METRO GROUP - METRO AG acquires majority shareholding in Primus-Online

Investor Relations

METRO AG acquires majority shareholding in Primus-Online

06/01/2000 cbi:///cms/162192

METRO AG acquires majority shareholding in Primus-Onlinecbi:///cms/162193

METRO AG extends internet operations cbi:///cms/162195
Following the successful introduction of the e-Commerce activities of METRO AG's Kaufhof Warenhaus AG and Cash & Carry businesses, as well as the diverse websites of the Group companies, METRO AG, Düsseldorf, has intensified its entrepreneurial involvement in the area of e-Commerce from the beginning of 2000. Accordingly, METRO AG has acquired 51 percent of Primus Online Handel und Dienstleistung GmbH & Co KG (Primus-Online), Cologne, and thereby has operative control. The Cologne-based internet company was a subsidiary of BHS AG, Baar/Switzerland, which now holds the remaining 49 percent. Dr. Hans-Joachim Körber, Speaker of the METRO AG Executive Board, explained the e-Commerce strategy of METRO AG concerning business-to-consumer, "Primus-Online will be managed as a separate business unit". The 51 percent shareholding in Primus-Online compliments the internet activities of METRO AG. As in its stationary retail businesses, METRO AG will allow and encourage competition among Group companies such as Media Markt, Saturn and Kaufhof in the scope of future e-Commerce business activities. At the same time, METRO AG's e-Commerce businesses will generate synergies by taking advantage of the proven operating service companies of METRO AG Group to support their internet businesses. These include the areas of purchasing, organization, distribution and technology (software and hardware).  cbi:///cms/162196
 

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