Deals
Metro to Leave Vietnam in $876 Million Berli Jucker Deal
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Metro AG agreed to sell 19 Vietnamese stores to a Thai distributor as the German retailer withdraws from the country, part of its strategy to sharpen its focus and invest in improving performance elsewhere.
Metro is selling its wholesale stores in Vietnam to Thailand’s Berli Jucker PCL for an enterprise value of 655 million euros ($876 million). Metro Chief Executive Officer Olaf Koch said the deal will “further strengthen our balance sheet” and allow the company to invest in growth.