AM / Business & Tech

Photo: VCG

Photo: VCG

German wholesaler Metro AG’s Chinese operations are on the sales table once again, it seems.

Numerous interested parties are preparing second-round bids for the company, according a Reuters report that cited unnamed “people directly involved in the matter.”

Such a deal could value Metro’s China business at a minimum of $1.5 billion, multiple sources previously said.

The second push to sell off the China arm comes as e-commerce capabilities grow and tech giants move further into traditional brick-and-mortar spaces.

The rumored list of potential suitors for the possible sale included notable names: Alibaba, Boyu Capital, China Vanke, Hillhouse, Suning, Wumart, Primavera Capital, Yonghui Superstores and Tencent, Reuters said.

When might such a deal take place?

“Metro has asked a shortlist of bidders to submit non-binding offers by June 10,” the report said. “The whole process is likely to conclude in September.”

Related: New Chinese Investment in Germany Declines for Second Year

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