Booker Group to buy rival Makro in a deal worth £139.7m

Makro's website
Image caption Booker hopes the deal to buy Makro will be backed by its shareholders

Food wholesaler Booker Group is buying rival Makro UK in a combined share issue and cash deal worth a total of £139.7m.

Booker is acquiring Makro UK from German owner Metro Group in exchange for new shares representing a 10% stake in Booker and a cash payment of £15.8m.

Charles Wilson, boss of Booker, said the deal would "improve choice, prices and service" for its customers.

Booker shareholders will be asked to vote on the deal next month.

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