{"id":8251,"date":"2019-11-01T03:50:51","date_gmt":"2019-11-01T02:50:51","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=8251"},"modified":"2019-11-01T03:58:52","modified_gmt":"2019-11-01T02:58:52","slug":"metro-ag-ep-global-commerce","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/metro-ag-ep-global-commerce\/","title":{"rendered":"EP Global Commerce Boosts Stake In Metro AG To 29.99%"},"content":{"rendered":"

Kretinsky’s EPGC to be largest shareholder in Metro AG<\/h2>\n

 <\/p>\n

Daniel Kretinsky and Patrik Tkac’s EP Global Commerce (EPGC) group increased its shares in Metro AG to 29.99 percent. As a result, they are now Metro’s largest shareholder.<\/p>\n

 <\/p>\n

EP Global Commerce exercised call option<\/h3>\n

 <\/p>\n

EPGC exercised a call option<\/a> to buy 44,950,974 ordinary shares in Metro AG from Haniel. EPGC said<\/a> the transaction would go through on November 6, 2019. K\u0159et\u00ednsk\u00fd and Tk\u00e1\u010d’s company previously held 17.52 percent of Metro.<\/p>\n

 <\/p>\n

EPGC will seek more seats on the Board. While keeping call options to buy more ordinary shares held by Haniel.<\/p>\n

 <\/p>\n

Kretinsky and Tkac first invested in Metro in 2018<\/h3>\n

 <\/p>\n

EPGC bought<\/a> a stake in Metro AG in 2018 when its shares fell to record lows due to weak earnings in Russia. The once large-scale retailer restructured in recent years, focusing even more on the wholesale business. They sold Kaufhof department stores and spun consumer electronics off into Ceconomy AG.<\/p>\n

 <\/p>\n

Failed takeover bid<\/h3>\n

 <\/p>\n

EPGC submitted a takeover bid to Metro AG in mid-June. At the time, they offered EUR 16 per share of the company. But, Metro management and its shareholders rejected the takeover<\/a>. The bid valued the entire company at EUR 5.8 billion (roughly CZK 148 billion).<\/p>\n

 <\/p>\n

The Metro Group has over 770 Cash & Carry wholesalers in 26 countries and has more than 150,000 employees. The company has been doing business in the Czech Republic since 1997. It’s Macro Cash & Carry CZ division operates 13 wholesale centers in the Czech Republic.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kretinsky’s EPGC to be largest shareholder in Metro AG   Daniel Kretinsky and Patrik Tkac’s EP Global Commerce (EPGC) group increased its shares in Metro AG to 29.99 percent. As a result, they are now Metro’s largest shareholder.   EP Global Commerce exercised call option   EPGC exercised a call option to buy 44,950,974 ordinary … Read more<\/a><\/p>\n","protected":false},"author":4,"featured_media":8253,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[18],"tags":[541],"jetpack_publicize_connections":[],"yoast_head":"\nEP Global Commerce Boosts Stake In Metro AG To 29.99% - PBJ<\/title>\n<meta name=\"description\" content=\"Daniel Kretinsky and Patrik Tkac's EP Global Commerce group increased its shares in Metro AG to 29.99 percent.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/metro-ag-ep-global-commerce\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EP Global Commerce Boosts Stake In Metro AG To 29.99% - 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