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Bulletin: Franz Haniel & Cie GmbH Ratings Unaffected By Acquisition Of Further Stake In Metro AG Aug 07
Standard & Poors, Aug 2007
Abstract
NEW YORK (Standard & Poor's) Aug 31, 2007--Standard & Poor's Ratings Services said today its corporate credit ratings on Germany-based holding company Franz Haniel & Cie GmbH (FHC; A-/Stable/A-2) are unaffected by today's announcement that FHC is building a 50.01% absolute majority in Metro AG (BBB/Stable/A-2) together with the Schmidt-Ruthenbeck family. FHC today announced is has acquired an additional 15.7% stake in Metro and now holds 34.2% of the voting stock of the Germany-based diversified retailer. FHC's stake, combined with the stake of Schmidt-Ruthenbeck family, effectively leads to control of Metro. FHC plans to use this position to help Metro AG to review, decide, and implement value-enhancing measures. Final details about the intended strategic steps to be taken at Metro...
Companies mentioned in this report are: Franz Haniel & Cie GmbH,Metro AG
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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