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German retailer Metro may hold an initial public offering of its Russian subsidiary Metro Cash & Carry in London next spring. It may sell a 25 percent stake, two investment bankers who know about the retail giant’s plans told Vedomosti.
Currently, Metro searches for additional sources of financing to expand on the Russian market, the company said in its statement published on Tuesday. “One of such possible sources may be the stock offer of Metro Cash & Carry Russia’s minority share while keeping control over business in the long-term.”
Vedomosti recalled that Metro had opened its first hypermarket in Russia in 2001. At present, the German company has 70 small-scale wholesale centers in 45 Russian regions. Its revenues totalled around 4.12 billion euro in 2012, up by 20.4 percent year-on-year. The main clients of these hypermarkets are small shops, hotels, restaurants and cafes.
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