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EP Global Commerce willing to give more than $6 billion for Metro

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Christian Fernsby |
Metro
Acquisition   The offer price for Metro represents a 34.5% premium

EP Global Commerce, an acquisition vehicle owned by Czech and Slovak investors, is making a takeover offer for Metro that values the company at 5.8 billion euros ($6.60 billion).

EP Global Commerce already held a stake of nearly 11% in Metro. The offer price of 16 euros for each ordinary share and 13.80 euros for each preferred share represents a 34.5% premium to when EP Global Commerce made its initial investment in August.

The firm, co-owned by Czech investor Daniel Kretinsky and Slovak partner Patrik Tkac, said the offer was a “a compelling value and a unique opportunity” for shareholders given the difficult market and challenges facing Metro.

EP Global Commerce, which already held a 10.91% stake in Metro, made the full takeover offer after it agreed with investment firm Haniel to buy its 15.2% stake.

It also said it would exercise a call option for a stake of 5.4% held by an affiliate of Ceconomy.


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