The shareholders of the Metro Group have approved its demerger into two independent companies, with a near-unanimous vote at its Annual General Meeting.

Both companies have already been operating as independent entities since October 2016.  The vote formally approves the split of the group into the Metro (wholesale & food) and Ceconomy (consumer electronics) businesses, paving the way for independent listings on the stock exchange.

The group has said the move will help both companies to become “faster, more focused and more agile”. It will also result in the reconstitution of the Supervisory Boards of both companies.

Source: www.kamcity.com