48. Events after the closing date
Between the closing date (30 September 2015) and the preparation of the consolidated financial statements (3 December 2015), the following events of material importance to an assessment of the earnings, financial and asset position of METRO AG and METRO GROUP occurred:
In August 2015, Media-Saturn-Holding GmbH signed an agreement on the purchase of a controlling interest (90 per cent of the shares) in RTS, a provider of customer and repair services. The acquisition was not finalised until 1 October 2015. As a result, the requirements for establishing a parent-subsidiary relationship by acquiring control prior to the closing date were not met. The RTS group will therefore only be included in the scope of consolidated companies in financial year 2015/16. The RTS group generated sales of €136 million last year and employed around 1,200 people.
On 16 November 2015, a non-controlling interest of 15 per cent in METRO Cash & Carry Romania was acquired from the minority shareholder Zareba Holdings Limited. The purchase price liability resulting from the transaction was already recognised as of 30 September 2015 in connection with accounting for put options, meaning that the ensuing payment will merely serve to reduce the balance sheet.