The EPGC is offering EUR 8.48 for one ordinary share, the holders of which have the right to vote at the General Meeting. For a preference share that is not associated with voting rights, but usually a higher dividend, its owner will receive EUR 8.89.
EPGC currently holds 29.9 percent of the shares in Metro, making it the company’s largest shareholder. She is the owner of Makro wholesalers in the Czech Republic. Křetínského’s company hopes that thanks to the published offer it will reach over 30 percent. Daniel Křetínský is also a co-owner of the Czech News Center publishing house, which also operates the economic website E15.cz.
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When the EPGC announced its intention last month, Metro shares strengthened significantly. The board of directors of the chain stated that the offer significantly underestimates the company.
The EPGC has previously announced and now confirmed that even after the latest offer, it does not expect to acquire more than 50 percent of the voting shares in the Metro. She said she only wanted more flexibility and at the same time did not want to be obliged to submit a full takeover bid.
Metro has been selling some of its divisions in recent years to focus on key wholesale activities. The company has over 770 Cash & Carry wholesalers in 26 countries, which employ over 150,000 people. The group has been represented in the Czech Republic since 1997. Its Makro Cash & Carry ČR division operates 13 wholesale centers in the Czech Republic.
Křetínský and Tkáč joined the German company Metro in the summer of 2018. In the summer of last year, they tried to take over the company, but their efforts were not successful.
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