Booker Group and Metro Group have revealed that they intend to combine Metro Group's UK wholesale business (Makro UK) with Booker to form a strategic partnership in the UK market.
Wellingborough-based Booker will acquire all 30 UK stores and all operational assets of Makro (Manchester).
In return, Makro's German parent company Metro Group will receive 9.99% of Booker's current issued share capital (diluted stake of 9.08%) plus £15.8m in cash.
The transaction, which is expected to be completed by the end of July, is subject to approval by Booker shareholders. Both companies expect to create additional value through strong competence sharing.
Source: Metro Group
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