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Metro AG, otherwise known as Metro Group, is a German global diversified retail and wholesale/cash and carry group based in Düsseldorf.As of 2010, it was the fourth-largest retailer in the world measured by revenues (after Wal-Mart, Carrefour and Tesco).It was established in 1964 by founders Ernst Schmidt and Wilhelm Schmidt-Ruthenbeck (1906-1988). Otto Beisheim became CEO and Chairman of Metro.
In June 2009 it was reported that the company was looking to purchase some of the assets of Arcandor, after the firm filed for bankruptcy.[citation needed] They split off and floated their Praktiker division in December 2006, a DIY/home improvement chain with stores in several countries. |