EP Global Commerce's Public Delisting Offer: Metro AG under Spotlight
Deal News | Feb 24, 2025 | CEE Legal Matters
Gleiss Lutz, a renowned legal firm, has provided important counsel to EP Global Commerce (EPGC) regarding foreign investment and merger control facets linked to its public delisting offer for Metro AG shares not already owned by EPGC. EPGC, an entity overseen by Czech billionaire Daniel Kretinsky, has offered EUR 5.33 per share for the acquisition of Metro AG's remaining shares, an international food wholesaler headquartered in Germany. This delisting move is seen as a strategic step to facilitate the transformation of Metro AG's business model. EPGC currently holds 49.99% of Metro AG's ordinary shares and aims to streamline operations and assist Metro in adapting to future market demands. The legal assistance was spearheaded by Gleiss Lutz's team in Duesseldorf and Munich.
Sectors
- Legal Services
- Mergers & Acquisitions
- Retail & Wholesale
Geography
- Germany – Metro AG is headquartered in Germany, and the delisting activity is centered around its shares.
- Czech Republic – EP Global Commerce, controlled by Daniel Kretinsky, is headquartered in Prague, Czech Republic.
Industry
- Legal Services – Gleiss Lutz, a law firm, is providing legal advisory services in regulatory matters.
- Mergers & Acquisitions – EPGC's public delisting offer for Metro AG represents an M&A activity.
- Retail & Wholesale – Metro AG operates as an international food wholesaler.
Financials
- EUR 5.33 per ordinary or preference share – The price offered by EPGC for Metro AG's shares in the delisting process.
- 49.99% – EPGC's current holding of Metro AG’s ordinary shares and voting rights.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| EP Global Commerce | Bidding Company | Company | An acquisition entity controlled by Daniel Kretinsky, making a delisting offer for Metro AG. |
| Metro AG | Target company | Company | An international food wholesaler with a significant market presence. |
| Gleiss Lutz | Legal advisor | Company | A law firm advising EPGC on regulatory aspects of the delisting offer. |
| Daniel Kretinsky | Controller of EPGC | Person | A Czech billionaire controlling EP Global Commerce. |