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Proposed merger between Metro and local competitor Makro
Pakistan
Friday 22 July 2011
MD
Consolidation in the wholesale sector with the proposed merger between Metro and Makro-Habib Pakistan.
The company Metro Cash and Carry in Pakistan intends to combine its business with large local competitor Makro-Habib Pakistan Ltd.
Metro Group said it had begun talks for a merger with Makro-Habib Pakistan. The negotiations are already at an advanced stage and the broad terms have been agreed. The two companies are pending administrative and regulatory approvals.
Metro Cash and Carry arrived in Pakistan in 2007 and has five wholesale outlets: two in Lahore, one in Karachi, one in Islamabad and one in Faisalabad. Makro Habib Pakistan (joint venture between the Dutch Makro and Habib from Pakistan) has five stores, three in Karachi and two in Lahore.
source : bloomberg, the express tribune
