date:Nov 29, 2012
Germany investment company Franz Haniel Cie has said it will reduce its stakes in retail giant Metro Group in a bid to reduce debt.
The investment firm will reduce its interest in the German retailer by 4.24%, taking his shareholding from 34.24% to 30.01%, it said in a statement. It is also reducing its stake in drug wholesaler Celesio.
This is a decisive step for Haniel on its way to significantly reducing our net debt
position at holding level as previously announced, said Haniel CEO Stepha