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Businessman Ion Tiriac sells 15 pc stake in Metro Cash&Carry, out of ownership
Zareba Holdings Company Limited, registered in Cyprus and owned by businessman Ion Tiriac has sold to the German Metro Group its 15% stake in Metro Cash&Carry Romania, so that the German group now has full ownership over its subsidiary in Romania, romaniajournal.ro reports.
Communication and PR Director of Metro Cash&Carry Romania, Adina Timplaru said she cannot provide information about the transaction value, which was carried out in November.
According to a report by the German group, Zareba had a stake of 15% in Metro Cash&Carry Romania by late September.
Metro has entered the local market in 1996, through a partnership with Ion Tiriac. The minority shareholders of Metro Cash&Carry Romania in 2009 received the right to sell the German group holdings at a predetermined price (put option).