The European Commission has approved privately-owned holding company Haniel’s move to take sole control of Metro Group, Germany’s biggest retailer.
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Haniel already holds a large stake in Metro and will now acquire full control through a pooling arrangement with fellow shareholder Schmidt-Ruthenbeck.
The European Commission’s competition authority said that the deal would not harm competition in athe European economic area.
Haniel is a family-owned business, active worldwide in a variety of industries, in particular trading raw materials for the steel industry, the production of construction materials and the wholesale of pharmaceutical products, textile and washroom hygiene services.
“The Commission’s investigation found that the overlap of activities between Haniel and Metro is small and concerns the sale of professional clothing,” the Commission said in a statement yesterday (9 October).
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By GlobalDataA spokesperson for Metro told just-food that it is “business as usual” for the retailer but declined to comment further on the deal.
