BERLIN Dec 14 German retailer Metro
said on Wednesday its plans to split and spin off its food and
wholesale business from its consumer electronics unit will cost
100 million euros ($105.30 million), with 24 million euros of
that already incurred by Sept. 30.
Metro published hundreds of pages of documents on its
website detailing its plans ahead of a capital markets day on
It confirmed that it wants the consumer electronics unit to
keep a 10 percent stake in the new wholesale and food business
to strengthen its capital base, adding it was aiming for an
Metro also said the wholesale and food business would have
the rights to the Metro name, while the consumer electronics
group, which owns the Media Markt, Saturn and Redcoon brands,
would be renamed Ceconomy.
($1 = 0.9497 euro)
(Reporting by Emma Thomasson)