Thai TCC Group, the largest investor in Berli Jucker Public Company (BJC) on January 7 completed procedures to acquire Metro Cash & Carry Vietnam from Germany’s Metro Group.
|A metro supermarket in HCMC (Photo: SGGP)|
TCC will pay EUR655 million (US$713 million) for all 19 Metro wholesale centers in Vietnam and other real estate.
Metro Cash and Carry Vietnam has operated in wholesale field since 2002. It has over 3,300 staff and one million regular customers now.
After the acquisition, the company will not be renamed and continue exploiting the potential consumer-goods sector in Vietnam.
Metro Cash and Carry Vietnam informed that BJC in August, 2014 had signed an agreement with Metro group to acquire the subsidiary.
However, the deal was later rejected by some BJC shareholders. So TCC Group has bought Metro Vietnam itself.