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Haniel transfers stake in Germany's Metro to EP Global

German investment company Haniel Finance Deutschland GmbH said Oct. 4 that it transferred a 7.3% stake in German hypermarket and food retailer Metro AG to EP Global Commerce GmbH.

The move was made following antitrust clearance for a sale agreement made in August. That approval allows the transfer of up to 22.5% of ordinary shares in Metro.

EP Global has an additional call option to purchase up to 15.2% of Metro shares still held by Haniel, which said it currently is the retailer's largest single shareholder.

Financial details of the stake sale were not disclosed.

Haniel, a subsidiary of Franz Haniel & Cie. GmbH, also noted that its stake in German consumer electronics retailer Ceconomy AG was not affected by the deal. Ceconomy recently agreed to sell its stake in Metro to EP Global's sister company EP Global Commerce II GmbH.