Wumei to acquire a 80% stake in Metro China.

Wumei Technology Holdings, a Chinese operator of supermarkets and departmental stores, is set to acquire an 80% stake in Metro China operations from Metro, a food products wholesaler and retailer. “After assessing various options, we have chosen a path that will further strengthen Metro China’s role for consumers. We welcome the investment of the new majority owner for Metro China, who shares our values and is committed to building on our track record and footprint in China. This transaction also forms a strategic partnership that will result in greater competitive advantages for METRO China." Olaf Koch, Metro CEO.