Baker McKenzie has advised METRO AG on the establishment of a strategic partnership with Wumei Technology Group (Wumei), a leading retailer in China. In the course of the transaction, METRO sells its entire stake in METRO China to an investment vehicle of Wumei against cash and a 20% stake in the resulting joint venture. The transaction is based on a total enterprise value of EUR 1.9 billion and is subject to customary government and regulatory approvals in China.

Baker McKenzie comprehensively advised METRO on all legal aspects of the complex transaction in China, Hong Kong and Germany. Particular focus was placed on the equity sale, preparatory reorganization measures as well as the legal structure of the future joint venture.

METRO is a leading international wholesale company with food and non-food assortments specializing on serving the needs of hotels, restaurants and caterers as well as independent traders. In addition, METRO also supports the competitiveness of entrepreneurs and freelancers with digital solutions and thereby contributes to cultural diversity in retail and hospitality. The company operates in 36 countries, has approximately 24 million customers and employs more than 150,000 people worldwide. In financial year 2017/18, METRO generated sales of EUR 36.5 billion. In relation to its retail chain Real with its 34,000 employees, METRO has initiated a structured sales process in September 2018.

Legal advisor to METRO AG:

Lead: Dr. Ingo Strauss (Partner), Dr. Heiko Gotsche (Partner, beide Düsseldorf), Howard Wu (Partner, Shanghai), Baker McKenzie

Team Greater China: Grace Tso (partner, Hong Kong), Ian Chen (registered foreign lawyer, Hong Kong), Harold van Kooten (project director, Hong Kong), Lei Ye (associate, Shanghai), Baker McKenzie; Frank Zhuang (partner, Shanghai), Leo Zhang (counsel, Shanghai), FenXun Partners, the Chinese law firm that Baker McKenzie partnered with to establish the Baker McKenzie FenXun (FTZ) Joint Operation

Team Germany:

Corporate/M&A: Christian Atzler (Partner, Frankfurt), Cosima König-Mancini, Dr. Kai Danelzik, Celina Zaim (Associate, Düsseldorf), Dr. Gerhard Hermann (Partner, Vienna)

IP: Dr. Michael Fammler (Partner), Andreas Jauch (Senior Associate), Dr. Markus Hecht (Senior Associate, Frankfurt)

Antitrust: Christian Horstkotte (Partner, Düsseldorf)

IT: Dr. Holger Lutz (Partner), Nadine Neumeier (Senior Associate, Frankfurt)

Financing: Dr. Oliver Socher (Partner, Frankfurt)



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