Metro plans to split to boost company’s value
German retailerMetro AG is splitting its food operations from its consumer-electronics unit, creating two distinct listed companies is a move to capture more. The separation will take place by the middle of next year. Real hypermarkets and Cash & Carry food wholesale stores would be spun off from theMediaMarkt and Saturn electronics chains. The retailer has spent four years cleaning up its portfolio by divesting assets in Greece, Turkey and Vietnam, culminating in last year’s sale of its Kaufhof department-store chain.