Metro - Acquisition Of The Seven Eleven Convenience Store Chain
METRO CASH AND CARRY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/021315/06)
Share Code: MTC ISIN Number: ZAE000012688
("Metro")
Metro has concluded an agreement with the Hadjidakis family for the acquisition
of the entire franchise interests in the Seven Eleven ("Seven Eleven")
convenience store chain, subject to the fulfilment of certain suspensive
conditions which are currently receiving the attention of the respective
parties. These conditions include:
- the completion of a due diligence investigation;
- the discharge of the 2 Seven Eleven companies from provisional liquidation;
and
- approval of the transaction by the required regulatory authorities,
including the Competition Commission, where applicable.
Although the transaction will have no material effect on either Metro"s net
asset value or earnings per share, it will nonetheless still contribute to group
earnings.
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