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5 months ago
Kellerhals has filed legal challenge against Metro split: source
March 8, 2017 / 3:37 PM / 5 months ago

Kellerhals has filed legal challenge against Metro split: source

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Shopping carts of Germany's biggest retailer Metro AG are lined up at a Metro cash and carry market in the western German city of Sankt Augustin near Bonn in this May 5, 2010 file photo.Wolfgang Rattay/File Photo

DUESSELDORF, Germany (Reuters) - Erich Kellerhals, the founder of Media-Saturn, has filed a legal challenge against plans by German retailer Metro MEOG.DE to split into two companies, a person familiar with the matter told Reuters.

Shareholders in Metro overwhelmingly voted last month to back a plan to split off the group's wholesale and hypermarket food business from Media-Saturn, Europe's biggest consumer electronics group, by the middle of the year.

Kellerhals, who still owns a stake of 22 percent in Media-Saturn, suggested last month he was considering a legal challenge against the split.

A spokesman for Convergenta, Kellerhals' investment vehicle, declined to comment. Metro also declined to comment.

Reporting by Matthias Inverardi; Writing by Christoph Steitz; Editing by Klaus-Peter Senger; and Ludwig Burger

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