Metro

The food wholesaler Metro is ending its business in Kazakhstan after nearly two decades and will close six wholesale markets and its supply operations by the end of March 2027. Around 650 employees are affected. Metro cites difficult long-term growth prospects as the reason; the business generated about €143 million in revenue in 2024/25 (0.4% of group sales). The company emphasizes that the decision was made independently of recent developments in Russia. » More on finanzen.net

The Russian government has placed Metro’s national subsidiary under temporary forced administration with immediate effect and transferred operational control to the newly registered company UK Torg RUS, which was registered a few weeks earlier by Johannes Tholey. Tholey, formerly CEO of Metro Russia, is now named in the leadership role, raising questions about possible ties to the Kremlin and the circumstances of the company’s formation. Metro says it no longer has access to the national subsidiary; the Russian business recently accounted for about ten percent of group revenue and more than 15 percent of Metro’s EBITDA. The development coincides with a CEO change in Düsseldorf and the majority takeover by Daniel Křetínský, sharpening Metro’s strategic situation. » More on wiwo.de

By presidential decree Metro’s assets in Russia were transferred to the newly formed company UK Torg RUS, which reports say belongs to German manager Johannes Tholey. Metro said it remains the formal owner but has “no operational control” over the Russia business. The move follows a series of similar transfers of foreign companies in Russia, even though Metro recently generated high profits there and employs about 9,000 people. » More on faz.net