EP Global Commerce VI GmbH: Discussions with Meridian and Beisheim constructive but not successful
Discussions with Meridian and Beisheim constructive but not successful
Grünwald, 5 August 2019 - EPGC held open and constructive discussions with the main shareholders Meridian Stiftung and Beisheim Holding about their potential support of the tender offer by EPGC. Although EPGC was exploring several alternatives with the two shareholders, it became clear during the discussions that EPGC and the two shareholders have different views on the valuation of METRO and therefore unfortunately the parties did not find a common ground for an agreement under which the two shareholders would support the offer.
EPGC appreciates the tone and atmosphere of the discussions and regrets that they were not successful but continues to believe that the offer represents a unique opportunity for all shareholders to exit at an attractive price and in EPGC's view includes a significant premium to the current fundamental value of METRO. EPGC also continues to believe that the company itself would significantly benefit from a simplified shareholder structure under clear leadership with a long-term strategic view to help METRO to successfully complete the necessary transformation in the challenging market environment.
EPGC confirms that it will neither increase the offer price, nor lower the minimum acceptance threshold, nor otherwise amend the offer. The acceptance period for the offer expires on 7 August 2019.
About EP Global Commerce
EP Global Commerce (EPGC) is an acquisition entity controlled by Daniel K?etínský, with current shareholding of 53%, who is acting in concert with other shareholder Patrik Tká?, who currently holds shareholding of 47% of EPGC. It was founded in April 2016 and is headquartered in Prague. Two subsidiaries, EP Global Commerce GmbH and EP Global Commerce II GmbH, were founded for the acquisition of the METRO shares formerly owned by Haniel and CECONOMY. EP Global Commerce VI GmbH is a subsidiary of EPGC established in connection with the Offer as the bidder.
Daniel K?etínský was born in Brno, Czech Republic, on 9 July 1975. He studied at Masaryk University's Faculty of Law which he graduated as Doctor of Law, and also holds a bachelor's degree in political science. In 1999, he joined J&T investment group as a lawyer, shortly thereafter became responsible for corporate investments and was promoted to the position of partner in 2003. In 2009, through J&T together with PPF, he was involved in the founding of Energetický a pr?myslový holding a.s. (EPH), nowadays a leading Central European energy and infrastructure group based in the Czech Republic and has been serving as its CEO and chairman. He subsequently acquired the shares in EPH and is its majority and controlling shareholder. Besides serving on several boards of companies affiliated with EPH, he also holds investments and positions at companies unaffiliated to EPH, including Czech Media Invest, Mall Group or EP Industries. He is also a Chairman of the Board of Directors of AC Sparta Praha fotbal.
Patrik Tká? was born in Bratislava, Slovak Republic, on 3 June 1973. He studied at the Faculty of National Economy at the University of Economics in Bratislava where he earned his master's degree. Patrik Tká? is a co-founder and a co-owner of the J&T group of companies, an international financial and private banking services provider and investment group with a focus on the markets of Central and Eastern Europe. In 1996, he became Member of the Board of Directors at J&T Finance Group, a.s.. Two years later, he was named Chairman of the Board of J&T Banka, a.s. and holds this function until today. He is also the Chairman of the Supervisory Board at Czech News Center and serves on several boards of companies affiliated with the J&T Group such as Nadace J&T (Foundation), J&T IB and Capital Markets or PBI.
Dr. Frank Herkenhoff Mobile: +49 (0) 151 528 890 66 firstname.lastname@example.org Robert Labas Mobile: +49 (0) 170 7908451 email@example.com
This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in METRO. The Offer itself as well as its terms and conditions and further provisions concerning the Offer are published in the offer document. The offer document and other information relating to the Offer are published on the internet at https://www.epglobalcommerce.com.
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