Frankfurt, Oct 7 - A 5.2 percent stake in German retailer Metro AG owned by major investor Otto Beisheim Group was placed at 35 euros per share, a source close to the transaction said.
Traders said the entire placement was completed before the opening of the Frankfurt stock market this morning and the shares were bought by institutional investors.
Otto Beisheim said on Tuesday it would place up to 5.2 percent stake in Metro in a private acution and said Unicredit was acting as the sole bookrunner for the placement by way of an acclerated bookbuilding offering.
Unicredit declined to comment.
Otto Beisheim, which previously owned 18.5 percent in Metro, also said that a stake of around 10 percent would make strategic sense.
At 0856 GMT, shares in Metro were 2.9 percent lower at 37.27, making them the sharpest decliners among German large-cap stocks .GDAXI, after falling as low as 36.35 euros per share.