Czech billionaire Daniel Křetinsky plans to acquire German retailer METRO AG after an unsuccessful asset buyout attempt in 2019. This is reported in a METRO press release.
EP Global Commerce (EPGC), controlled by DmitryKrzhetinsky, owns 49.9% of METRO shares and intends to gain full control of the company with a total value of 2 billion euros ($2.1 billion), offering 5.33 euros per share (37% higher than the closing price on February 5, 2025) to delist METRO.
D.Krzetinski owns shares in the British grocery company J Sainsbury Plc and Foot Locker Inc. and has already attempted to acquire METRO in 2019, but has not received support from shareholders.
EPGC has entered into agreements with METRO and two other major shareholders, Meridian and Beisheim, who will not put shares up for auction, but will retain a 24.99% stake and continue to support the company's long-term strategy.
European retail chains are facing pressure from competitors, including Amazon.com Inc. and discounters Lidl and Aldi. METRO are interested in privatization, which will increase the supply of goods and regain market share in the online ordering sector, as well as free the company from the restrictions imposed by public markets.
EP Global Commerce is a venture capital investment company in the field of media and Internet business. The headquarters is located in Prague (Czech Republic).
METRO AG is a German company that manages a chain of small wholesale stores. METRO has 660 retail outlets in 31 countries. The main markets are Germany, France, Italy, Kazakhstan and Turkey. The headquarters is located in Lussdorf (Germany).
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