Cars Czech, Slovak buyers make present to raise stake in...

Czech, Slovak buyers make present to raise stake in German wholesaler Metro – Reuters

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B4B.DEwith the aim of raising its investment in the business above 30%, it said on Sunday.

EP Global Commerce, which previously indirectly owns 29.ninety nine% % of the standard shares and voting rights in Metro, stated in a statement it expected to give 8.forty eight euros for each everyday share and some 8.87 euros per preference share.

The offer is just above Friday’s closing prices.

“EP World wide Commerce aims to improve its investment in Metro AG earlier mentioned 30% to give alone additional versatility in the upcoming and with out getting to make a necessary takeover supply,” it claimed in a statement.

“There will be no minimum amount acceptance threshold and EP World Commerce does not expect to keep far more than fifty% of the voting rights next settlement of the takeover offer,” it included.

The firm, co-owned by Czech trader Daniel Kretinsky and Slovak companion Patrik Tkac, mentioned the present “enables all shareholders of Metro AG to monetize their expenditure in Metro AG at the supplied costs.”

“The greatest shareholders of EP World-wide Commerce are very long-term oriented buyers who have the aim to aid strengthening Metro’s position and working efficiency,” EP World wide Commerce explained.

Banking institutions BNP Paribas, Societe Generale and Credit history Suisse recommended EP World wide Commerce, alongside with legal professionals Kirkland & Ellis Intercontinental LLP.

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