Baker & McKenzie Guides Deal Valuing Metro China At $2.1B

Law360 (October 11, 2019, 6:48 PM EDT) -- German retailer Metro said Friday it will sell a majority stake in its Chinese operations to Wumei Technology Group with help from Baker & McKenzie LLP in a deal that values Metro China at about €1.9 billion ($2.1 billion).

Metro AG will sell its entire stake in Metro China to Wumei, then take a 20% stake in a resulting joint venture with the Chinese retailer, the announcement said. Metro said the deal will allow it to focus on its wholesale business while keeping its toes in Chinese markets.

Metro operates an international wholesale business for food and non-food products that focuses...

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