Germany's Metro in Talks to Float Russian Unit | Business | The Moscow Times:
"Europe's fourth biggest retailer Metro is talking to banks about an initial public offering of its Russian unit, sources said Tuesday, as it restructures its portfolio to cut its 6.3 billion euros ($8.5 billion) in net debt.
Market and banking sources said a stock offering for the Russian unit, which runs 70 big-box Cash & Carry outlets, could be worth more than $1 billion. Sources familiar with the matter said Metro would seek to keep a small stake in the business.
Sberbank and Goldman Sachs are likely to be working with Metro on the IPO, the sources said. A deal is not likely to happen this year, one said.
The company declined to comment. "We do not comment on market rumors," said a spokesman for Metro, which is based in Duesseldorf, Germany."
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