Metro employs about 146,000 people.
June 22, 2019 at 7:18 pm TASR
GRÜNWALD / Dusseldorf. Daniel Křetínský and Patrik Tkáč want to take over the business of German Metro companies.
EP Global Commerce (EPGC), which owns Křetínský (53%) and Weaver (47%) and is based in Grünwalde near Munich, has submitted an offer for a full acquisition of Metro on Friday (June 21).
Employs more than 146,000 people
The Metro, which has long been in crisis, employs about 146,000 people. EP Holding said it did not plan to restructure the Metro radically.
"We do not intend to close existing businesses in the Metro in Germany or in other key Metro Group markets, nor abolish jobs," he said. Existing agreements or tariff agreements in Germany should not be abolished either.
According to the Metro AG website, the EP currently holds 10.91% of the Group. Through the purchase of shares and options, the EP has already guaranteed access to more than 30% of the shares.
The objective of the offer is to provide EP Global Commmerce with the total operational control of the Group.
The EP offers 16 euros for Metro AG's common shares and 13,800 euros for the priority share. The group's offer is valued at 5.8 billion euros. The EP, in its own words, has "full support for the main shareholder of Haniel", which holds 15.2% of Metro AG.
Sale of Stocks
German concern was that the board and the supervisory board would carefully examine the offer and take a position on it after presenting the treasury.
It recommended that shareholders not sell their shares to the EP or to persons acting on behalf of the holding before the publication of this opinion.
In addition to Franz Haniel & Cie GmbH, other major shareholders are Metra Meridian Stiftung (14.19%), Beisheim Holding (6.59%) and Ceconomy (6.39%).
"They have made great changes and are doing a remarkable job in these difficult times, but they deserve the best long-term strategy and will benefit from the long-term recovery and growth of Metro "said Křetínský.