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Metro's $1.5 Billion China Sale Draws Tencent, Citic PE Interest

  • Food wholesaler’s Chinese unit also attracts Yonghui interest
  • First-round bids for controlling stake expected in April
A Metro AG store stands in Shanghai.

A Metro AG store stands in Shanghai.

Photographer: Qilai Shen/Bloomberg
Updated on

German food wholesaler Metro AG’s Chinese business has attracted potential bidders including internet giant Tencent Holdings Ltd. and domestic buyout firm Citic Private Equity, people with knowledge of the matter said.

Metro kicked off its sale of a controlling stake in the Chinese unit this month and first-round offers are expected to be submitted in April, according to the people, who asked not to be identified because the information is private. The business, which could fetch at least $1.5 billion, has also drawn interest from local supermarket operator Yonghui Superstores Co., the people said.