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Metro AG in talks to sell Praktiker DIY chain
Home Channel News
Wednesday, October 12, 2005
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Metro AG, Germany's largest retailer, is in talks to sell its Praktiker DIY chain to British private equity firm Permira, according to a Reuters report. Permira may have exclusive buyer rights for the 340-store chain in a deal struck with Metro, sources told Reuters.
Just weeks ago Metro AG said it would spin off Praktiker through an initial public offering this November.
Praktiker operates 340 stores in nine countries, including 280 in Germany. Metro recently announced plans to open its first seven Praktiker stores in the Ukraine beginning next year with a location in Kiev.
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