EP Global Commerce, the acquisition vehicle of Slovak and Czech investors, is reportedly launching a new takeover offer to raise its stake in Metro Cash & Carry, a renowned German wholesaler. The new takeover bid aims to increase the company’s investment in Metro to mre than 30%.

EP Global Commerce already owns over 29.99% of Metro’s ordinary shares as well as voting rights indirectly. The company in a recently released statement said that it expects to offer over €8.48 per ordinary share and approximately €8.87 per preference share.

The company stated that EP Global aims to raise its existing investment in Metro and take it above 30% in an effort to give itself a higher level of flexibility in future, without needing to offer a mandatory takeover bid. According to the statement, there would not be a minimum acceptance limit and EP Global is not looking to hold over 50% of the overall voting rights after the settlement of the new takeover offer.

EP Global, co-owned by Daniel Kretinsky, a Czech investor and Patrik Tkac, his Slovak partner claimed that the new takeover offer allows all Metro AG shareholders to effectively monetize their respective investments within the company at offered prices.

As per the company, the ultimate EP Global Commerce shareholders are investors that are in it for the long-term, are looking at the bigger picture, and who have the ultimate goal of effectively supporting the efforts to further strengthening Metro Cash & Carry’s operating performance as well as its position in the industry.

According to reliable reports, leading European bank, Banks BNP Paribas, Switzerland-based investment banking firm, Credit Suisse, and French Financial services firm, Societe Generale took part in the deal as advisors of EP Global Commerce, in addition to UK-based Kirkland & Ellis International LLP.

Source credit: https://in.reuters.com/article/metro-offer/czech-slovak-investors-make-offer-to-raise-stake-in-german-wholesaler-metro-idINL8N2GA0S5