Electronics Production |
Metro Group and Foxconn in joint venture agreement
German based Metro and its sales division Media-Saturn has signed a joint venture agreement with the Chinese partner Foxconn Technology Group to expand their reach into the Chinese market.
This agreement has now also been confirmed by the supervisory boards of Metro and Media-Saturn, as well as Foxconn. With the entry of Media Markt into the Chinese market, Metro Group will further extend its strategic position in China.
Under the joint venture agreement, Metro Group holds 75 percent of the shares and Foxconn Technology Group 25 percent. Media-Saturn will be responsible for the strategic leadership and the operations of the joint venture. As an experienced local partner, Foxconn will support Media-Saturn in its market entry.
