EP Global Commerce II GmbH acquires approx. 9 per cent of shares in METRO AG from Ceconomy AG
20. 9. 2018
EP Global Commerce II GmbH (EPGC II), indirectly wholly owned by entrepreneurs Daniel Kretínský and Patrik Tkáč, signed an agreement with Ceconomy AG (Ceconomy) to acquire their approximately 3.6 per cent stake in METRO AG. In addition, EPGC II has agreed with Ceconomy on an option scheme regarding the acquisition of additional approximately 5.4 per cent of the shares in METRO which is expected to be exercised within nine months.
“We are very excited to become a strategic shareholder of METRO AG, thanks to this transaction with Ceconomy, in combination with the previous transaction entered into between Haniel Group and our affiliate EP Global Commerce GmbH (EPGC I). We want to sincerely thank Ceconomy for selecting us as their partners in this acquisition and for the constructive and trustful negotiations,” said Daniel Křetínský.
Including the shares acquired from Haniel Group on August 24th, 2018, Daniel Křetínský and Patrik Tkáč will indirectly own approximately 10.9 per cent of METRO AG upon closing of both transactions following regulatory approval. This significant investment reflects their strong interest in the future development of METRO AG as responsible long-term oriented investors, with the goal to contribute to a positive development of METRO AG, to the benefit of all stakeholders.
EPGC I, the sister company of EPGC II and indirectly owned by the same entrepreneurs, already has a call option for up to approx. 15.2 per cent of Haniel’s shares in METRO AG. Therefore, in combination with the option scheme for approx. 5.4 per cent of Ceconomy’s shares in METRO AG, EPGC I and EPGC II have the full flexibility to further increase their stake in METRO AG in a way to reach the threshold of 30% of the outstanding voting rights in METRO AG or stay below such threshold.
“METRO AG is a strong brand and established player that operates in a very dynamic market environment. We believe in the company’s potential based on its market presence and strong relationships with a broad customer base as well as the skills and expertise of its employees,” comments Křetínský. “We have chosen the option structure to provide us with the full flexibility regarding our future shareholding in METRO AG which will in particular depend on whether we can re-affirm our believe to have a positive impact for the company and its management and are able to support its future development in the right way.“
EPGC was advised by goetzpartners as sole financial advisor and Kirkland & Ellis as legal advisor on both transactions.