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Booker to buy rival Makro for £139m
German retailer Metro said it would sell its Makro UK stores to Booker Group in a deal valued at £139.7m.
Metro and Booker will combine their wholesale businesses to form a strategic partnership in the United Kingdom.
The German retail group will receive 9.99 per cent of Booker’s current issued share capital plus £15.8m in cash, Metro said in a statement.
Metro added that based on the current value of Makro UK it expects to book a negative non-cash impact on earnings before interest and taxes (EBIT) of around 200m euros.