Metro Alliance To Manage Sale Of 120 Franklins Sto
METRO CASH AND CARRY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021315/06)
("Metro")
Metro in strategic alliance to manage sale of 120 Franklins stores in Australia
Metro's Australian subsidiary, Metcash Trading Limited Australia, is expected
to increase its wholesale grocery sales volume by more than R4.8 billion per
annum through a strategic alliance ("the alliance") signed today with
Franklins, the Australian subsidiary of Dairy Farm International.
Dairy Farm International has announced that it wishes to exit the Australian
market via a managed sell-down of Franklins. The alliance will manage the
progressive sale of approximately 120 Franklins stores in New South Wales,
Victoria and Queensland, and will also facilitate the sale of further Franklins
stores in South Australia to independent grocery retailers.
The alliance agreement is subject to clearance by the Australian Competition
and Consumer Commission.
The benefit of the alliance on a consolidated turnover level is expected to be
material and has no gearing effect on the balance sheet of Metro.
Rand Merchant Bank
Corporate Finance
A Division of FirstRand Bank Limited
Sponsor
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