Investors from the Czech Republic and Slovakia want to take the subway «


EP Global Commerce presented to the shareholders of the German retailer Metro. Possible job losses after the acquisition will be denied.

09h28, June 22, 2019

The Metro retailer may face changes in its ownership structure © APA

Investors from the Czech Republic and Slovakia want to completely take over the Metro retailer in Düsseldorf. Its holding EP Global Commerce VI GmbH, headquartered in Grünwald, near Munich, presented a corresponding offer to all shareholders of Metro AG on Friday night.

For the common shares of the EP now offers 16.00 euros and for the preferred shares 13.80 euros, as the company announced. This corresponds to a premium of 34.5% on the recent price of the common shares of the Metro and a total value of all the shares of Metro of about 5.8 billion euros.

EP intends "Metro" in the adjustment necessary for the own
to support a developing market environment and therefore a success
future growth strategy, "they say.

Global Trade EP 53 percent of them belong to the Czech businessman Daniel Kretinsky and 47 percent to the Slovakian Patrik Tkac. In August 2018, the company bought 7.3% of the common shares of the subway of the Haniel family group in a first stage.

"It is not intended for existing existing Metro markets
in Germany or other central markets of the Subway Group
or reduce jobs on a larger scale, "says
Announcement of the acquisition offer. The Metro Group currently employs 150,000 people.

In the last quarter, the write-downs at the supermarket subsidiary Real had pushed the retailer Metro to the red. Metro wants to get rid of them, but so far there are no concrete sales plans. Metro AG emerged in 2017 from the spin-off of the Metro Group, as well as Ceconomy as the holding company of media retailers Media Markt and Saturn.

From minority shareholder to sole owner

According to Metro AG on its website, 10.91% were already owned by EP Global Commerce. The main shareholders are
As a result, Franz Haniel & Cie GmbH (15.2%),
Meridian Foundation (14.19%), Beisheim Holding (6.56%) and Ceconomy (6.39%). Free float, therefore, held 46.76%.

The takeover bid is subject to a minimum acceptance rate
but was not quantified by PE. That will be enough
to ensure the approval of an agreement of domination and transfer of profit and loss, was said only. Most 75 percent is needed at the Metro's annual general meeting.


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