METRO prepares Reasoned Statement on EP Global Commerce’s offer document

10 July 2019
The Management Board and the Supervisory Board of METRO AG acknowledge that EP Global Commerce VI GmbH (EPGC) today published the expected offer document. Both boards will assess the offer document in detail in accordance with their legal obligation, evaluate it in the interest of the company and the shareholders and issue a reasoned statement on the offer pursuant to Section 27 of the German Securities Acquisition and Takeover Act (WpÜG).

On 21 June 2019, EPGC, a holding company controlled by Daniel Křetínský in coordination with Patrik Tkáč, announced its intention to make a voluntary public takeover offer to the shareholders of METRO AG for the acquisition of all ordinary and preference shares. EPGC is offering the shareholders of METRO AG EUR 16.00 per ordinary share and EUR 13.80 per preference share in cash. The offer is, amongst others, subject to the condition of a minimum acceptance threshold of at least 67.5% of all ordinary shares outstanding at the expiration of the acceptance period which EPGC expects to be sufficient to secure approval of a domination and profit and loss transfer agreement with METRO AG after settlement of the offer.

METRO AG refers to the press release of 23 June 2019, in which the shareholders are advised not to take action prior to the publication of the reasoned statement.

The wholesale and food specialist has published all public documents and information related to the unsolicited takeover offer from EPGC on its website: investors.metroag.de/news/takeover-offer-2019

 

METRO is a leading international wholesale company with food and non-food assortments that specialises on serving the needs of hotels, restaurants and caterers (HoReCa) as well as independent traders. Around the world, METRO has some 24 million customers who can choose whether to shop in one of the large-format stores, order online and collect their purchases at the store or have them delivered. METRO in addition also supports the competitiveness of entrepreneurs and own businesses with digital solutions and thereby contributes to cultural diversity in retail and hospitality. Sustainability is a key pillar of METRO’s business. METRO has been the sector leader in the Dow Jones Sustainability Index for the last four years. The company operates in 36 countries and employs more than 150,000 people worldwide. In financial year 2017/18, METRO generated sales of €36.5 billion. In September 2018 METRO AG initiated the divestment process for the food retail chain Real with its 34,000 employees to transform into a pure wholesale company.