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METRO Group to evaluate strategic options for Praktiker

20.06.2005

METRO Group to evaluate strategic options for Praktiker

Alternatives for consideration include a divestiture of the company as well as a potential listing of a majority stake through an initial public offering ("IPO"). The review may also conclude further development of the business within METRO Group as the most promising option. JPMorgan is supporting METRO Group in the process of evaluating these different options.

"Based on the successful repositioning and sustainable profitability improvements of its German operations, as well as the achievement of leadership positions in high-potential markets in Eastern Europe, Praktiker is now excellently positioned for further growth either within METRO Group or on a stand-alone basis", Dr. Hans-Joachim Körber, CEO of the METRO Group stated. "The evaluation of different strategic options is in line with Metro Group's announced long-term strategy for Praktiker and demonstrates the successful repositioning of Praktiker by its management team."

Praktiker Group is one of the leading European DIY operators with sales of around EUR 3 billion and an operating profit of EUR 59 million in 2004. Further growth and profitability improvements are expected for 2005. As of March 2005, Praktiker operated 339 home improvement and DIY centers in nine European countries. 22% of the Group's total revenues were generated in the high-growth Eastern European markets. 

With sales of € 56.4 billion (2004) METRO Group is the world's third largest retailing group. The company has a headcount of more than 250,000 employees and operates around 2,400 locations in 30 countries. The operating business is performed by the sales divisions which operate independently in their respective markets: Metro/Makro Cash & Carry – world market leader in cash & carry wholesale, Real hypermarkets, Extra supermarkets, Media Markt and Saturn – the European market leader in consumer electronics centers, Praktiker home improvement and DIY centers, and Galeria Kaufhof department stores.

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